Bulgaria's Jan-May C/A Gap Shrinks to 2.0%/GDP

Bulgaria's Jan-May C/A Gap Shrinks to 2.0%/GDP

Bulgaria's current account gap through May shrank to a preliminary 2.0% of the gross domestic product (GDP) projected for this year, from a revised 7.0% of GDP a year earlier, mainly due to a lower trade deficit, the central bank said on Thursday.

The current account deficit fell to 708.9 million euro ($902 million) in the first five months of the year from 2.366 billion euro a year earlier, the central bank said in a statement.

The trade deficit through May totalled almost 1.235 billion euro, equivalent to 3.5% of the projected GDP, compared to 2.050 billion euro, or 6.1% of GDP, in the same period of 2009.

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