Bulgaria Current Account Deficit Up in June

Aug 14, 2007 - Bulgaria's current account deficit in June increased to euro248 million (US$338 million) compared with euro87 million in the same month last year, the country's central bank said Tuesday.

In the first half of the year, the current account deficit widened to euro2.8 billion (US$3.8 billion), or 10.6 percent of the gross domestic product, the bank said in a statement.

In the same period of 2006, the current account deficit was euro1.8 billion, or 7.3 percent of GDP.

The main reason was the growing foreign trade deficit, which reached euro3.2 billion (US$4.4 billion), or 12 percent of GDP in the 1st half, compared with euro2.2 billion, or 8.8 percent of GDP in the same period of last year.

Direct foreign investment in the first half reached euro2.1 billion (US$2.9 billion), or 7.9 percent of GDP, compared with euro2 billion, or 7.9 percent of GDP, in the same period of 2006.