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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.... -
Sales in industry surprisingly grew by a modest 0.5% in February compared to January.
In 2004, the growth rate for February was 9.7%.The size of the growth rate is not in line with traditional seasonality – after the decline in January each year, February marks a revival of business activity. In 2005 this did not happen, mainly due to the following:1. Garment and textiles production starts to feel the competitive... -
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...