Balance-of-payments current account deficit down to EUR 4,863 million, Jan-July

In January - July 2020, the balance-of-payments current account posted a deficit of EUR 4,863 million, compared with EUR 6,083 million in the same year-ago period, the National bank of Romania (BNR) informs on Monday.

The deficit on trade in goods widened by EUR 635 million, the surplus on services increased by EUR 370 million, the primary income balance saw its deficit narrowing by EUR 945 million, and the surplus of the secondary income balance rose by EUR 495 million.

In January - July 2020, total external debt increased by EUR 9,616 million, of which: long-term external debt at end-July 2020 stood at EUR 82,499 million (71.4 percent of total external debt), up 12 percent against end-2019;
short-term external debt at end-July 2020 amounted to EUR 32,990 million (28.6 percent of total external debt), up 2.4 percent from end-2019.

Long-term external debt service ratio ran at 17.6 percent in January - July 2020 against 18.6 percent in 2019. At end-July 2020, goods and services import cover stood at 5.9 months, as compared to 4.6 months at end-2019.

At end-July 2020, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 81.4 percent, against 73.8 percent at end-2019.