Romania Current Account Posts EUR312M Deficit In First Five Months

07.14.2015 By Bogdan Neagu

Romania's current account balance posted deficit of 312 million euros after the first five months, compared with EUR424 million in the same period of 2014, central bank data showed Tuesday.

After the first four months, the current account balance had a deficit of EUR27 million.

The goods and services balance posted a surplus of EUR270 million in January-May, down from EUR340 million in the year-ago period. The primary income deficit widened to EUR1.63 billion versus EUR1.38 billion in January-May 2014, while the secondary income balance posted surplus of EUR1.05 billion, almost double compared with EUR621 million in the first five months of last year.

Foreign direct investments were at EUR1.29 billion in the January-May period, up from EUR1.09 billion in the same interval of 2014.

Romania's total external debt was EUR90.8 billion at the end of May, down from EUR94.3 billion in December 2014. The medium and long-term debt stood at EUR71.5 billion, while the short-term debt was EUR19.3 billion.

Last year, the country’s current account deficit narrowed to EUR696 million, from EUR1.17 billion in 2013.