Selected papers~ SPECIAL EDITION - Index of

T1/2010 T2/2010 T3/2010 T4/2010 T1/2011
Mil. euro - end of
period
Bonds 3 790,2 3 544,2 2 848,3 2 863,0 3 010,8
Loans 12 527,0 12 792,4 13 631,5 14 039,3 14 964,6
Trade credits 1,1 1,2 1,0 1,3 1,3
2. Monetary Authority 7 178,5 7 717,7 9 004,5 9 104,6 9 673,1
Short-term 57,0 79,0 48,0 22,0 6,0
Loans 0,0 0,0 0,0 0,0 0,0
Cash and deposits 57,0 79,0 48,0 22,0 6,0
Long-term 7 121,5 7 638,7 8 956,5 9 082,6 9 667,1
Bonds 0,0 0,0 0,0 0,0 0,0
Loans 7 121,5 7 638,7 8 956,5 9 082,6 9 667,1
3. Banks 21 629,2 21 107,3 21 337,0 22 688,6 22 952,9
Short-term 6 590,0 6 242,0 6 277,0 7 025,0 6 751,0
Loans 327,0 555,0 574,0 1 611,0 1 798,0
Cash and deposits 6 106,0 5 587,0 5 673,0 5 367,0 4 909,0
Other liabilities 157,0 100,0 30,0 47,0 44,0
Long-term 15 039,2 14 865,3 15 060,0 15 663,6 16201,9
Bonds 183,7 120,2 146,3 125,8 130,0
Loans 7411,9 7 460,9 7 243,7 7 310,1 7 555,8
Other liabilities 7 443,6 7 284,2 7 670,0 8 227,7 8 516,1
4. Other sectors 25 262,0 26 115,0 25 154,9 24 731,0 24 360,0
Short-term 4 457,0 5 115,0 4 751,0 4 630,0 4 620,0
Money market instruments 2,0 2,0 15,0 41,0 164,0
Loans 3 116,0 3 264,0 3 097,0 2 956,0 3 079,0
Trade credits 1 339,0 1 845,0 1 637,0 1 633,0 1 377,0
Other liabilities 0,0 4,0 2,0 0,0 0,0
Long-term 20 805,0 21 000,0 20 403,9 20 101,0 19 740,0
Loans 20 642,5 20 841,3 20 259,9 19 989,6 19 665,1
Trade credits 162,5 158,7 144,0 111,4 74,9
II. INTER-COMPANY DIRECT
INVESTMENT
15 043,9 15 540,2 15 974,8 15 989,6 16 206,5
- liabilities to affiliated enterprises 18,2 0,5 3,4 9,7 10,0
- liabilities to investors ( series 15 025,7 15 539,7
available from December 2001)
15 971,4 15 979,9 16 196,5
Source: NBR Data.
The balance of chronic deficit of the
balance of payments of Romania is another
synthetic indicator relevant to the health of
the economy and hence of the sustainability
of external debt (see Table no.1.3.). The
higher the current account deficit, the more
difficult the financing problems.
15
It is noted that compared to the first quarter of
2010, in the first quarter of 2011 Romania
saw a favourable trend to reduce the size of
the current account deficit. What is important
to note is that, except for component C -
Current transfers - that has a growing surplus
in quarter I.2011 compared to quarter I.2010,