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Real growth in the non-farm business sector slows down in Q2, although GDP growth stays at record high levels.
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Tourism growth slower than expected in 2005.
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The change in crude oil prices increases households’ expenditures by 1.3-2.5%.
The impact on economic growth for 2005 will be a reduction of 0.2 percentage points. The rise in crude oil prices in the last three months by about 25% will affect households’ budgets in different way according to the structure of their consumption. The effect will be stronger for those in active labor force in the big cities as... -
Industry Watch released July 2005 update of the Wealth and the Finance Industry in Bulgaria report.
The report is available through subscription, prices start at BGN 1390 per annum. For more details, use the link on the right or contact us at: subscription@iwatchbulgaria.com.... -
Pension industry accumulates 5.6% of households’ financial wealth.
In Q2, the net assets of all pension funds operating in Bulgaria (universal, voluntary and occupational) have reached BGN 939.2 million (EUR 480.2 million). For comparison, in Q1 the net assets totaled BGN 860.4 million (EUR 440 million). The penetration rate has increased further – to 2.4% of GDP in June, compared to 1.7 % of G... -
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 ... -
Real productivity growth stays at 2% y-o-y.
The average productivity dynamics slowed down substantially during the last two years. From about 5% the real productivity growth slowed down to 2% in late-2004 and early-2005. This is an estimation for the non-farm business sector of the economy, i.e. excluding public sector and farming. Measured in EUR, productivity grows at a...