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Current account deficit drops 23.7 percent

Between January - April 2012 the balance-of-payments current account posted a deficit of EUR 1,230 million, 23.7 percent lower from the same interval in 2011, the central bank informs today (Fri). The drop was due to the 24.1 percent increase in the current transfers surplus supported by the services deficit turning into surplus and the 4.6 percent decrease in the income balance deficit. Non-residentsí direct investment in Romania worth EUR 446 million (as compared with 490 million Euros in the January - April 2011) covered 36.3 percent of the current account deficit. Equity stakes consolidated with the estimated net loss stood at 413 million Euros and loans between parent companies and resident branches, posted 33 million Euros. Medium-and long-term external debt at end-April 2012 stood at 77,349 million Euros (78.1 percent of total external debt), 2.3 percent above the level recorded at end-2011. Short-term external debt at end-April 2012 totalled 21,638 million Euros (21.9 percent of total external debt), down 5.2 percent from end-2011.

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