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Monetary multiplier continues to shrink in September.
Credit to private sector grew modestly in September by 2.2% to previous month (compared to August, 1.9%) and reached BGN 17,208 million. Both business and household credit expanded by similar volumes. At the same time the M3 aggregate only slightly grew by 0.4% to reflect a contraction in overnight deposits, to reach BGN 23,746 ...
The government and the IMF will probably fail to reach an agreement on the fiscal policy for 2006.
The IMF mission maintains its position that high level of public expenditures and the fast expansion of private sector external indebtedness nourish the current account deficit. The latter is expected to exceed 13% of GDP by the end of 2005. Meanwhile a new set of Central Bank restrictions on banking credit will be set in place ...
Domestic inflation in Bulgaria slowly converges with the rate in the Euro-zone but 2006 is expected to bring about upward pressure on prices.
Since January 2005 we observe a deceleration of Bulgaria’s annual average CPI – from 5.9% to 4.6% in September. Given the slight growth of the Euro-zone inflation rate after June (from 2.0 to 2.5%), the trend towards price change convergence seems stable.At the same time, short-term factors in Bulgarian economy will exert a seri...
Consumer price inflation keeps its pace in September.
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Proposed changes in real estate tax valuation.
The Ministry of Finance (MoF) proposed an average 20%-increase of tax valuation of real estate property for 2006. The ‘tax value’ is used to calculate annual property tax, garbage collection municipal fees and property transaction tax. The change will probably be accepted by the government and consequently the parliament. There ...
Tax changes for 2006 proposed by the Ministry of Finance.
From a political point of view the new governments seems to have decided to stick with the status quo of fiscal policy. This scenario includes an increase of wage (in public sector) and pension expenditures, combined with modest reduction in investment expenditures and controlled expansion of new public employment. On a macro le...
Industry Watch released Q3 2005 Housing Market in Bulgaria report.
The report is available through subscription, prices start at BGN 890 per annum. For more details, use the link on the right or contact us at: subscription@iwatchbulgaria.com....
Real growth in the non-farm business sector slows down in Q2, although GDP growth stays at record high levels.
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