Bulgaria February Finance Indicators Improve

Bulgarian National Bank publishes preliminary financial and monetary indicators for February 2010. Photo by bnb.bg

Bulgarian National Bank has published its preliminary financial analysis for February 2010, showing an improvement compared with the January figures.

The data shows that the annual growth rate of broad money (M3 monetary aggregate) was 8,1%, compared with 5,5% in January 2010. This represented an amount of BGN 48,482 B, or 71,5% of GDP. January figures were BGN 47,510 B, equating to 70% of GDP.

The M1 aggregate (its most liquid component) increased by 1,8% annually in February, compared with a fall of 5,1% in the preceding month.

Quasi-money* rose by 12,3% year-on-year, to BGN 30,173 B.

Net domestic assets for the month reached BGN 47,987 B, an annual increase of 6,8%. The corresponding figure for January was 6,6%, year-on-year.

The annual growth rate of their basic component – domestic credit – was 7.9% in February 2010, compared to 7.7% in January 2010.

In February 2010, loans for house purchase grew by 9,1% on an annual basis compared to 8..6% in January 2010. The annual growth rate of consumer loans was 6,5% in February 2010 and 6,6% in January 2010.

Net foreign assets amounted to BGN 15,170 B by the end of February 2010, as compared to BGN 14,616 B in January 2010, increasing by 11,3% on an annual basis compared to a 4,3% annual growth in January 2010.

*Quasi-money consists of deposits with agreed maturity of up to 2 years and deposits redeemable at notice of up to 3 months.

The full report is available online HERE

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