Bulgaria's External Debt Reaches €44.4 Billion: National Bank Report
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
Bulgaria's gross domestic product (GDP) has contracted by 3,5% in the first quarter of 2009 on an annual basis, statistics office data showed on Friday.
This is the first time that the country's GDP marks a drop since the financial and economic crisis in 1997 and the heavy slide is much bleaker than macroeconomists' forecasts.
Last week the European Bank for Reconstruction and Development (EBRD) became the latest addition to the club of institutions forecasting a contraction of Bulgaria's economy in 2009.
The bank estimated that Bulgaria's GDP growth will shrink by 3% this year and a further 1% in 2010, echoing the predictions made by the European Commission at the beginning of the month.
Bulgarian exports shrank 16,4% year-on-year in the first quarter from a 6% decrease in the previous three months, the statistics office data showed. Imports contracted by 21%.
The data showed consumption growth dropped by 5,6% on an annual basis in the first quarter, while the industry shrank 12.2% from January to March.
Investment plunged by 15,4% in January-March.
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As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
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