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IwatchBulgaria.com - News - Current account deficit reached 8.7 per cent of GDP in September.
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You are in Home > News > Political stability > Current account deficit reached 8.7 per cent of GDP in September.
Current account deficit reached 8.7 per cent of GDP in September.
submited on 12.11.2005 in category Political stability | Fiscal affairs | Macroeconomic developments
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Current account deficit reached 8.7 per cent of GDP in September. According to the latest data released by BNB the current account deficit for Q3 reached 1, 837 million euro or 8.7% of GDP. For the same period of 2004 the deficit amounted to 697.6 million euro or 3.6% of GDP. By year-end it will probably extend to 10-11 % of GDP. In such circumstances we expect the Bulgarian government to find itself under pressure by the IMF to limit some transfers like the traditional 13-month salary and pension bonus at end-2005 targeting to decrease the already significant import demand. Despite the measures in restricting demand and external vulnerability, the high levels of current account deficit will probably remain until 2007-2008. By keeping current high investment levels, improving ratio of investment to consumer goods in import structure and increasing industrial output, we do not consider the deficit like a macroeconomic treat.
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