Romanian National Bank: Current account deficit dropped 69.4% in the first 11 months in 2009 – 4.6 bln euros

During the first 11 months of 2009, the current account recorded on the balance sheets recorded a 4.6% billion euros, dropping 69.4% in contrast with the same 2008 period, according to a Romanian National Bank (BNR) communiqué. „The influence on the reduction of the current balance account was the commercial balance deficit, namely 5,973 million euros, dropping 66.5% against the January-November 2008”, the communiqué shows.

The direct investments of the non-residents financed 81.7% the current account deficit in the mentioned period. These were investments amounting to 3.8 billion euros, in contrast with the 8.6 billion euros in January-November 2008. According to BNR capital participations (including reinvested profit) came to 2.05 billion euros 9in contrast with 4.66 billion euros) and intra-group credits (credits between a foreign investor and a resident business) 1,77 billion euros.

The long and medium -term foreign debt was 63,336 billion euros in November 30 2009, namely 80.7% of the total foreign debt, up 23.2% against December 31 2008. Romania’s short-term foreign debt was 15,138 in November 30 2009 (19.3% of the total foreign debt), dropping 26.5% against December 31 2008.