ACCOUNT DEFICIT REACHED USD 493.2 M FOR JAN-SEPTEMBER

Views on BG | November 27, 2001, Tuesday // 00:00

Bulgarian Press Agency

The current account deficit for January-September reached 493.2 million dollars, 3.7 per cent of GDP, up by 128. 8 million dollars from a year earlier when it stood at 364.4 million dollars, the National Bank of Bulgaria said on Monday.

The central bank's foreign exchange reserves dropped by 293.5 million dollars during the reference period, whereas a year earlier they increased by 96.3 million, excluding exchange rate fluctuations. There was a net reduction in Bulgaria's obligations to the IMF by 86.8 million dollars, as against an increase by 134.3 million dollars a year earlier.

The central bank reported a trade deficit of 1,082.1 million dollars, up by 311.7 million dollars from a year earlier. The slowdown in Eurozone growth rates affected Bulgarian exports. Due to their economic problems, consumption of Bulgarian-made goods in Yugoslavia and Turkey shrank.

Domestic demand in the January-September period of 2001 increased from a year earlier. Domestic sales were up by 2.7 per cent from the first nine months of 2000. Exports (f.o.b.) increased by 7.6 per cent (270.7 million dollars) from a year earlier to 3,811.4 million dollars. Imports (f.o.b.) rose by 13.5 per cent (582.4 million dollars) to 4,893.5 million dollars.

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