Bulgaria Loses Billions Annually Due to Delayed Schengen Membership, Warns Economy Minister
Bulgaria stands to lose approximately BGN 1 billion each year due to its continued exclusion from full membership in the Schengen area
The surplus of Bulgaria's current account for the third quarter of 2017 is EUR 2.2 billion, according to Eurostat data.
For comparison, the country recorded a surplus of EUR 500 million for the second quarter of the year and a surplus of EUR 1.7 billion for the third quarter of 2016, indicating an acceleration both on a yearly basis and on a quarterly basis.
The European Union as a whole has a current account surplus of € 69.4 billion (1.8% of GDP) for the third quarter of 2017, and growth has grown annually and quarterly.
In the third quarter of 2016, the surplus amounted to EUR 44.8 billion (1.2% of GDP) and EUR 47.5 billion (1.2% of GDP in the second quarter of 2017) ).
As far as individual EU countries are concerned, 20 countries has surplus, 6 are with deficit, and two (Belgium and Lithuania) have reached a third-quarter current account balance.
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