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Bulgaria's Jan-April c/a turns to deficit

Bulgaria's Jan-April c/a turns to deficit Photo by Dennis Jarvis.

SOFIA (Bulgaria), June 19 (SeeNews) - Bulgaria's current account balance showed a deficit of 3.3 million euro ($3.7 million) in the first four months of 2017, compared to a surplus of 718.6 million euro recorded in the same period last year, the central bank, BNB, said on Monday.

The current account deficit in the period January-April of 2017 was equivalent to 0.01% of the gross domestic product (GDP) projected for 2017 by the BNB, as compared to a surplus equivalent to 1.5% of GDP in January-April 2016, the BNB said in a monthly balance of payments report citing preliminary data.

In April alone, Bulgaria’s current account posted a deficit of 88.3 million euro, as compared to a deficit of 61.5 million euro in April 2016.

Bulgaria closed 2016 with a current account surplus of 1.8 billion euro, compared to a surplus of 172.4 million euro in the previous year. Trade deficit totalled 1.79 billion euro, or 3.8% of GDP, in 2016, as compared to a trade gap of 2.6 billion euro, or 5.8% of GDP, a year earlier.

Details follow (in millions of euro):

  Jan-April' 17 Jan-April' 16
CURRENT ACCOUNT -3.3 718.6
- Trade in goods balance -994.0 -495.7
- Balance of services 426.3 480.6
- Primary income -141.0 -416.0
- Secondary income 583.8 568.0
CAPITAL ACCOUNT 121.6 581.7
FINANCIAL ACCOUNT 180.5 593.2

source: BNB

($ = 0.8927 euro)

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