Bulgaria’s C/A Gap Narrows to 385 Mln Euro in Jan-Feb, FDI Falls

Bulgaria’s C/A Gap Narrows to 385 Mln Euro in Jan-Feb, FDI Falls

Bulgaria's current account showed a deficit of 384.7 million euro in January-February compared to a gap of 504.1 million euro a year earlier, the central bank said.The current account deficit equaled 0.9% of the country's gross domestic product projected for 2014, compared to a deficit of 1.3% of the GDP in the previous year, the Bulgarian National Bank said in a statement. Foreign direct investment in Bulgaria almost halved to 114.1 million euro, or 0.3% of the projected GDP, in the first two months of the year, compared to 223.3 million euro for the same period a year earlier, equal to 0.6% of GDP. Bulgaria's trade balance showed a deficit of 538.1 million euro for the period under review, equal to 1.3% of the projected GDP. A year earlier the country had a trade shortfall of 344.9 million euro, or 0.95 of GDP, for the same period. Exports decreased 5.9% on the year to 3.2 billion euro in the first two months of the year, while imports went down by 0.2% to 3.8 billion euro.

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