Romanian current account deficit, 1.6% higher |
Autor: Bancherul.ro
2008-10-13 12:39 |
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In January-August 2008, the balance-of-payments current account posted a deficit of EUR 10,006 million, 1.6 percent higher compared to January-August 2007, due largely to the wider trade deficit (EUR 11,714 million), up 8.1 percent from the same period of last year. (see the document attached)
Export growth outpaced import growth January through August 2008 by 3.7 percentage points.
Foreign direct investment worth EUR 6,502 million covered 65 percent of the current account deficit in January-August 2008. Equity stakes and reinvested earnings accounted for 53.3 percent of the total figure, with intra-group loans1 making up 46.7 percent.
Medium- and long-term external debt2 at end-August 2008 added 23.3 percent against end-2007 to EUR 47,461 million
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