Bulgaria's Current Account Deficit Drops Sharply Thanks to Crisis

Bulgarian National Bank data revealed a tangible drop in Bulgaria's current account deficit. Photo by BGNES

Bulgaria's current account deficit for June 2009 was only EUR 122 M as a result of the effects of the global financial crisis, according to data of the Bulgarian National Bank released Thursday.

This a tangible drop compared to the EUR 898 M current account deficit for the month of June 2008.

For the first half of 2009, Bulgaria's current account deficit is EUR 2,130 B (6,3% of the GDP), compared to the deficit of EUR 4,465 B (13,1% of the GDP).

Most of the decline in the current account deficit is the result of the fact that the trade deficit is EUR 1,886 B lower than in the first six months of 2008.

 

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