The National Bank of Romania published provisional balance of payments and external debt data for January to March 2026 showing the current account deficit narrowed to EUR 5,338 million from EUR 6,153 million in the same period of 2025. The improvement reflected a EUR 977 million reduction in the goods deficit and a positive EUR 477 million contribution from secondary income, partly offset by a EUR 334 million smaller services surplus and a EUR 305 million wider primary income deficit. Non-residents’ direct investment in Romania totaled EUR 1,130 million, down from EUR 1,635 million a year earlier. Equity participations, including estimated reinvested earnings, amounted to EUR 1,461 million, while intragroup loans recorded a net negative value of EUR 331 million. Total external debt increased by EUR 3,062 million from end-2025 to EUR 231,525 million at 31 March 2026. Long-term external debt stood at EUR 182,847 million, or 79.0% of the total, up 1.4% from 31 December 2025, while short-term external debt reached EUR 48,678 million, or 21.0% of the total, up 1.1%. The long-term external debt service ratio was 11.8% in the first quarter, compared with 18.4% in 2025, import cover improved to 6.4 months from 6.0 months at end-2025, and coverage of residual short-term external debt by the National Bank’s foreign exchange reserves rose to 108.1% from 104.4%. The next monthly balance of payments and external debt press release is scheduled for 15 June 2026.
National Bank of Romania2026-05-18
National Bank of Romania reports first quarter current account deficit narrowed to EUR 5.34 billion as external debt rose to EUR 231.5 billion
The National Bank of Romania published provisional balance of payments and external debt data for January–March 2026, reporting a narrowed current account deficit of EUR 5,338 million versus EUR 6,153 million a year earlier, driven by a smaller goods deficit and stronger secondary income. Non-residents’ direct investment declined to EUR 1,130 million from EUR 1,635 million, while total external debt rose by EUR 3,062 million to EUR 231,525 million, with long-term debt at 79.0% of the total. The long-term external debt service ratio fell to 11.8%, and foreign exchange reserve coverage of residual short-term external debt increased to 108.1%.