Romania's current account deficit widens to almost EUR 5 bln in 11 months

Romania's current account deficit widened by 30.3 percent to EUR 4.94 billion in the first ten months, from a gap of EUR 3.79 billion a year before, largely due to the lower current transfers surplus, according to data from the Romanian Central Bank (BNR).

The current transfers balance posted a surplus of EUR 2.45 billion in January to October, down 31.5 percent from EUR3.57 billion in the year-earlier period. Foreign direct investments, which stood at EUR 2.15 billion, covered about 43 percent of Romania's current account deficit in the first ten months of 2010. In the year-earlier period, Romanian FDI was EUR 2.91 billion.

Romania's total external debt reached EUR 89.4 billion at the end of October, up from EUR 81.2 billion in December 2009, according to central bank data. In 2009, Romania's current account deficit narrowed 68.7 percent on the year to EUR5.05 billion.

Mediafax