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UPDATE 1 - Romania's 8-mo c/a gap shrinks 23%

Oct 15, 2012, 12:39:58 PMArticle by Doinita Dolapchieva
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October 15 (SeeNews) - Romania's current account deficit narrowed by 23% to 3.1 billion euro ($4.0 billion) through August, mainly due to bigger current transfers surplus, the central bank said on Monday.

UPDATE 1 - Romania's 8-mo c/a gap shrinks 23%

The current account balance was also positively influenced by an increase in the services surplus, which rose to 452 million euro from 34 million euro, and lower income deficit, which shrank by an annual 18%, Romania's central bank, BNR, said in a statement.

Foreign direct investments (FDI) covered 30.1% of Romania's current account deficit in the first eight months of 2012.

FDI in Romania totalled an estimated 941 million euro in January-August, up from 607 million euro a year earlier, the central bank said.

Details follow (in millions of euro):

Jan-Aug'12* Jan-Aug'11**
Current account balance -3,123 -4,054
Trade -4,825 -4,602
Services +452 +34
Incomes -1,241 -1,515
Current transfers +2,491 +2,029

* estimated figures
** revised figures

($ = 0.7721 euro)

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