Romania's current account deficit goes up 2.8 times year-on-year

Romania recorded a current account deficit of EUR 2.16 billion at the end of July, down 14% compared to the deficit recorded at the end of June. Compared to the same period last year, however, the deficit increased 2.8 times, according to data from Romania’s National Bank (BNR). The increase in the goods and primary income deficit (by EUR 1.23 billion, respectively EUR 211 million), and the drop in the secondary income surplus (by EUR 308 million) resulted in the higher current account deficit. The imbalance could have been even bigger had it not been for a EUR 344 million increase in the services surplus. Romania’s external debt went over the EUR 90 billion threshold again, after dropping under this level in the previous months. The long-term debt amounted to EUR 69.38 billion at the end of July, down 1.9% compared to the end of 2015. This represented 77% of the total foreign debt. The short-term debt totaled EUR 20.66 billion, up 7% compared to December 31, 2015. editor@romania-insider.com