The current account of Romania's balance of foreign payments came up short of 15 million dollars at the end of this January, three times less than in the first month of last year, given that current transfers compensated for the disequilibrium of the trade balance in full.
Current foreign currency transfers registered 105 million dollar surplus, while the trade balance deficit was of only 106 million dollars, compared with 173 million dollars in January 2002, NBR announced. The excess of the current transfers was 13 million dollars lower than in January 2002.
Another current account component, that is services, except tourism, registered surplus. Tourism came up 7 million dollars short. At the same time, the revenue deficit was worth 36 million dollars, according to NBR.
Medium and long-term foreign debt also went up 2.4 per cent from December 2002 to 15.5 billion dollars, 9.7 billion dollars of which account for the foreign public and publicly secured debt. The private foreign debt went rose 3.3 per cent in January, reaching 5.8 billion dollars.
January's debt service totalled 170 million dollars. The medium and long-term foreign debt service rate (calculated as a ratio of the medium and long-term debt service and export of goods and services) amounted to 19.4 per cent by January 31, 2003, compared with 21.6 per cent at the end of 2002.
The extent of reserves coverage by import months (calculated as a ratio of NBR's official foreign currency and gold reserve at the end of the specific period and the average import of goods and services in that period) reached 4.8 months at the end of January 2003, compared with 4.7 months in late 2002.
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