Bulgaria's net international investment position (NIIP) stood at a negative EUR 30.9bn in the third quarter of 2013, shrinking by 2.5% y/y on the back of a faster growth of foreign assets held compared to domestic assets owned by foreigners, preliminary central bank data showed.
Bulgaria's foreign assets grew 5.5% y/y to EUR 29.2bn at end-September 2013, whereas its liabilities were up only 1.2% y/y to EUR 60.2bn.
The assets' increase was due to a 48.2% y/y surge to EUR 4.8bn in portfolio investments, of which EUR 4.2bn were debt securities and EUR 596.2mn were equity securities. Direct investments abroad climbed 15.4% y/y to EUR 1.59bn. Meanwhile, the country's reserve assets declined 3.6% y/y to EUR 14.9bn.
Direct investments in Bulgaria increased by 1.9% y/y to EUR 38.7bn, while portfolio investments (largely composed of purchases of government debt) shrank 20.6% y/y to EUR 1.45bn due to the high base effect of July 2012 when the government issued a five-year EUR 950mn Eurobond. Bank loans from foreign lenders increased by 38.9% y/y to EUR 2.84bn.
|NIIP, EUR mn||2009||2010||2011||ІX.2012||XII.2012||VІ.2013||ІX.2013||Change, y/y|
|International Investment Position, net||-35,568.20||-34,384.50||-33,088.50||-31,783.90||-31,599.10||-31,601.70||-30,988.6||-2.50%|
|Direct investment abroad||971.3||1,171.30||1,274.90||1,382.70||1,518.30||1,560.80||1,595.3||15.38%|
|Direct investment in Bulgaria||34,170.00||35,347.30||36,619.00||38,054.30||37,755.80||38,311.20||38,768.1||1.88%|
|Source: c-bank (BNB)|
Bulgaria’s biggest poultry company Gradus sold 43,961,878 shares during the first day of listing of its shares on Bulgarian Stock Exchange in the biggest IPO for the past 10 years, bourse data ... more
Bulgaria’s FIBank on June 15 denied claims by opposition Democratic Bulgaria and investigative news outlet Bivol.bg about links between one of its shareholders – Tseko Minev – and the ... more
Bulgaria’s Supreme Cassation Prosecution accused the state medical audit body, EAMO, of covering up several cases of patients who died in hospital ... more