Bulgaria Country Report - August, 2016

September 21, 2016

This report covers the key economic, financial and political releases for Bulgaria for the period August 20 – September 19.

Bulgaria’s real GDP growth accelerated to 3% y/y in the second quarter of 2016 from 2.9% y/y in the previous three months, according to seasonally-adjusted statistics office data that confirmed an August 12 flash estimate.

Following a visit to the country, an International Monetary Fund (IMF) mission expects economic growth of 3% in 2016, revising up an IMF forecast of 2.3% growth made in April.

Bulgaria's overall business climate indicator was approximately flat m/m in August, after dropping 0.9 points m/m in July. The industrial production increased by 2.3% y/y in July, decelerating from a 4% y/y rise in June. The construction output fell 11.8% y/y in July, after decreasing by 13% y/y the month before. Annual growth of retail sales (at constant prices) decelerated to 2.2% in July from 5.4% in June.


Key points:
• The CPI declined by 0.3% y/y in August, after edging down 0.2% y/y in July
• Bulgaria reported a consolidated budget surplus of BGN3.29bn (€1.68bn) in January-August, equal to around 3.7% of projected GDP, preliminary data from the finance ministry showed
• The country reported a current account surplus of €1.29bn in the first seven months of 2016, up from a surplus of €380.5mn in the same period of 2015


To Purchase This Report - Click Here

Related Reports

Iran Country Report Jan17 - January, 2017

Iranian economic growth in the first half of the current year (started last March 21) amounted to 7.4%, according to the Central Bank of Iran (CBI) Governor Valiollah Seif. The CBI chief noted ... more

Kazakhstan Country Report Jan17 - January, 2017

The commodity-dependent Kazakh economy is experiencing one of its toughest years in over a decade as a result of low oil prices, slowing demand from China and the ongoing recession in Russia. ... more

Turkey Country Report Jan17 - January, 2017

Turkey remains in a difficult place both politically and economically that is weighing on growth. Analysts expect Turkey to be dogged by this uncertainty for at least two years depressing the ... more

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss