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Foreign financing increased, BoP statistics suggests.
On an 12-month basis to January 2005, foreign direct investment to Bulgaria reached EUR 2018 million (EUR 30.5 for January 2005). In Q4 of 2004 they skyrocketed to EUR 1032 m, or double the volume of Q4 of 2003. However, most of this volume came as a payment on the privatization of regional power distribution companies sold earl...
Economic growth accelerates for a fifth quarter in row.
Economic growth accelerated in the last quarter of 2004. The real GDP growth reached 5.6% having been no more than 3.9% a year and a half before. In nominal terms, the economy now produces ?19.4 billion per year, which is exceeds the 1998 level by about 2/3. The last two quarters of 2004 registered record high levels of GDP grow...
EUR 345 mln. foreign capital entered Bulgaria through the banks in 2004
Among the most significant reasons for the credit expansion in 2004 was the inflow of foreign capital though the banking system in the last three years. Since 2002 the banks have an important role as a channel of foreign capital entering Bulgaria. Only last year, EUR 345 mln went into the economy through the banks.Non-residents’...
IMF Mission to Bulgaria and the revision of fiscal policy.
The agreement between the IMF mission and Bulgarian government will affect mainly public investment expenditures. The listed capital of ‘Public Investment Projects’ corporation will be reduced from BGN 340 million to 220 million. Additionally, the government committed itself to cut another BGN 117 million in expenditures. This r...
Bulgaria’s Central Bank increases pressure on banks to hold their credit expansion.
The monetary authorities in Bulgaria have been trying to control the credit expansion in the county since mid-2004. In a context of a currency board, what can be done is not much. Still, the Bulgarian National Bank have already increased the minimum reserve requirements a series of measures for the last nine months.A new regulat...

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