Bulgaria: Selected Issues and Statistical Appendix

June 28, 2004

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Bulgaria: Selected Issues and Statistical Appendix, (USA: International Monetary Fund, 2004) accessed November 27, 2024

Summary

This Selected Issues paper for Bulgaria highlights that the rapid credit expansion has not raised significant financial stability issues, but has been a key factor in the sharp weakening of the external current account. Although the deficit has been mostly financed by foreign direct investment (FDI) inflows, deficits of this magnitude cannot be sustained as privatization inflows will dry up with the completion of the government’s privatization program. Concurrent with the surge in bank credit, the external current account has weakened, reaching a deficit of 8½ percent of GDP in 2003.

Subject: Balance of payments, Banking, Credit, Current account deficits, External debt, Financial institutions, Loans, Money, Public debt

Keywords: Baltics, Central and Eastern Europe, CR, Credit, Credit growth, Current account, Current account deficit, Current account deficits, Deficit, Eastern Europe, EU accession, Europe, FDI, FDI-current account ratio, Foreign currency, Global, ISCR, Loans

Publication Details

Pages:

148
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/177
Stock No:

1BGREA0032004
ISBN:

9781451804478
ISSN:

1934-7685

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