Bulgaria Reports Jan-Feb Deficit of 1.0%/GDP

Bulgaria Reports Jan-Feb Deficit of 1.0%/GDP

Bulgaria's current account deficit through February was equivalent to a preliminary 1.0% of the gross domestic product (GDP) projected for 2012 and compared to a surplus of 0.03% of GDP a year earlier, the central bank said.

At the end of February, the current account showed a deficit of 388.2 million euro ($509.8 million), compared to a surplus of 11.1 million euro a year earlier, the central bank said on Wednesday.

Bulgaria posted a trade deficit of 466.6 million euro through February, equivalent to 1.2% of the projected GDP. In the first two months of 2011 the country ran a trade deficit of 56.1 million euro.

January-February exports dropped by 6.1% on the year to 2.91 billion euro, while imports rose by 7.1% year-on-year to 3.37 billion euro.

Foreign direct investment (FDI) in Bulgaria decreased to 84.6 million euro through February, equivalent to 0.2% of the projected GDP, from 333.2 million euro a year earlier.

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