National Bank of Romania: the balance-of-payments current account posted a deficit of EUR 3,123 million, 23% lower

In January – August 2012, the balance-of-payments current account posted a deficit of EUR 3,123 million, 23.0 percent lower from the same year-ago period, due to the increase in the current transfers surplus (EUR 462 million) and in the services surplus (EUR 418 million), as well as to the decrease in the income deficit (EUR 274 million), said the National Bank of Romania in a statement.rnrnNon-residents’ direct investment in Romania worth EUR 941 million1 (as compared with EUR 607 million in January – August 2011) covered 30.1 percent of the current account deficit in the first eight months of 2012. Out of the total figure, equity stakes consolidated with the estimated net loss amounted to EUR 140 million and intra-group loans to EUR 801 million. rnrnMedium- and long-term external debt at end-August 2012 stood at EUR 77,220 million (78.8 percent of total external debt), 1.7 percent above the level recorded at end-2011.rnrnShort-term external debt at end-August 2012 totalled EUR 20,772 million (21.2 percent of total external debt), down 8.9 percent from end-2011.rnrnMedium- and long-term external debt service ratio ran at 29.7 percent in January – August 2012, against 28.9 percent in 2011. At end-August 2012, goods and services import cover4 stood at 7.2 months, as compared to 7.5 months at end-2011.