Romania's current account deficit dropped 78.9%, amounting to 1.18 billion euros at the end of April

Miercuri, 17 iunie 2009, 14:22 English | Business

Romania's current account deficit counted over 1.18 billion euros after the first four months of the current year, dropping 78.9% against the same period in 2009. The decrease is attributable mainly to the commercial deficit, which dropped by 66.5% by the end of April, reaching 1.9 billion euros, according to the data released by Romania's Central Bank on Wednesday.

The current account deficit was fully financed during the first 2009 four months by the straight investments of non-Romanian residents (against 66% in the first 2008 quarter), recording 2.05 billion euros, in contrast with the 3.69 billion euros recorded against the same 2008 period.

End of April 2009 saw Romania's external medium and long term debt going over 51.6 billion euros (72% of the total external debt), 1.6% up against December 31, 2008. The external short-tem debt recorded 20.1 billion euros - 28% of the total external debt - at the end of April, 2009. The value dropped 9.4% against December 31, 2008.