BULGARIA POSTED USD 877 M CURRENT ACCOUNT DEFICIT FOR 2001

Views on BG | March 1, 2002, Friday // 00:00

Bulgaria posted a USD 877.9 M current account deficit for 2001, up from USD 701.6 M in 2001, the Bulgarian National Bank announced. Foreign direct investments financed 74.1 % of the current account deficit last year.

The balance of goods and services alone was in a BGN 1,004.2 M, down USD 121 M from the previous year. At USD 650.9 M, direct investments accounted for 4.8 % of GDP and were USD 350.6 M less than in 2000.

Residents' portfolio investments abroad increased by USD 23.1 M and portfolio investments inside Bulgaria rose USD 105.1 M as a result of the November 2001 Eurobond issue.

The overall balance was in a USD 397.6 M surplus, compared to a surplus of 137.3 million dollars for 2000. In 2001, Bulgaria's net use of IMF credit fell by USD 168.5 M. In 2000 this use increased by USD 135.9 M.

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