Romania H1 Current Account Gap Widens Slightly

Romania H1 Current Account Gap Widens Slightly

Romania’s current account deficit for the first half of 2018 widened from a year ago, data from the central bank showed Monday.

The current account deficit rose to EUR 3.78 million from EUR 3.52 million in the January to June period last year.

The goods trade deficit widened, while the surplus in services decreased. The shortfall in primary income narrowed, but secondary income fell. «So far there are no convincing signs of a correction in the external imbalance,» ING Bank economist Valentin Tataru said. «We maintain our 3.7 percent of GDP current account deficit forecast for 2018 with the risks tilted to the upside, due to rather sluggish FDI, relative strength in the Romanian leu and lack of a meaningful fiscal consolidation.»

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