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

Romania Country Report Jun17 - June, 2017

Lack of fiscal predictability and the weak absorption of EU funds are the major threats in terms of macroeconomic stability. The situation has deteriorated in this regard during June, when the ... more

Poland Country Report Jun17 - June, 2017

The Polish economy accelerated growth to 4% y/y in the first quarter of 2017, on the back of a 4.1% y/y expansion in domestic demand. However, that included 4.7% y/y growth in private consumption. ... more

Iran Country Report Jun17 - June, 2017

Iran’s economy has experienced an “impressive recovery” since international sanctions were lifted in January last year and delivered an annual economic growth of 12.5% in the last Persian year ... more

Dismiss