## Bulgaria: Selected Issues Paper

_IMF Staff Country Reports, May 13, 2015_

## Source details

**Canonical URL:** [Bulgaria: Selected Issues Paper](https://www.imf.org/en/publications/cr/issues/2016/12/31/bulgaria-selected-issues-paper-42927)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/bulgaria-selected-issues-paper-42927/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/bulgaria-selected-issues-paper-42927/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/bulgaria-selected-issues-paper-42927/bundle-manifest.json)

## Bibliographic details
- Published: May 13, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475555059.002

---

### Overview
- Examines inflation dynamics in Bulgaria from January 2012 to February 2015 and highlights stylized facts about inflation in the country.
- Identifies the period January 2012 to February 2015 as most relevant for attributing factors contributing to recent deflation in Bulgaria and assessing their relative importance.
- Publication date: May 13, 2015.

### Methodology
- Uses regression analysis to quantify contributions of different factors to inflation dynamics during January 2012 to February 2015.

### Key empirical findings
- Regression analysis suggests the most significant factor driving deflation during January 2012 to February 2015 was the inward spillover of low inflationary pressure from the European Union to Bulgaria.
- This inward EU spillover effect was further exacerbated by:
  - Consecutive electricity price cuts in 2013.
  - Fast-falling global commodity prices, especially since late 2014.

### Thematic focus and subjects
- Primary topics addressed: Debt burden, Deflation, External debt, Financial statements, Inflation, Price controls, Prices, Public financial management (PFM).
- Keywords present in the source: capital structures, core inflation, cost structure, CR, data from the Orbis database, Debt burden, Deflation, Financial statements, firm, firms' assets, Global, headline inflation, Inflation, inflation inertia, inflation outlook, investment-to-capital ratio, ISCR, micro data, price, Price controls.

*Source: Bulgaria: Selected Issues Paper, IMF Staff Country Reports, May 13, 2015.*

---

## Content in this bundle

- **Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015**
  - [Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2015/_cr15120.pdf.md){rel="alternate" type="text/markdown"}
  - [Bulgaria: Selected Issues; IMF Country Report 15/120; April 16, 2015 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2015/_cr15120.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/bulgaria-selected-issues-paper-42927_