Bulgaria Country Report - February, 2016

March 15, 2016

This report covers the key macroeconomic, financial and political releases for Bulgaria for the period since February 16, 2016.

Bulgaria’s GDP increased by a real 3% in 2015, accelerating from a 1.6% rise in 2014. The 2015 reading is the highest growth since 2008.

On March 8, the European Commission adopted a Communication, in which it found that the country is experiencing excessive macroeconomic imbalances.

Bulgaria's business confidence strengthened m/m for a second consecutive month in February, with the total business climate indicator increasing 0.5 points, after a 0.6 point rise in January. The industrial production growth decelerated to 3% y/y in January from 3.5% y/y in December. The construction output went down 10.7% y/y in January, following a 2.1% y/y decline the month before. Retail sales (at constant prices) increased by 1.3% y/y in January, decelerating from a 1.7% y/y rise in December.

Key points:
• The CPI decreased by 0.5% y/y in February, after being flat y/y in January
• Bulgaria reported a consolidated budget surplus of BGN961mn (€491.4mn) in January and February, equal to some 1.1% of projected GDP, preliminary data from the finance ministry showed
• Bulgaria issued on March 14 two Eurobond tranches worth a combined €1.994bn
• The current account surplus increased by 9.4% to €541.6mn in 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