The current account deficit increased by 57pct last year, reaching 9.416 billion euro, from 5.970 billion euro in January - December 2017, according to the data released by the National Bank of Romania (BNR) on Wednesday.
"Between January and December 2018, in the structure, the balance of goods recorded a deficit by 2628 million euro higher, the balance of services recorded a surplus by 102 million euro smaller, the balance of primary income recorded a deficit of 322 million euro, while the balance of secondary income saw a surplus by 394 million euro lower," the quoted source informs.
Total foreign debt increased by 1.115 billion euro. Long-term foreign debt totaled 67.219 billion euro on 31 December 2018 (68.3pct of total foreign debt), down 1.9pct from 31 December 2017. Short-term foreign debt amounted to 31.257 billion euro (31.7pct of total foreign debt), up 8.4pct from 31 December 2017.
The long-term foreign debt service rate was 20.7pct between January and December 2018, compared with 25pct in 2017. The coverage of imports of goods and services on 31 December 2018 was 4.9 months, compared with 5.4 months on 31 December 2017. The short-term foreign debt coverage, calculated at the residual value, with the foreign exchange reserves at the BNR on 31 December 2018 was 74.6pct compared to 79pct on 31 December 2017.
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