Bulgaria Current Account Deficit Shrinks Rapidly over Financial Crisis

The Bulgarian National Bank has announced narrowing curent account deficit figures. Photo by seecorridors.com

The Bulgarian National Bank (BNB) revealed in a report Friday that Bulgaria's current account deficit stood at EUR 439.7 M in January 2009, narrowing from EUR 806.8 M in January 2008.

PM Sergey Stanishev said "the country's deficit has begun rapidly shrinking which means that the economy has unsurprisingly slowed down," Bulgarian National Radio reported.

The current and capital account deficit amounted to EUR 288.7 M in January compared to EUR 806.2 M recorded in the previous year.

In January, the trade deficit stood at EUR 339.3 M, narrowing from EUR 607.8 million in 2008, RTT news reported.

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!