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Industry Watch released the Q2 Housing Market in Bulgaria Report.
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Trade deficit grows slower than capital goods imports.
BNB latest data on the nominal volumes of foreign trade (i.e. measured in Euro) is a basis to estimate the real growth in trade. Both exports and imports have been growing by some 13% y-o-y till March. The trade deficit increased by EUR 444 million.The whole increase of the trade deficit is covered by the increase in capital goo...
Households’ financial wealth is growing steadily
In Q1 the households’ deposits expanded by 30.7 % y-o-y, reaching close to BGN 9.7 billion. Local currency denominated deposits continue to grow at a higher pace than those denominated in foreign currencies. At the same time, long-term deposits have registered impressive annual growth. Generally, we explain this development with...
A monetary contraction in April followed the credit hike in March.
After the deliberate expansion of credit portfolios in March, commercial banks drove back their balances by end-April.The M3 aggregate shrank by 0.8% down to BGN 22,023 million. At the same time, total credit to private sector went down to BGN 16,420 million by the first week of May, or down by 3.4%. Such development revealed th...
Economic growth in 2005 to be 5.1% according to Industry Watch poll of forecasters.
As an independent source of economic research and analysis Industry Watch presents regulars forecasts on Bulgaria’s economy, based on a poll of selected macroeconomists. The poll takes place twice a year (spring and fall). In the current spring poll we present the updated forecast for 2005 and a forecast for 2006.The forecasts f...
Housing Market in Bulgaria/April 2005 is available to subscribers.
The April update of our regular report was released today. For more information and subscription, please click the product button on the right....
Banks are facing new restrictions on credit activities.
In March 2005 commercial banks agreed new loans to private non-financial sector amounting BGN 3.37 billion, as revealed in the weekly monetary statistics. Some 51.6 % of these new credits are long-term, while 26.8 % are overdraft. The bulk of newly agreed credits (73 %) have been granted to corporate sector. This is considerable...
Capital Formation Growth Slows Down.
The history of macroeconomic stability in Bulgaria is not long (1998 was the first full year of stable money), however we know the economic growth acceleration and deceleration is normally preceded by the same movement in the investment dynamics, thus we consider the growth of capital formation a leading indicator of economic ac...

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