FDI IN BULGARIA DROPS 40% IN JANUARY-OCTOBER 2011
Foreign direct investment (FDI) in Bulgaria fell by 40 per cent in the months to October 2011 compared to the same 10-month period of 2010, data from Bulgarian National Bank (BNB) shows. Were it not for the privatisation of cigarette company Bulgartabac, the drop would have amounted to 50 per cent, according to calculations by capital.bg
According to the BNB figures, foreign companies invested 668 million euro from January to October 2011. During the corresponding 2010 period, the amount was 1.13 billion euro.
The detailed report by the central bank shows that 14 per cent of the FDI is attributable to the sale of the tobacco holding company. Bulgartabac passed into private hands in October 2011 for the sum of 100.1 million euro. Capital.bg remarked that the money was spent on an existing business, not invested in a new one.
