In January – June 2012 the current account was negative and amounted to EUR 460.1 million or1.2% of projected GDP. The gross external debt amounted to EUR 35,777.5 million or 90.1% of GDP at end-June 2012. Bulgaria’s foreign reserves increased by 7.9% m/m in July 2012
Bulgaria is expected to post 1.8% economic growth in 2013. Bulgaria’s CPI inflation increased to 3.1% in July 2012. In June 2012 Producer Price Index on Domestic Market grew up by 3.3%
y/y and Total Producer Price Index rose by 2.3% y/y. Bulgaria’s industrial production index grew up by 1.4% y/y in June 2012. Retail sales in Bulgaria grew up by 0.4% y/y in June 2012
Bulgaria's unemployment rate recorded 12.4% in June 2012. Bulgaria general budget balance reported a surplus of EUR 31.9 million. in H1 2012 Bulgaria's fiscal reserve up 0.3% m/m in June 2012. Bulgaria’s public debt declined by 0.5% m/m to EUR 6.04bn at end-June
2012. At the end of July 2012 M3 was BGN 59.949 billion or 77.2% of GDP.
The current account posted a deficit of EUR 345.6mn in the first quarter of the year,
compared to a deficit of EUR 87.6mn a year earlier, according to preliminary data of the
central bank. The gap accounted for 0.95% of the full year GDP projection. The cumulative
deficit shrank over the month due to EUR 118.9mn surplus reported in March alone
(compared to a deficit of EUR 98.7mn a year earlier). Thus, the current account balance on
annual base in March returned to a surplus after the reported deficit y/y in February. The
improvement of the CA balance in March was due to net current transfers, which exceeded
the year-ago level by EUR 379.4mn, reflecting higher proceeds from EU transfers (EUR
413.1mn in March compared to EUR 33.9mn in March 2011). In Jan-Mar, they almost
doubled on the year, which also helped cut the CA deficit for the period. The income balance
posed a deficit of EUR 74.5mn in March and EUR 239.7mn in Q1, down from EUR 128.3mn
and EUR 365.9mn in Mar 2011 and Q1 2011, respectively. The foreign trade balance on the
other hand continued deteriorating. In March, the balance was negative at EUR 326.9mnmn,
widening from EUR 262.4mn deficit recorded in Feb 2012 and EUR 145.6mn in March 2011.
In Q1, the trade gap expanded to EUR 803.1mn (compared to EUR 201.7mn in Q1 2011) on
3.3% annual drop in exports and 8.9% y/y increase in imports.