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BNR: Balance of payments and external debt – August 2023

November 14, 2023

According to the Central Bank (BNR) data, in January - August 2023p, the balance-of-payments current account posted a deficit of EUR 13,759 million, compared with EUR 18,502 million in the same year-ago period. The breakdown shows that the deficit on trade in goods declined by EUR 2,564 million, the surplus on services expanded by EUR 1,681 million, the primary income deficit decreased by EUR 322 million, while the secondary income surplus grew by EUR 176 million.   Non-residents’ direct investmente in Romania totalled EUR 5,080 million (compared with EUR 7,421 million in January - August 2022), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 5,477 million and EUR -397 million, respectively.   In January - August 2023, total external debt increased by EUR 14,535 million, of which: long-term external debt at end-August 2023 ran at EUR 113,970 million (71.9 percent of total external debt), up 15.5 percent against end-2022; short-term external debt at end-August 2023 amounted to EUR 44,451 million (28.1 percent of total external debt), down 1.8 percent from end-2022.   Long-term external debt service ratio stood at 15.6 percent in January - August 2023 against 17.9 percent in 2022. At end-August 2023, goods and services import cover stood at 5.1 months, as compared to 4.4 months at end-2022.   At end-August 2023, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 95.3 percent, as against 82.4 percent at end-2022.

The text of this article has been partially taken from the publication:
http://actmedia.eu/financial-and-banking/bnr-balance-of-payments-and-external-debt-august-2023/105394
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