Deficit bigger by the month

The current account deficit of Romania’s balance of payments amounted to 1.64bn euro in late September, 61% higher than in the first nine months of last year, the National Bank of Romania (NBR) says. The international trade in goods saw a 2.38bn euro negative balance, 27.95% more than in the corresponding period of 2002. At the same time, the tourism service-related deficit reached 42 million euros, 2 million euros above the level posted in late September 2002. Transport services registered a 67 million euro positive balance, down 27 million euros from the first nine months of 2002. The overall service sector saw 24 million euro surplus. Current transfers registered a 1.2 million euro positive balance. The medium and long-term foreign debt went up 5.9% compared with December 2002 to 15.47bn euros in late September. The foreign public and publicly secured debt was worth 9.9bn euros and accounted for 64% of the medium and long-term debt compared to 62.8% as of December 31, 2002. The private foreign debt increased by 2.4% from December 2002 to 5.56bn euros. ZF