IMF Staff Country Reports

Bulgaria : 2007 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria

Author/Editor:

International Monetary Fund

Publication Date:

December 19, 2007

Electronic Access:

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Summary:

This 2007 Article IV Consultation highlights that Bulgaria’s large external imbalance has continued to widen. Driven by massive capital inflows, particularly foreign direct investment inflows, the current account deficit could reach a record level of 20 percent of GDP in 2007. Although the present level of the current account deficit is clearly above sustainable levels, external competitiveness has remained adequate. Bank credit has again started to expand rapidly after the administrative credit limits imposed during 2005–06 lapsed.

Series:

Country Report No. 07/389

Subject:

Article IV consultation reports Bulgaria Capital flows Capital inflows Credit expansion Current account deficits Economic conditions Economic indicators Economic reforms Financial sector Fiscal policy Incomes policy Public information Social indicators Staff Reports