BCCI Macroeconomic Indicators Source: Ministry of Economy
Bulgarian Economy in 2002: Well on Track Economic growth of 4.5% in Q3 and 4.3% for the first three quarters: Bulgaria is among the leaders in Europe Inflation of 3.8% Record high forex reserves: EUR4.56bn (November 2002) Near record low external public debt for the first eleven months: USD8.2bn Robust growth in tourism revenues: 9.98% compared to 2001 Unemployment of 16.27%, a drop of 1.63% compared to 2001 Current and trade account deficits to GDP ratios improving Presence of “functioning market economy” (EC Report)
Macroeconomic Stability - Testimony from Abroad The Government’s economic program has received positive evaluation. The country’s credit rating has been raised on several occasions and currently stands at BB (with positive outlook) according to Standard&Poor’s, BB (with positive outlook) by Fitch IBCA, and B1 (with positive outlook) by Moody’s). Japan Credit Rating Agency recently assigned Bulgaria a rating of BB (with positive outlook). More rating upgrades are expected in Support of the international financial institutions –the IMF approved a two-year stand-by agreement for SDR250m –the World Bank adopted a supporting strategy worth USD750m in total –the EBRD launched a USD500m private sector financing program
GDP Growth (by Quarters, %) Source: CANSTAT, EUROSTAT
Source:EBRD, Ministry of Economy GDP Growth (%)
Gross Domestic Product (EUR bn) Source: Ministry of Finance
GDP Structure (by Sector, %) Source: National Statistics Institute
GDP Structure (by Ownership, %) Source: National Statistics Institute
Annual Inflation (%, Year-End, E) Source: National Statistics Institute
Inflation (%, Year-End) Source: Governmental Sources and National Statistics Institute
Base (Benchmark) Interest Rate (%, 01/ /2003) Source: Bulgarian National Bank 2.5%
Base (Benchmark) Interest Rate (%, Year-End) Source: Governmental Sources and Bulgarian National Bank
Budget Surplus/Deficit (% GDP) Source: Governmental Sources and Ministry of Finance CEE Countries (2001) Bulgaria
Foreign Exchange Reserves (EUR m) Eurobond Issue 12/11/2001 Source: Bulgarian National Bank
Foreign Debt (USD m, E) Source: Bulgarian National Bank
Government Debt (% GDP, 1997-September 2002) Source: Bulgarian National Bank Maastricht criterion
Source: National Statistics Institute Average Salary (EUR)
Source: EBRD Annual Salaries (USD, 2002)
Source: AIMS Human Capital Bulgaria Low average High average Gross Monthly Salary Levels (USD)
Low average High average Source: AIMS Human Capital Bulgaria Gross Monthly Salary Levels (USD)
Gross Capital Formation (% GDP) Source: Ministry of Finance and National Statistics Institute
Macroeconomic Indicators (1) Source: Ministry of Finance
Macroeconomic Indicators (2) Source: Ministry of Finance, Ministry of Economy and Bulgarian National Bank