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Industry Watch released July 2005 update of the Wealth and the Finance Industry in Bulgaria report.
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In a secret vote on 27th July, the parliament rejected the government proposed by socialist leader Sergei Stanishev.
The coalition had 116 votes; it could also count on one MP that left the Ataka faction earlier and openly announced its support for BSP cabinet. The vote was a two-stage one: first, Sergei Stanishev had to be approved as prime minister, and second, the parliament had to approve the structure and the staff of the cabinet. Stanish...
Credit grew modestly in from end-May to mid-July, reflecting the impact of BNB restrictive measures.
Credit to private sector by mid-July was BGN 16,524, or a growth of 0.7% for six weeks since our last survey. The M3 aggregate grew by 5.3% to BGN 23,676 million – quite faster than the expansion of the monetary base. The latter grew by BGN 163 million in June and first half of July or 2.3% up from end-May. The other reason was ...
Short-term fiscal policy of the new government: possible scenarios.
Industry Watch report is available in Bulgarian; please contact us for more details....
The dollar inflation is only part of the story behind oil price records.
Part of the reason for the long-term rise of oil prices is purely monetary, viz. inflation of the dollar and of the euro. Prices of most tradable goods, not only the prices of oil, have risen substantially for the past two years, especially when we talk about metals. On average, industrial goods prices rose by 58% in three years...
Economic growth reaches 5.9% y-o-y in Q1, consumer prices go down in May.
GDP growth accelerates for a sixth quarter in a row reaching 5.9% in the year till March. Growth was as much as 3.9% two years ago. Major factor behind the acceleration of economic growth is the favorable market conditions for Bulgaria’s heavy industries. For a few year now the soft monetary policies in America and in Europe ha...
Fiscal surplus grew in April, fiscal policy maintains restrictive.
The trend of restrictive fiscal policy through accumulating the current budget surpluses in the fiscal reserve account in BNB continued. In Q1 of 2005 we saw the usual contraction of consolidated public expenditures after the massive spending in the end of the previous year. They were lower compared to both Q3 and Q4 of 2004 lev...
Credit stood unchanged in May, despite increase in monetary base.
Credit to private sector remains at BGN 16,421 by end May, revealing stabilization of banking lending.The M3 aggregate grew by 2.1% to BGN 22,490 million; most of the expansion was due to increase in monetary base. The latter grew by BGN 238 m in May, or 3.5% up from April. The fiscal policy continued to be restrictive, by pilin...

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