1. Market Research
  2. > Retail Market Trends
  3. > Bulgaria Country Report - June, 2016

Bulgaria Country Report - June, 2016

  • July 2016
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 25 pages

This report covers the key macroeconomic, financial and political releases for Bulgaria for the period since June 16, 2016.



Finance Minister Vladislav Goranov said that he does not expect Brexit to have serious direct impact on Bulgaria.



Bulgaria's business confidence improved m/m for a second consecutive month in June. The industrial production fell 3.3% y/y in May, reversing a 2.6% y/y increase in April. Bulgaria's construction output fell 8.1% y/y in May, after decreasing by 10.5% y/y the month before. Retail sales (at constant prices) climbed 3.9% y/y in May, slowing down from a 5.4% y/y increase in April.



An arbitration court in Geneva has ruled that Bulgaria's state-owned National Electricity Company (NEK) has to pay EUR550mn to Russia's Atomstroyexport, a unit of Rosatom, for equipment already produced for the cancelled Belene nuclear power plant project.



The Bulgarian parliament has adopted a new draft anti-corruption law in its first reading.





Key points:

oThe CPI decreased by 1.3% y/y in June, after dropping by 2% y/y in May

oBulgaria reported a consolidated budget surplus of BGN3.09bn (EUR1.58bn) in the first half of 2016, equal to some 3.5% of projected GDP, preliminary data from the finance ministry showed

oThe country reported a current account surplus of EUR274.8mn in the first five months of 2016, reversing a deficit of EUR192.1mn in January-May 2015

Table Of Contents

Bulgaria Country Report - June, 2016
EXECUTIVE SUMMARY4

MACROECONOMIC OVERVIEW5

Bulgarian finance minister does not expect serious direct impact of Brexit5

Bulgaria's long-term convergence interest rate rises to 2.4% in June5

REAL SECTOR6

1. Inflation6

Bulgaria's CPI deflation eases to 1.3% y/y in June6

Bulgaria's annual PPI deflation deepens to 4.5% in May7

2. Industry and Trade7

Bulgaria's business climate improves in June7

Bulgarian parliament elects new members to antitrust regulator8

Bulgaria's industrial production drops 3.3% y/y in May8

Bulgaria's construction output decline eases to 8.1% y/y in May9

Bulgaria's retail sales growth decelerates to 3.9% y/y in May10

3. Labour Market11

Bulgaria's unemployment rate drops to 8.4% in June, labour agency data show11

Bulgaria's labour cost growth accelerates to 7.7% y/y in Q111

4. Tourism11

Bulgaria's accommodation revenue rises 18.7% y/y in May11

Foreign tourists in Bulgaria up 11.8% y/y in May12

FISCAL SECTOR12

Bulgaria reports budget surplus of 3.5% of GDP in H112

Bulgaria's NEK to pay EUR550mn for cancelled Belene nuclear project, arbitration court rules13

Bulgaria's fiscal reserve rises 9.1% in May14

Bulgaria's government debt rises 8.6% y/y at end-May15

FINANCIAL INTERMEDIATION16

Bulgarian banking sector profit rises 12.3% y/y in January-May16

Fitch affirms Raiffeisenbank (Bulgaria), FIBank, upgrades UBB16

IMF, World Bank launch preliminary mission in Bulgaria over new FSAP17

Bulgaria's M3 growth speeds up, contraction of non-government loans eases in May18

Bulgaria's deposit, lending interest rates mostly down m/m in May18

Bulgarian parliament to elect new chairperson of financial regulator by end-July19

EXTERNAL SECTOR20

Bulgaria reports current account surplus of 0.6% of GDP in January-May20

FDI in Bulgaria drops 34.4% y/y in January-May20

Bulgaria's foreign trade deficit narrows 54% y/y in January-May21

Bulgaria's gross external debt drops 8.7% y/y at end-April22

Bulgaria's foreign reserves rise 3.2% in June22

POLITICS23

Bulgarian PM Borissov considers cabinet reshuffle23

Study shows 22.2% of Bulgarians involved in corruption in last year24

Bulgarian parliament adopts anti-corruption bill in first reading24

German President Gauck visits Bulgaria, calls for rule of law, tackling corruption25

Bulgaria's ruling GERB party leads in opinion poll25





Table 1 CPI, % y/y6

Table 2 Domestic market PPI, % y/y7

Table 3 Consolidated budget, BGN mn13

Table 4 Fiscal reserve, BGN mn15

Table 5 Government debt, EUR mn16

Table 6 Money supply, domestic credit, loans18

Table 7 Current account, EUR mn20

Table 8 Foreign trade, FOB/FOB, BGN mn21

Table 9 Gross external debt, EURmn22



Figure 1 Long-term convergence interest rate5

Figure 2 Bulgaria CPI, % y/y6

Figure 3 Domestic market PPI, % y/y7

Figure 4 Industrial output9

Figure 5 Construction output10

Figure 6 Retail sales10

Figure 7 Fiscal reserve, BGN mn15

Figure 8 Government debt15

Figure 9 Average interest rates on new euro loans19

Figure 10 FDI in Bulgaria, EUR mn21

Figure 11 Gross external debt, EUR mn22

Figure 12 Foreign reserves23

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
World DC Generator and Motor Market to 2021 - Market Size, Development, and Forecasts

World DC Generator and Motor Market to 2021 - Market Size, Development, and Forecasts

  • $ 26587
  • Industry report
  • January 2017
  • by Global Research & Data Services

The expansion of the global DC generator and motor industry is forecast to reach 0.6% p.a. in the coming years. Between 2010 and 2016 the market increased with an average annual growth of 6.1%. Currently, ...

World Paper Label Market to 2021 - Market Size, Development, and Forecasts

World Paper Label Market to 2021 - Market Size, Development, and Forecasts

  • $ 24991
  • Industry report
  • January 2017
  • by Global Research & Data Services

The report package World Paper Label Market to 2021 - Market Size, Development, and Forecasts offers the most up-to-date industry data on the actual market situation, and future outlook for paper labels ...

Thermometer Markets in the World to 2020 - Market Size, Development, and Forecasts

Thermometer Markets in the World to 2020 - Market Size, Development, and Forecasts

  • $ 21799
  • Industry report
  • November 2016
  • by Global Research & Data Services

The expansion of the global thermometer industry is forecast to reach 7.5% p.a. in the coming years. Between 2009 and 2015 the market increased with an average annual growth of 7.8%. Currently, liquid-filled ...


Download Unlimited Documents from Trusted Public Sources

Retail Sales Markets in Malaysia - Forecast

  • February 2017
    7 pages
  • Retail Sales  

    Web 2.0  

  • Malaysia  

    China  

View report >

Retail Markets - Forecast

  • February 2017
    9 pages
  • Retail  

  • China  

    United States  

    United Kingdom  

View report >

Retail Industry

  • February 2017
    3 pages
  • Retail  

  • United States  

    China  

View report >

Bookstore Industry

1 day ago

ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.