By Theo Moreni
The balance-of-payments current account recorded a deficit of over 5.581 billion euro in the first 11 months of 2017, up 92.7% as compared to the similar period of 2016, reads a press release of Romania's national Bank (BNR).
'The goods balance and the primary income balance recorded deficits by 2.317 billion euro, respectively 342 million euro higher, the surplus of the secondary income balance was down 176 million euro and the services balance recorded a surplus by 150 million euro higher,' the document informs.
The overall external debt January to November 2017 went up by 1.483 billion euro.
Structurally, the long-term external debt totaled 69.354 billion euro on 30 November 2017 (73.5% of the overall external debt), down 0.4% as compared to 31 December 2016. The short-term external debt stood at 25.039 billion euro on 30 November 2017, up 7.6 from the level reported at end-2016.
'Long-term external debt service ratio ran at 21.1% January to November 2017, as compared to 30% in 2016. At end-November 2017, the goods and services import cover stood at 5.4 months, as compared to 6.3 months at end-2016, reads the release.
At end-November 2017, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 84.1 percent, against 90.5 percent at end-2016.