Romania's current account deficit dropped by 74.6% in the first nine months to 3.13 billion euro. Foreign Direct Investments dropped to half

Romania’s current account deficit dropped in the first nine months of the year by 74.6% compared to the similar period, last year, to 3.13 billion euro, Romania’s National Central Bank data reveals. The decrease rhythm of the current account deficit moderated in September after in the first eight months of the year it dropped by 78.6%.

The decrease of the current account was determined by the commercial balance deficit which totaled 4.76 million euro, registering a 67.3% drop compared to January – September 2008. Foreign direct investments increased in the mentioned period to 3.52 billion euro compared to 6.99 billion euro the previous year.

Of the total investments, 50.3% represented loans to banks in Romania.