As of November 2011 the Current and Capital account was positive, amounting to EUR 1391.8 mn or 3.5% of GDP. As of end-November 2011 the gross external debt amounted to EUR 35,543.1 mn or 90.2% of GDP. Bulgaria’s foreign reserves rose by 2.9% y/y in 2011. World Bank cut Bulgaria’s growth forecast to 1.9% in 2011, 1.2% in 2012. The total business climate indicator in December 2011 preserves its level from the previous month as a reduction is recorded only in construction. Bulgaria's consumer inflation decelerated to 2.8% y/y in December 2011.
Total Producer Price Index in November 2011 grew by 6.8% y/y. Bulgaria’s industrial production growth slowed to 0.6% y/y at the end of November 2011. By preliminary seasonally adjusted data of NSI in November 2011 the
turnover in Retail trade, except of motor vehicles and motorcycles at
constant prices fell by 0.6% compared to the previous month. Bulgaria’s general budget deficit declined by 43.8% y/y in January- November 2011.
In the period January – October 2011 the Current and Capital account
was positive, amounting to EUR 1443.3 mn or 3.7% of GDP. As of end-October 2011 the gross external debt amounted to EUR 35,846.6 mn or 91% of GDP.
Foreign reserves continued to rise in November 2011, GDP growth revised up to 1.6% y/y in Q3 2011. In November 2011 the total business climate indicator reported a decrease by 2.1 percentage points m/m. CPI inflation declined to 3.1% y/y in November 2011. Total Producer Price Index in October 2011 grew by 7.3% comparing to the same month of 2010. Industrial production index increased by 2.5% y/y in October 2011. In October 2011 the working day adjusted turnover in Retail trade declined by 5.2% in comparison with the same month of the previous year. In Q3 2011 the total hourly labour cost rose by 7.2% compared to Q3