Balance of payments' current account deficit narrows over 62 pct in 11 months

The balance of payments' current account deficit narrowed 62.3 percent over Jan.-Nov. 2014 down to 302 million euros, as compared to 801 million euros in the same period of 2013, amid 920 million euros increased surplus recorded by the balance of services and 143 million euros cut in the balance of goods, reveal figures published by the National Bank of Romania (BNR) on Tuesday.

Photo credit: (c) CRISTIAN NISTOR / AGERPRES ARCHIVE

The long-term foreign debt totalled 77.51 billion euros on Nov. 30, 2014 (accounting for 81.1 percent of the overall foreign debt), down by 1.7 percent from Dec. 31, 2013.

According to the Central Bank data, the short-term foreign debt stood at 18.028 billion euros at end-Nov. (18.9 percent of the overall foreign debt), down by 6.1 percent from end-Dec. 2013.

"In the analysed period, the total foreign debt went down by 2.5 billion euros", the BNR release says.

According to it, the long-term foreign debt service rate was of 37.3 percent over Jan. ? Nov. 2014, as compared to 42.9 percent in 2013.

At end-November 2014, goods and services import cover stood at 6.8 months, as compared with 7.3 months at end-2013. AGERPRES