Romania’s external debt, which includes both government loans from abroad as well as the companies’ debt, increased by EUR 815 million in the first three months of this year, reaching almost EUR 93.2 billion at the end of March.

This is the highest level since February 2015, and comes as a result of the increase in short-term loans, according to Romania’s National Bank (BNR).

Of the total external debt, long-term debt amounted to EUR 68.9 billion at the end of March this year, down EUR 11 million compared to the end of December 2016. The short-term debt reached EUR 24.2 billion, up EUR 826 million over the end of last year.

At the end of May 2016, the total external debt reached the minimum level since August 2010, amounting to EUR 87.8 billion. The debt steadily grew between 2010 and March 2013, when Romania's foreign debt reached the highest level ever, namely EUR 101.1 billion.

editor@romania-insider.com