Foreign direct investment into Romania rose 30% in the first nine months of 2012

The National Bank of Romania (BNR) estimates that direct foreign investments have increased by 28.8 percent, reaching a level of EUR 1.109 billion in the first nine months of this year, up onthe same period of the last year, when the value was EUR 861 million.

The BNR is less optimistic about the outcome of the full year 2012, compared to 2011. "The volume of direct foreign investments will amount this year to a level smaller or equal to the one recorded last year of EUR 1.9 billion," said Prime Minister Victor Ponta recently. The current account balance of payments recorded a deficit of EUR 3.67 billion in the first nine months, down 23.2 percent compared to the same period last year, after growth in the area of services and current transfers and incomes. The exchange of goods trade deficit rose from EUR 5.2 billion in September 2011 to EUR 5.4 billion, but the change has been mitigated by the surplus of transfers and services, as well as a smaller negative balance on revenues. Medium and long term external debt amounted to EUR 77.5 billion on September 30 (78.2 percent of total external debt), up 2.1 percent from December 31, 2011, and the short-term external debt reached EUR 21.57 billion (21.8 percent of total external debt), down by 5.4 percent compared to last year. Ioana Toader, ioana.toader@romania-insider.com