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BCCI Macroeconomic Indicators Source: Ministry of Economy.

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Presentation on theme: "BCCI Macroeconomic Indicators Source: Ministry of Economy."— Presentation transcript:

1 BCCI Macroeconomic Indicators Source: Ministry of Economy

2 Bulgarian Economy in 2002: Well on Track  Economic growth of 4.5% in Q3 and 4.3% for the first three quarters: Bulgaria is among the leaders in Europe  Inflation of 3.8%  Record high forex reserves: EUR4.56bn (November 2002)  Near record low external public debt for the first eleven months: USD8.2bn  Robust growth in tourism revenues: 9.98% compared to 2001  Unemployment of 16.27%, a drop of 1.63% compared to 2001  Current and trade account deficits to GDP ratios improving  Presence of “functioning market economy” (EC Report)

3 Macroeconomic Stability - Testimony from Abroad  The Government’s economic program has received positive evaluation. The country’s credit rating has been raised on several occasions and currently stands at BB (with positive outlook) according to Standard&Poor’s, BB (with positive outlook) by Fitch IBCA, and B1 (with positive outlook) by Moody’s). Japan Credit Rating Agency recently assigned Bulgaria a rating of BB (with positive outlook). More rating upgrades are expected in  Support of the international financial institutions –the IMF approved a two-year stand-by agreement for SDR250m –the World Bank adopted a supporting strategy worth USD750m in total –the EBRD launched a USD500m private sector financing program

4 GDP Growth (by Quarters, %) Source: CANSTAT, EUROSTAT

5 Source:EBRD, Ministry of Economy GDP Growth (%)

6 Gross Domestic Product (EUR bn) Source: Ministry of Finance

7 GDP Structure (by Sector, %) Source: National Statistics Institute

8 GDP Structure (by Ownership, %) Source: National Statistics Institute

9 Annual Inflation (%, Year-End, E) Source: National Statistics Institute

10 Inflation (%, Year-End) Source: Governmental Sources and National Statistics Institute

11 Base (Benchmark) Interest Rate (%, 01/ /2003) Source: Bulgarian National Bank 2.5%

12 Base (Benchmark) Interest Rate (%, Year-End) Source: Governmental Sources and Bulgarian National Bank

13 Budget Surplus/Deficit (% GDP) Source: Governmental Sources and Ministry of Finance CEE Countries (2001) Bulgaria

14 Foreign Exchange Reserves (EUR m) Eurobond Issue 12/11/2001 Source: Bulgarian National Bank

15 Foreign Debt (USD m, E) Source: Bulgarian National Bank

16 Government Debt (% GDP, 1997-September 2002) Source: Bulgarian National Bank Maastricht criterion

17 Source: National Statistics Institute Average Salary (EUR)

18 Source: EBRD Annual Salaries (USD, 2002)

19 Source: AIMS Human Capital Bulgaria Low average High average Gross Monthly Salary Levels (USD)

20 Low average High average Source: AIMS Human Capital Bulgaria Gross Monthly Salary Levels (USD)

21 Gross Capital Formation (% GDP) Source: Ministry of Finance and National Statistics Institute

22 Macroeconomic Indicators (1) Source: Ministry of Finance

23 Macroeconomic Indicators (2) Source: Ministry of Finance, Ministry of Economy and Bulgarian National Bank


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