BULGARIA WITH CURRENT SURPLUS, BALANCE DEFICIT
January shows that disbalances in Bulgaria's foreign trade are being mended, while payments to foreign creditors are on the rise. The Bulgarian National Bank revealed Tuesday that for January Bulgaria's current account has a surplus of EUR 158.1 M, compared with a deficit of EUR 291 M for January 2010. At the same time the financial balance has a deficit that has more trippled in comparison with the same month a year ago - EUR 624.8 M against EUR 195 M.
The capital account continues to have a negligible impact on the results of the payment balance, having a deficit of EUR 2.6 M against EUR 6.6 M for Jan 2010. FDIs have almost doubled to EUR 103.8 M, against EUR 57.3 M a year ago. Nevertheless, Bulgarian businesses are paying more than that to institutions abroad, which accounts for the deficit in the balance.
