IMF Concludes Regular Mission in Bulgaria, Recommends Restoring VAT to Pre-Pandemic Levels
The International Monetary Fund (IMF) has wrapped up its regular mission in Bulgaria
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The foreign direct investment (FDI) in Bulgaria in the period January – November 2014 are lagging behind with 20 % compared with the same period for 2013.
According to the preliminary data of the Bulgarian National Bank (BNB), FDI amounts to EUR 1.224 B for the period.
The investments increased during the first quarter of 2014, but dipped sharply in the second quarter.
Although there is a significant increase in August 2014, the largest drop was recorded in September 2014, when investments decreased with EUR 327.6 M.
Investments increased with EUR 416.6 M in November 2014, which is a record amount for a single month in the past three years.
Reinvested earnings in the first eleven months of 2014 rose to EUR 157.4 M.
The worrying signal for the trust of investors in Bulgaria's business climate comes from the drop in the equity capital, as it is an indicator for long-term investment, electronic daily Dnevnik analyses.
Equity capital has contracted almost twice from its value for January – November 2013, amounting to EUR 441.8 M for the same period a year later.
The investments in real property also decreased to EUR 112 M for January – November 2014.
Since the beginning of 2014 most investments in Bulgaria have originated from the Netherlands – EUR 660.6 M, followed by Austria, Switzerland and Russia.
The greatest outflow of FDI for the period was to Germany – EUR -211.7 M.
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