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

Bulgaria Country Report - February, 2016

  • March 2016
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 24 pages

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



Bulgaria's GDP increased by a real 3% in 2015, accelerating from a 1.6% rise in 2014. The 2015 reading is the highest growth since 2008.



On March 8, the European Commission adopted a Communication, in which it found that the country is experiencing excessive macroeconomic imbalances.



Bulgaria's business confidence strengthened m/m for a second consecutive month in February, with the total business climate indicator increasing 0.5 points, after a 0.6 point rise in January. The industrial production growth decelerated to 3% y/y in January from 3.5% y/y in December. The construction output went down 10.7% y/y in January, following a 2.1% y/y decline the month before. Retail sales (at constant prices) increased by 1.3% y/y in January, decelerating from a 1.7% y/y rise in December.





Key points:

oThe CPI decreased by 0.5% y/y in February, after being flat y/y in January

oBulgaria reported a consolidated budget surplus of BGN961mn (EUR491.4mn) in January and February, equal to some 1.1% of projected GDP, preliminary data from the finance ministry showed

oBulgaria issued on March 14 two Eurobond tranches worth a combined EUR1.994bn

oThe current account surplus increased by 9.4% to EUR541.6mn in 2015

Table Of Contents

Bulgaria Country Report - February, 2016
EXECUTIVE SUMMARY4

MACROECONOMIC OVERVIEW5

Bulgaria makes some progress on country-specific recommendations, EC says5

Bulgaria's average per capita income up 2.9% y/y, expenditure down 0.7% y/y in Q45

Bulgaria's long-term convergence interest rate rises to 2.67% in February6

REAL SECTOR6

1.GDP6

Bulgaria's GDP growth speeds up to 3% in 20156

2. Inflation7

Bulgaria reports CPI deflation of 0.5% y/y in February7

Bulgaria's annual PPI deflation softens to 2.9% in January8

Bulgaria's agricultural producer prices rise 9.8% y/y in Q49

3. Industry and Trade9

Bulgaria's business climate improves in February9

Bulgaria's industrial production growth slows to 3% y/y in January10

Bulgaria's construction output drops 10.7% y/y in January10

Bulgaria's retail sales growth decelerates to 1.3% y/y in January11

4. Labour Market12

Bulgaria's unemployment rate drops to 10% in February, labour agency12

Bulgaria's 2015 labour productivity data mixed12

5. Tourism12

Bulgaria's accommodation revenue rises 9% y/y in January12

Foreign tourists in Bulgaria up 18.3% y/y in January13

FISCAL SECTOR13

Bulgaria reports budget surplus of 1.1% of GDP in January-February13

Bulgaria's fiscal reserve rises 17% in January14

Bulgaria issues two Eurobond tranches worth EUR1.994bn15

Bulgaria's government debt rises 9.1% y/y at end-January15

FINANCIAL INTERMEDIATION16

Bulgarian banking sector profit down 29% y/y in January16

Bulgarian unit of Greece's Eurobank concludes acquisition of Alpha Bank branch16

Bulgaria's M3 growth slows, domestic credit turns to annual decline in January17

Bulgaria's deposit, lending interest rates mixed in January18

Assets of Bulgarian resident investment funds drop 1% to EUR406.2mn at end-201518

EXTERNAL SECTOR19

Bulgaria's current account surplus widens 9.4% in 201519

FDI in Bulgaria rises 22.5% in 201520

Bulgaria turns to foreign trade surplus in January20

Bulgaria's gross external debt drops 13.2% in 201521

Bulgaria's foreign reserves rise 0.9% in February22

POLITICS23

EU's Juncker hints at separating Bulgaria, Romania under CVM process23

Bulgaria's ruling GERB party leads in opinion poll23



Table 1 GDP, % y/y real7

Table 2 CPI, % y/y8

Table 3 Domestic market PPI, % y/y9

Table 4 Bulgaria consolidated budget, BGN mn14

Table 5 Fiscal reserve, BGN mn14

Table 6 Government debt, EUR mn15

Table 7 Money supply, domestic credit, loans18

Table 8 Current account, EUR mn19

Table 9 Foreign trade, FOB/FOB, BGN mn20

Table 10 Gross external debt, EURmn21





Figure 1 Long-term convergence interest rate6

Figure 2 Real GDP growth, %7

Figure 3 Bulgaria CPI, PPI8

Figure 4 Industrial output10

Figure 5 Construction output11

Figure 6 Retail sales12

Figure 7 Fiscal reserve, BGN mn14

Figure 8 Government debt, EUR mn16

Figure 9 Average interest rates on new euro loans18

Figure 10 Foreign trade21

Figure 11 Gross external debt, EUR mn22

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 Veronica

+1 718 514 2762

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, ...

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 ...

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

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

  • $ 20469
  • Industry report
  • September 2016
  • by Global Research & Data Services

The expansion of the global gold industry is forecast to reach 5.0% p.a. in the coming years. Between 2009 and 2015 the market increased with an average annual growth of 4.0%. Currently, unwrought gold ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

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