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Current Account Shows Deficit after Three Months of Surplus.
(From PARI Daily)
Byline: Valentina ILIEVA
The trade gap amounted to USD 1.537 billion at the end of September
BULGARIA'S current account showed a deficit of USD 12.2 million in September, compared to a USD 50.2 million surplus a year earlier, BNB balance of payments data show. In the summer months (June, July and August) the current account was in the black due to the tourism revenues, which produced a USD 152.6 million surplus in August. That made a decrease by BGN 164.8 million in a month alone.
According to BNB's analysts, the higher crude and natural gas prices contributed USD 76.9 million to the worsening of the current account. The unfavourable trade balance and the increase in the income gap also influenced the widening of the current account deficit.
The balance of tourism amounted to USD 834.1 million, compared to USD 676.6 million for January-September 2002. Foreign direct investment covered 104% of the current account gap for ...
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