Bulgaria: Selected Issues and Statistical Appendix

International Monetary Fund

No 2004/177, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; deficit; current account; foreign currency; FDI; current account deficit; EU accession; credit growth; FDI-current account ratio; Credit; Current account deficits; Loans; Baltics; Global; Europe; Central and Eastern Europe; Eastern Europe (search for similar items in EconPapers)
Pages: 148
Date: 2004-06-28
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Citations: View citations in EconPapers (1)

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