FDI IN BULGARIA DOUBLED IN JANUARY

Foreign direct investment (FDI) in Bulgaria was 103.8 million euro in January 2011, almost double that in January 2010, according to Bulgarian National Bank data on March 15 2011.

The considerable increase, however, was not sufficient to offset the overall outflow of capital from the country.

The country's financial account, which gauges incoming and outgoing transfers on financial transactions and operations, ended with a gap of 624.8 million euro in the period.

Meanwhile, a rebound in exports continued to contribute to the state's trade balance and hence its current account, which registered a surplus of 158.1 million euro against a deficit of 291 million euro a year earlier.

The capital account was again a minor contribution to the balance of payments, ending in a deficit of 2.6 million euro against 6.6 million in January 2010.

The total balance of payments recorded a shortfall of 628 million euro, up from 422 million euro a year ago.