Romania current account deficit registered an increase of 10.9% in the first quarter of the year, up to 3.51 billion euro, Romania's National Bank informs. The current account deficit was mainly determined by the commercial balance of payments deficit which totaled 3.86 euro, a 9.9% increase as compared to the first quarter of 2007.
Romania's income deficit in January-March 2008 totaled 1.13 billion euro, a 10.8% increase as compared to the same period in 2007. Foreign direct investments grew by 1.67 billion euro in the first quarter as compared to 1.21 billion euro in the first two months of the year. Thus, 47.6% of Romania's current account deficit for January-March was covered by foreign direct investments.
