Bulgaria Country Report - April, 2016

May 17, 2016

This report covers the key macroeconomic, financial and political releases for Bulgaria for the period since April 17, 2016.

Bulgaria’s real GDP growth decelerated to 2.9% y/y in the first quarter of 2016 from 3% y/y in the previous three months, a seasonally-adjusted statistics office flash estimate showed on May 13.

The European Bank for Reconstruction and Development (EBRD) revised upwards Bulgaria’s 2016 GDP growth forecast to 2.5% from 2% projected in November. In the spring edition of its European economic forecast, the European Commission (EC) raised its forecasts for Bulgaria’s GDP growth in both 2016 and 2017, to 2% and 2.4%, respectively, from 1.5% and 2% projected in February.

Bulgaria's consumer sentiment improved during the three months to April, with the confidence indicator rising 1.8 points to -26.9, its best level since April 2007.

Bulgaria's business confidence deteriorated m/m in April. The industrial production growth accelerated to 3% y/y in March from 2.7% y/y in February. The construction output went down 9.3% y/y in March, after decreasing by revised 5.2% y/y the month before. Retail sales (at constant prices) climbed 6.2% y/y in March, speeding up from a 3.3% y/y rise in February.


Key points:
• The CPI decreased by 2.2% y/y in April after dropping by 1.5% y/y in March
• Bulgaria reported a consolidated budget surplus of BGN2.35bn (€1.2bn) in January-April, equal to some 2.6% of projected GDP, preliminary data from the finance ministry showed
• The country reported a current account surplus of €168.3mn in January and February, reversing a deficit of €318.1mn in the first two months of 2015


To Purchase This Report - Click Here

Related Reports

Russia Country Report Sep18 - September, 2018

Just the threat of new “crushing” US sanctions that may be adopted in the autumn is already hurting the Russian economy in August. The Ministry of Economic development has already revised the ... more

Iran Country Report Sep18 - September, 2018

Iran’s economy expanded by 3.7% during the 2017-2018 Persian calendar year (ended March 20), according to a report released by the Central Bank of Iran (CBI) on June 16. Further revisions of ... more

Belarus Country Report Sep18 - September, 2018

Belarus' economic growth was higher than expected in the first half of this year topping 4.5%, which is almost twice the 2.8% forecast at the start of the year. The government is using the windfall ... more

Dismiss