January current account deficit up to €1.13 bln

Income balance deficit rose to €360 million, 21.2 percent higher than in January 2007, due to a rise in interest payments of industrial and banking credits.
The trade balance had a deficit of €1.12 bln, compared to €1.11 bln in January 2007, but the balance of current transfers dropped to €296 mln, from €358 mln last year.

The current account deficit was covered by direct foreign investments (61.2 percent), which brought in €695 mln, of which capital and reinvested profit amounted to 45.2 percent and intra-group credits, 54.8 percent.

Specialists estimate that the rhythm of growth of exports will be more alert this year, especially on capital goods and products with high added value.