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Foreign direct investment into Bulgaria from January to November 2016 was nearly half the value of the first 11 months of 2015, the Bulgarian National Bank has said.
Central bank data released Thursday suggests that FDI according to the directional principle amounted to EUR 953.7 M or 2% of GDP in the eleven months of last year.
To compare, the value was EUR 1.78 B (3.9% of GDP) for the same period of 2015.
In November 2016 foreign direct investment in Bulgaria grew by EUR 12.4 M, compared with an increase of EUR 32.2 M in November 2015.
The largest net direct investment inflow in Bulgaria for January – November 2016 was from the Netherlands (EUR 202.1 M, 21.2% of the total amount for the period), Germany (EUR 155.1 M, 16.3%), and Luxembourg (EUR 128.4 M, 13.5%).
BNB's previous figures, which suggested the same trend, have been disputed by Bulgaria's investment promotion agency, InvestBulgaria, which says the financial institution bases its estimates on money flows, while 2016 was a success in terms of the number of certified projects.
Equity (acquisition/disposal of shares and equities in cash and contributions in kind by non-residents in/from the capital and reserves of Bulgarian enterprises, and receipts/payments from/for real estate deals in the country) amounted to EUR 297.8 M in January – November 2016. It fell by EUR 686.1 M in comparison with that attracted in January – November 2015 (EUR 983.8 M).
Real estate investments of non-residents totaled EUR 53.7 M, compared with EUR 50.9 M attracted in January – November 2015.
The largest inflow of real estate investment was from Switzerland – EUR 22.7 M (42.3% of the total amount for January – November 2016), Russia (EUR 6.7 M, 12.5% of the total amount for the period), and Norway (EUR 6.1 M, 11.4% of the total amount for the period).
Reinvestment of earnings (the share of non-residents in the undistributed earnings/ loss of the enterprise based on preliminary profit and loss data) was estimated at EUR 594.2 M for January – November 2016, compared with EUR 660.5 M in the same period of 2015, the BNB says.
The net debt instruments (the change in the net liabilities between affiliated enterprises on financial loans, suppliers’ credits and debt securities) were positive amounting EUR 61.8 M in January – November 2016, compared with a positive balance of EUR 136.1 M in January – November 2015.
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