Recession Narrows Bulgaria 2009 Current Account Gap

Finance | February 15, 2010, Monday // 15:42|  views

For December alone, the deficit slowed to EUR 327 M from EUR 966 M a year earlier. Photo by BGNES

Bulgaria's current account deficit shrank nearly three times last year as the crisis bit and demand on the domestic market dropped, central bank data showed on Monday.

The deficit fell to EUR 2.9 B or 8,6% of GDP last year from EUR 8.7 B or 25,4 % of GDP in 2008, the data showed.

Foreign direct investment plunged to EUR 2.8 B in 2009 from EUR 6.5 B a year earlier, but covered 97.7% of the current account gap.

For December alone, the deficit slowed to EUR 327 M from EUR 966 M a year earlier.

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Tags: GDP, current account deficit

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