Bulgaria's FDI Starts Crawling Up in Q1 2012

Bulgaria has registered an increase in its foreign direct investment in January-March 2012 year-on-year, according to the latest data of the Bulgarian National Bank released Wednesday.

According to preliminary data, the Foreign direct investment in Bulgaria for January - March 2012 amounted to EUR 236.8 M (0.6% of GDP), compared to a negative FDI of EUR 42.2 M (0.1% of GDP) for January - March 2011.

Bulgaria's attracted Equity Capital (acquisition/disposal of shares and equities in cash and contributions in kind by non-residents in/from the capital and reserves of Bulgarian enterprises and receipts/payments from/for real estate deals in the country) for January - March 2012 amounted to EUR 180.3 M.

It decreased by EUR 51.9 M compared to the equity capital attracted in the same period of 2011 (EUR 232.2 million).

Bulgaria's receipts from real estate investments of non-residents amounted to EUR 44.9 M, up from EUR 37 M attracted in January - March 2011.

The other capital, net (the change in the net liabilities of the direct investment enterprise to the direct investor on financial loans, suppliers' credits and debt securities) was positive, amounting to EUR 38.6 M in January - March 2011, compared to a negative other capital, net of EUR 299.3 M in January - March 2011.

Based on preliminary data on profit/loss, Bulgaria's Reinvested Earnings (the share of non-residents in the undistributed earnings/ loss of the enterprise) in January - March 2012 were estimated at EUR 17.9 M, compared with EUR 24.8 M in the same period of 2011.

By country, the largest direct investments in Bulgaria for the period January - March 2012 were those of the Netherlands (EUR 257.1 M) and Switzerland (EUR 98.4 M).

Bulgaria's largest negative investment flows for the period were towards Germany (EUR -152.3 M), Greece (EUR -61.8 M) and UK (EUR -49.9 M) mainly due to net payments on intercompany credits in accordance with the loan repayment schedules of enterprises.

By branch, Bulgaria's largest investments for January – March 2012 were in Electricity, gas and water supply (EUR 118.9 M). Bulgaria's largest net payments in the reporting period were in Real estate, renting and business activities (EUR -35.2 M).

According to preliminary data in January - March 2012, Bulgaria's direct investment abroad increased by EUR 20.7 M, compared to EUR 44 million in January - March 2011.

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