Romania's total (gross) external debt increased by EUR 1.5 billion in the first ten months of this year to EUR 98.9 billion (49% of GDP), at the end of October, Romania's National Bank (BNR) announced.

The long-term external debt at end-October 2018 stood at EUR 68.3 billion (69.1% of the total external debt), down 0.3% from the end of 2017. In contrast, the short-term external debt increased by 6% since the end of 2017 and amounted to EUR 30.6 billion (30.9% of the total external debt) at the end of October.

Compared to October 2017, though, the long-term debt contracted marginally (by 0.3%) while the short-term external debt soared by 14.7%, or EUR 3.9 billion.

Romania's short-term external debt has increased sharply since mid-2016, when it was around EUR 20 billion, to EUR 30 billion at mid-2018. The long-term external debt service ratio (external debt as a share of exports of goods and services) dropped at 20.6% in January - October 2018 against 25% in 2017.

editor@romania-insider.com

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