Romania current account deficit reached 5,92 bln euro in January-August 2006

Romania’s current account deficit grew 51% to 5,92 billion euro in the first eight months of 2006, compared to the same period last year, mainly because of a higher trade deficit, the National Bank-BNR has announced. It also said Romania’s medium and long term foreign debt reached 25,8 billion euro.

According to the BNR, the current account deficit was covered 73,1% through foreign direct investments totaling 4.3 billion euro in the first eight months of the year, compared to 2.7 billion euro in January-August 2005.

The trade deficit exceeded 6.2 billion euro in the same period.

According to National Prognosis Commission forecasts, Romania’s current account deficit this year will reach 8.25 billion euro, accounting for 8.7% of the GDP - the same level as in 2005.

HotNews.ro, Oct 25, 2006