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

December 19, 2007

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Bulgaria: 2007 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria, (USA: International Monetary Fund, 2007) accessed November 22, 2024

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.

Subject: Balance of payments, Credit, Current account deficits, External debt, Fiscal policy, Fiscal stance, Income, National accounts

Keywords: Authority, Bank credit growth, CR, Current account deficits, Deficit, EU accession, Fiscal stance, Global, Headline HICP inflation, Headline inflation, Income, Investment boom, ISCR, Labor market condition, Revenue windfall, Saving-investment imbalance, Surplus

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/389
Stock No:

1BGREA2007002
ISBN:

9781451804577
ISSN:

1934-7685

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