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Romania's current account deficit dropped 73.2% in January. Sums sent by overseas Romanians went upUpdated: 15-03-2010 | Economy
Romania's current account of the payments balance dropped by 73.2% in January against the same time last year, amounting to 123 billion euros, according to Romania's National Bank (BNR) data. The current account deficit was 459 in January 2009. The influenced on the current balance account decrease was recorded by the commercial balance deficit, which amounted to 217 million euros, dropping 55.8% against January 2009. Romanian Diaspora sent 52% more money in the country.
The balance deficit of the incomes recorded 173 mln euros in the mentioned period, namely 11.7% less than in the first 2009 month, while the goods and services balance recorded a 282 mln euros deficit, in contrast with 481 mln euros, the figures for the same time last year. The current transfers account balance went up to 332 million euros, that is 52.2% more than in January last year. The biggest contribution in this case is actually the money sent in Romania by the Romanians working overseas.
Direct foreign investments dropped 73%
Direct foreign investment dropped 73% during the first month of the year, to 302 million euros, against 1.12 billion euros in January 2009. This was entirely represented by capital participations. The current account deficit for January 2010 was financed by non-residents' direct investments in Romania. The medium and long term debt recorded at the end of January a level of 64.21 billion euros, namely 82.5% of the total foreign debt. Approximately the same level was recorded at the end of last year. The short term foreign debt was 13.65 billion euros, 5.5% less than in December 31 2009.
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