Romania recorded a current account deficit of EUR 2.6 billion in the first five months of the year, up EUR 757 million compared to the first four months of the year.

In the first five months of 2015, Romania’s current account had a surplus of EUR 42 million.

The high current account deficit was due to higher deficits in the international trade with goods, EUR 3.46 billion compared to EUR 2.29 billion in the first five months of 2015, and in the primary revenues segment, EUR 2.93 billion up from EUR 1.23 billion. These increases could not be compensated by the higher surpluses on the services side (EUR 2.74 billion up from EUR 2.59 billion), and secondary revenues (EUR 1.05 billion up from EUR 970 million).

Romania’s long-term external debt reached EUR 69.9 billion at the end of May, down 1.1% compared to December 31, 2015. The short-term debt amounted to EUR 18 billion, down 6.4% compared to the end of 2015.

editor@romania-insider.com