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Balance of payments and external debt – March 2020

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According to BNR, the Central Bank, in January - March 2020p, the balance-of-payments current account posted a deficit of EUR 1,365 million, compared with EUR 1,120 million in the same year-ago period. The deficit on trade in goods widened by EUR 640 million, the surplus on services stood EUR 39 million higher, the surplus on primary income increased by EUR 137 million, and the surplus on secondary income rose by EUR 219 million.

Non-residents' direct investment in Romaniae posted a negative net value of EUR 551 million (compared with a positive net value of EUR 1,235 million in January - March 2019), of which equity (including estimated net reinvestment of earnings) amounted to EUR 248 million and intercompany lending recorded a negative net value of EUR 799 million.

In January - March 2020, total external debt increased by EUR 350 million, of which:

  • long-term external debt at end-March 2020 stood at EUR 74,867 million (70.5 percent of total external debt), up 1.7 percent against end-2019;

  • short-term external debt at end-March 2020 amounted to EUR 31,355 million (29.5 percent of total external debt), down 2.7 percent from end-2019.

Long-term external debt service ratio ran at 14.5 percent in January - March 2020 against 18.6 percent in 2019. At end-March 2020, goods and services import cover stood at 5 months, as compared to 4.6 months at end-2019.

At end-March 2020, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 77.3 percent, against 73.8 percent at end-2019.

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