Romania's Current Account Gap Widened 46% in the First Five Months of 2010

In the first five months of 2010, Romania's current account deficit widened 45.7% compared to the same period of time in 2009, to EUR2.865 billion. The current transfers balance dropped 55%, from EUR1.866 billion in January-May 2009 to EUR839 million in the first five months, according to Romania’s National Bank datas.

 

Foreign direct investments, which stood at EUR1.43 billion, down 31,5%, covered half of Romania's current account deficit in the first five months of 2010.

 

In 2009, Romania's current account deficit narrowed 68.7% on the year to EUR5.05 billion.