Bulgaria's FDIs Further Down in October
Foreign direct investments have dropped by EUR 103.8 M in October 2013 compared to the same period of 2012, official data of the Bulgarian National Bank shows.
The decline is mainly due to the faster repayment rate of inter-company loans by local subsidiaries to parent companies abroad.
Year-to-date drop in the volume of foreign direct investment is 43%. In the period January-October 2013, Bulgaria attracted EUR 1.05 B (2.6% of GDP) compared to EUR 1.85 B (4.7% of GDP) for the same period of the prior year. The main drop is again a result of the 'other capital' investment reduction - nearly 77% per year.
Statistics report decrease in reinvested earnings and fixed capital investments as well.
Balance of payments statistics show the still weak domestic demand recovery. For the period January-October, Bulgarian import reported a minimal increase of 0.9% compared to the previous year, yet the data for October only show a 0.6% decrease as opposed to the same month in 2012.
The continuous export growth is a positive signal for the economy. Year-to-date Bulgarian companies have exported goods worth EUR 18.6 B, which is 7.8% more than in 2012. The reported growth in October was only 8.6%.
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