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Economic Growth Stays at 5.5% in the Year to June.
In Q2 2006 economic growth was 6.6% in real terms (on the basis of Q2 2005). The registered nominal growth (measured in euro) is significantly higher than previous periods due to the quick inflation of the euro - the reserve currency of Bulgarian lev.... -
Pension industry grows by 34% in the year to June.
Pension industry is currently among the most dynamic sectors in the economy despite heavy regulation and slow reform of the pay-as-you go system. By mid-2006 private funds manage some 640 mln euro, or 34% more than a year before.Employers reacted positively to the pension-tax cuts in 2006. Registered employment grows at a steady... -
Exports as Growth Engine.
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Comments on latest BoP data.
Current account deficit widened by 91% in Q1 of 2006 compared to Q1 of 2005 to reach EUR -1 052 million. At the same time the financial account balance went down by -44% to EUR 570 million. Thus domestic savings rate continued to decrease. For 2005 it was 16.2% of GDP compared to 17.6% in 2004. Both exports and imports of goods ... -
Rise of minimum wage in the current political agenda.
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Political Aspects of the Latest Inflation Data.
According to the state National Statistical Institute (NSI) prices for the “average” consumer in Bulgaria grew by 3% in February only. This is a dramatic figure on the background of an average monthly rise in nominal incomes of less than 1% in the past eight years. Macro-data should be considered a potential source of political... -
New balance of payments data change considerably the macroeconomic outlook in Bulgaria.
BNB announced several important revisions of the balance of payments data because of new data and changes in methodology. These include mostly the following:-new data about the foreign investments for 2004 and 2005,-new method of transport revenue and expenditure registration in the export-import process – differentiating the ty... -
BNB should avoid further measures "against the trade deficit".
According the latest data from BNB the trade deficit in 2005 reached the record levels of EUR 5.2 billion or about a quarter of GDP. The current account deficit also climbed to a record of 15% of GDP.The central bank has two options to look at these figures. First, their intervention in the banking business has given no result a...