Foreign debt increases 40% in one year and reaches 61bn euros

Romania’s overall foreign debt exceeded 61 billion euros at the end of March, up 40% on the first quarter of last year, reveals data from the NBR (National Bank of Romania). Since the beginning of the year alone the indebtedness level has climbed by 2.27 billion euros, primarily fuelled by funding attracted by private companies and banks. In fact, the NBR also revised upwards the end-of-2007 figures. According to the latest published data, foreign debt totalled 58.79 billion euros in December 2007, compared with 57.65 billion euros, the initial amount forecast. The state slightly increased its foreign debt, to 9.84 million euros, compared with 9.73 billion at the end of last year. However, the public foreign debt fell 1.6% against March last year.