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The current account deficit widens by 16pct, Jan.-Aug. 2019


August 2019, Romania's balance-of-payments current account posted a deficit of 7,080 million euros, compared with 6,104 million euros in the same year-ago period, according to a press statement released by the National Bank of Romania (BNR) on Monday.

The deficit in trade in goods widened by 2,081 million euros, the surplus of services income increased by 357 million euros, while the deficit in the primary income balance narrowed by 963 million euros, and the surplus in the secondary income balance decreased by 215 million euros.

In January - August 2019, total external debt increased by 9,131 million euros, of which long-term external debt at end-August 2019 stood at 74,342 million euros (68.2 percent of total external debt), up 8.9 percent against end-2018; short-term external debt at end-August 2019 amounted to 34,630 million euros (31.8 percent of total external debt), up 9.7 percent from end-2018.

Long-term external debt service ratio ran at 17.3 percent in January - August 2019 against 22.6 percent in 2018. At end-August 2019, goods and services import cover stood at 5.1 months, as compared to 4.9 months at end-2018.

At end-August 2019, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 76.4 percent, against 74.1 percent at end-2018.