Bulgaria’s current account posts 1.0%/GDP surplus through July

SOFIA (Reuters) – Bulgaria posted a current account surplus of 803.7 million euros ($801.6 million), equal to 1.0% of economic output in the first seven months, compared to a surplus of 0.4% in the same period a year ago as income from services and production increase, the central bank said on Monday.

In July alone, the current account posted a surplus of 95.8 million euros compared to a surplus of 271 million euros a year ago, data showed.

Foreign direct investment, much needed to boost growth in the European Union’s country was 925 million euros through July, below 1.06 billion euros in the same period of 2021.

The finance ministry sees Bulgaria’s current account posting a deficit of 2.4% of gross domestic product in 2022, up from a shortfall of 0.4% in 2021.

($1 = 1.0026 euros)

Source link