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Current account deficit down by 16.97% in the first 11 months of 2023
The current account of the balance of payments recorded, in the period January - November 2023, a deficit of 20.2 billion euros, 16.97% lower compared to the one of 24.3 billion euros in the period January - November 2022, the National Bank of Romania (BNR) informed on Friday.
In its structure, the balance of goods recorded a smaller deficit by 3.510 billion euros, the balance of services recorded a larger surplus by 552 million euros, the balance of primary incomes recorded a smaller deficit by 320 million euros, and the balance of secondary incomes registered a surplus smaller by 251 million euros.
Between January and November 2023, the total external debt increased by 20.093 billion euros, up to 163.979 billion euros. In the structure, the long-term external debt amounted to 116.965 billion euros on November 30, 2023 (71.3% of the total external debt), an increase of 18.6% compared to December 31, 2022, and the short-term external debt recorded the level of 47.014 billion euros (28.7% of the total external debt), increasing by 3.9% compared to December 31, 2022.
The long-term external debt service rate was 16.9% in the period January - November 2023, compared to 17.9% in 2022. The degree of coverage of imports of goods and services at the end of November 2023 was 5.5 months, compared to 4.4 months on December 31, 2022.
The degree of coverage of the short-term external debt, calculated at the residual value, with foreign exchange reserves at the NBR on November 30, 2023 was 96%, compared to 82.4% on December 31, 2022.
