- In May 2010 the Current account was negative and amounted to EUR 3.8 mn.
- As of end-May 2010 gross external debt1 was EUR 36,518.1 mn. (104.9% of GDP) and which was by EUR 1,187.6 mn. less against the end of 2009
- International reserves increased by 1.2% (EUR 137.3mn) w/w to EUR 11.58bn as of July 16
- In June 2010 the total Business climate indicator decreases by 1.2 % in comparison with May due to the worsening of the Business climate in industry, construction and service sector
- The consumer price index for (CPI) June 2010 compare to May 2010 is 99.1%q which means that the monthly inflation is minus 0.9%.
- Producer Price index on Domestic market in May 2010 rose by 5.8% compared to the same month of 2009
- The preliminary data showed that the industrial production index increased by 0.4% in May 2010 as compared to May 2009
- According to the preliminary data the trade turnover in May 2010 fell by 12.4% in comparison with the same month of the previous year
- The rate of unemployment fell further by 0.27pps in a month to 9.26% as of the end of June
- The fiscal reserve amounted to BGN 6 584.6 mn. at the end of May
- In June 2010, the annual growth rate of broad money (monetary aggregate M3) was 8% compared to 8.1% in May 2010
- At the end of June 2010, deposits of the Non-government sector amounted to BGN 40.822 bn. (59.9% of GDP)
- The total volume of the BSE in June was BGN 22 437 mn.
- The property prices in the seventh biggest cities in Bulgaria drop with – 1.0% in June compare to the previous month.
| Bulgaria: Key Indicators | |||
| 2008 | 2009 | 2010e | |
| GDP growth (%) y/y | 6.0% | -5.1% | 0.3% |
| Inflation eoy (%) | 7.8% | 0.6% | 2.2% |
| Unemployment rate (%) | 6.31% | 9.10% | 12.0% |
| Current Account/GDP (%) | -22.5% | -8.6% | -7.6% |
| Trade balance EUR mn | -8 832 | -4 084 | -5 050 |
| FDI EUR mn. | 5 430 | 2 845 | 2 900 |
| Government Debt/GDP (%) | 16.1% | 16.0% | 15.0% |
| Budget Surplus/ GDP(%) | 3.0% | -0.8% | -3.90% |
| 10 year bond yield (avarage) | 5.38% | 7.25% | 7.0% |
| Source: BNB, estimations UBB, MF forecasts | |||
I.EXTERNAL SECTOR
1.Balance of payments
In May 2010 the Current account was negative and amounted to EUR 3.8 mn.
In May 2010 the Current account was negative and amounted to EUR 3.8 mn. In May 2009 the current account was also negative – EUR 366.2 mn. Main factors for the decrease of the current account deficit compared to May 2009 were the lower deficits on trade balance (by EUR 138 mn.) and on income balance (by EUR 83.2 mn.), as well as the higher (by EUR 87.9 mn.) current transfers balance. According to the BNB data in the period January – May 2010, the current account deficit was EUR 708.9 mn. (2% of GDP), against a deficit of EUR 2,365.7 mn. (7% of GDP) for January – May 2009. The factors for the current account deficit decrease were the lower deficits on trade balance (by EUR 814.7 mn.), on income balance (by EUR 354 mn.), as well as the higher (by EUR 274.5 mn.) current transfers balance and the higher by (EUR 213.6 mn.) service balance. The trade deficit in January – May 2010 amounted to EUR 1,234.8 mn. (3.5% of GDP), compared to a deficit of EUR 2,049.5 mn. (6.1% of GDP) for January – May 2009. In May 2010 it amounted to EUR 297.3 mn., compared to a deficit of EUR 435.3 mn. for May 2009. Exports (FOB) in January – May 2010 amounted to EUR 5,396.4 mn. against EUR 4,419 mn. for January – May 2009, which is a growth rate of 22.1% yoy against a decrease yoy of 30.4% for January – May 2009. In May 2010 exports (FOB) was EUR 1,212.3 mn. against EUR 905.8 mn. for May 2009. They increased by 33.8% yoy against a decrease yoy of 31.6% in May 2009. Imports (FOB) in January – May 2010 amounted to EUR 6,631.3 mn., against EUR 6,468.6 mn. for the January – May period in 2009, increasing by 2.5% yoy against a decrease yoy of 33.2% for January – May 2009. In May 2010 imports (FOB) amounted to EUR 1,509.6 mn., against EUR 1,341.1 mn. in May 2009, increasing by 12.6% yoy against a decrease yoy of 37% for May 2009. The balance on the Services item in January – May 2010 was positive, amounting to EUR 241.1 mn., against a positive balance amounting to EUR 27.5 mn. for January – May 2009. In May 2010 the balance on the item was positive amounting to EUR 112.9 mn. compared to a positive balance of EUR 59.7 mn. for May 2009. Income (net) item in January – May 2010 was negative amounting to EUR 452.3 mn. compared to a negative item of EUR 806.2 mn. for January – May 2009. In May 2010 the balance on the item was also negative – EUR 48 mn. against a negative balance of EUR 131.3 mn. for May 2009. Net Current transfers in January – May 2010 amounted to EUR 737 mn. (2.1% of GDP) against EUR 462.5 mn. (1.4% of GDP) for January – May 2009. In May 2010 the item Current transfers, net was positive amounting to EUR 228.6 mn. against a positive item of EUR 140.7 mn. for May 2009. The Capital account3 balance in January – May 2010 was positive amounting to EUR 96.5 mn., compared to a positive balance of EUR 296.4 mn. for January – May 2009. The Financial account balance in January – May 2010 was negative amounting to EUR 998.9 mn., compared to a positive balance of EUR 398.5 mn. for January – May 2009.
Foreign direct investment abroad in January – May 2010 was EUR 29 mn. against EUR 29.5 mn. for January – May 2009. Foreign direct investment in Bulgaria was EUR 253 mn. (0.7% of GDP) against EUR 1,211.1 mn. (3.6% of GDP) for January – May 2009. The direct investment covered 35.7% of the current account deficit against 51.2% for January – May 2009. Portfolio investment – assets in January – May 2010 increased by EUR 71.3 mn., compared to an increase of EUR 436.6 mn. for January – May 2009. Portfolio investment – liabilities in January – May 2010 decreased by EUR 107.4 mn. In the period January – May 2009, they decreased by EUR 61.8 mn. In May 2010 portfolio investment – liabilities decreased by EUR 84.6 mn. against an increase of EUR 22.5 mn. in the same month of 2009. Other investment – assets in January – May 2010 decreased by EUR 282.7 mn., compared to an increase of EUR 20.5 mn. for January – May 2009. In May 2010 other investment assets decreased by EUR 334.9 mn., compared to an increase of EUR 6.7 mn. in May 2009. Other investment – liabilities in January – May 2010 decreased by EUR 1,311.7 mn. against a decrease of EUR 273.4 mn. for January – May 2009. In May 2010 other investment – liabilities decreased by EUR 388.6 mn., compared to an increase of EUR 195.6 mn. in May 2009. The item Net errors and omissions in January – May 2010 was positive, amounting to EUR 543.9 mn. For January – May 2009 the item was also positive – EUR 636.4 mn. The Overall balance in January – May 2010 was negative, amounting to EUR 1,067.5 mn. compared to a negative overall balance of EUR 1,034.4 mn. for January – May 2009. In the period January – May 2010 the BNB reserve assets6 decreased by EUR 1,067.5 mn. In May 2010 they increased by EUR 12.3 mn.
Balance of payments (chart)
2.External debt
As of end-May 2010 gross external debt1 was EUR 36,518.1 mn. (104.9% of GDP) and which was by EUR 1,187.6 mn. less against the end of 2009
As of end-May 2010 gross external debt1 was EUR 36,518.1 mn. (104.9% of GDP) and which was by EUR 1,187.6 mn. less against the end of 2009 (EUR 37,705.8 mn., 111.3% of GDP). According to the BNB data the highest debt decrease was the decrease (by EUR 1,185.7 mn., 14.1%) of Banks’ liabilities. Compared to end-May 2009 (EUR 37,176.4 mn.) the debt decreased by EUR 658.2 mn. As of end-May 2010 long-term liabilities amounted to EUR 24,880.6 mn. (68.1% of total debt), and short-term liabilities came to EUR 11,637.5 mn. (31.9% of total debt). General Government’s external debt amounted to EUR 2,859.5 mn.3 (8.2% of GDP) as of end-May 2010, increasing by EUR 58.2 mn. (2.1%) against the end of 2009. Compared to end-May 2009 (EUR 2,577.8 mn.) the sector’s debt increased by EUR 281.7 mn. The change yoy was mainly due to the received from the World Bank in June 2009 Development Policy Loan. Banks’ external debt was EUR 7,199.5 mn. (20.7% of GDP). It decreased by EUR 1,185.7 mn. (14.1%) against the end of 2009. Compared to end-May 2009 (EUR 8,530.6 mn.) the sector’s debt decreased by EUR 1,331.1 mn. Other Sectors’ debt was EUR 12,036.3 mn. It increased by EUR 0.9 mn. relative to the end of 2009. Compared to end-May 2009 (EUR 12,148.4 mn.) the sector’s debt decreased by EUR 112.1 mn. As of end-May 2010 the stock of Intercompany Lending was EUR 14,422.9 mn., which was EUR 61.1 mn. (0.4%) less against the end of 2009. Compared to end-May 2009 (EUR 13,919.6 mn.) the sector’s debt increased by EUR 503.2 mn. In January – May 2010, gross external debt service was EUR 3,336.3 mn. (9.6% of GDP) against EUR 2,851.7 mn. (8.4% of GDP) for the same period in 2009. In January – May 2010, loans and deposits received from non-residents were EUR 1,842.8 mn. (5.3% of GDP) against EUR 2,559.5 mn. (7.6% of GDP) for the same period in 2009. General Government received EUR 67.1 mn. (3.6%), Banks received EUR 501.9 mn. (27.2%), Other Sectors - EUR 213.5 mn. (11.6%) and the newly disbursed Intercompany Lending amounted to EUR 1,060.3 mn. (57.5%). As of end- May 2010, net external debt was EUR 19,010.2 mn. (54.6% of GDP). It decreased by EUR 383.4 mn. (2%) against the end of 2009 (EUR 19,393.6 mn., 57.2% of GDP). As of end-May 2009 net external debt amounted to EUR 20,385.8 mn., which was 60.2% of GDP.
Gross External Debt, EUR bn (chart)
3.Foreign reserves
International reserves increased by 1.2% (EUR 137.3 mn) w/w to EUR 11.58bn as of July 16
International reserves increased by 1.2% (EUR 137.3 mn) w/w to EUR 11.58 bn as of July 16. The deposit of the government at the central bank rose by 11.9% (EUR 286.8 mn) during the period while the holdings of commercial banks declined by 6.6% (EUR 143.7 mn) respectively. Foreign reserves fell by 10.3% since the beginning of the year and by 4.7% since end- June. The ratio of foreign reserves to short-term debt deteriorated to 98.1% at end-April from 98.7% at end-March and 100.2% at end-2009.
Foreign Reserves (chart)
II. REAL SECTOR
1.Business Climate
In July 2010 the total Business climate indicator increases by 1.4% in comparison with June due to the improvement of the Business climate in industry and in the service sector
In July 2010 the total Business climate indicator increases by 1.4 % in comparison with June due to the improvement of the Business climate in industry and in the service sector. According to the NSI the composite indicator “business climate in industry” in July 2010 increases by 2.3 % in comparison with the previous month. This is due to the more optimistic managers’ opinions of the present Business situation of enterprises. The assessment of the present production activity also is improving (the balance indicator goes up by 3.9 %). However the expectations about the Business situation and the activity over the next months are more moderate as compared to those from the previous month. There are still expectations about a decrease of personnel among 12.5% of the enterprises. The average capacity utilization in industry in July decreases by 0.6% in comparison with April and it reaches 67.9% . The enterprises report on a capacity surplus with regard to the expected demand over the next months. In July the major problems for the Business development in the sector continue to be the uncertain economic environment and the insufficient demand. The expectations about the exports over the next 3 months are positive. The competitive positions of the enterprises on the domestic and foreign markets (both inside and outside the European Union) are also more favorably assessed.
Producer price index on domestic market in May 2010 rose by 5.8% compared to the same month of 2009. The domestic prices increased in the mining and quarrying industry by 23.8% and in the manufacturing by 10.0%, while in the electricity, gas, steam and air conditioning supply the prices fell by 6.0%. In the manufacturing compared to the same month of 2009, the prices increase was registered in the manufacture of basic metals by 35.3%, in the manufacture of tobacco products by 25.9%, in the manufacture of leather and related products by 4.4%, in the manufacture of other transport equipment by 4.3%. The prices decrease was seen in the manufacture of wood and of products of wood, except furniture by 7.3%, in the manufacture of other non metallic mineral products by 6.5%, in the manufacture of food products by 2.5% and in the manufacture of fabricated metal products, except machinery and equipment by 2.3%. Total Producer Price index in industry in May 2010 increased by 1.7% compared to the previous month. The higher prices were registered in the mining and quarrying industry by 2.8%, in the manufacturing by 1.8% and in the electricity, gas, steam and air conditioning supply by 1.3%.In the manufacturing, more significant price increase was seen in the manufacture of leather and related products by 5.6%, in the manufacture of other transport equipment by 4.8%, in the manufacture of basic metals by 4.6%, in the manufacture of paper and paper products by 4.4%. Total producer price index in May 2010 increased by 9.1% comparing to the same month of 2009. In the manufacturing, the prices rose by 12.9% as compared to May 2009. More significant prices increases were seen in the manufacture of basic metals by 43.8%, in the manufacture of tobacco products by 22.1% and in the manufacture of paper and paper products by 11.2%, while the producer prices decreased in the manufacture of wood and of products of wood, except furniture by 6.2%, in the manufacture of other nonmetallic mineral products by 5.9% and in the manufacture of food products by 1.3%.
Producer Price index y/y (chart)
5.Industrial turnover index
The preliminary data showed that the industrial production index increased by 0.4% in May 2010 as compared to May 2009
The preliminary data showed that the industrial production index increased by 0.4% in May 2010 as compared to May 2009. An increase was registered in the manufacturing by 2.4%, while in the electricity, gas, steam and air conditioning supply production decreased by 4.7% and in the mining and quarrying industry by 2.9%. The production of intermediate goods rose by 7.9%, the production of investment goods by 1.5%, while the production of energy reported a drop by 5.0%. In May 2010, the Industrial Production index decreased by 0.9% as compared to the previous month. A decrease was registered in the electricity, gas, steam and air conditioning supply by 14.3%, while in the mining and quarrying industry the production rose by 2.9% and in the manufacturing by 2.5%. The most significant increases of production in the manufacturing were seen in the manufacture of tobacco products by 36.9%, in the manufacture of other non-metallic mineral products by 17.8%, in the manufacture of beverages by 8.5%, in the manufacture of paper and paper products by 7.0%. There were decreases, in the printing and reproduction of recorded media by 5.2%, in the manufacture of textiles by 2.6%. According to the preliminary data in May 2010 the Industrial Turnover index increased by 12.7% compared to May 2009. The increase in the manufacturing was by 16.6%, in the mining and quarrying industry by 11.4%, while in the electricity, gas, steam and air conditioning supply a decrease by 0.6% was registered. In May 2010, the turnover increased by 1.0% as compared to the previous month. The increase in the manufacturing was by 5.9%, while the electricity, gas, steam and air conditioning supply decreased by 12.9% and the mining and quarrying industry - by 16.3%.
Industrial Turnover index (chart)
6.Retail and wholesale trade
According to the preliminary data the trade turnover in May 2010 fell by 12.4% in comparison with the same month of the previous year
According to the preliminary data the trade turnover in May 2010 fell by 12.4% in comparison with the same month of the previous year. In Retail trade, except of motor vehicles and motorcycles a drop of 8.7%. ‘Retail sale of food, beverages and tobacco’ increased by 1.4% because of the relatively permanent nature of the consumption. Less than average were decreases in ‘Retail sale of automotive fuel in specialized stores’ and in ‘Dispensing chemist; retail sale of medical and orthopedic goods, cosmetic and toilet articles in specialized stores’ - 6.8% and 7.2% respectively, as two activities together formed about one third of the turnover volume. The decline was still significant in ‘Retail sale of computers, peripheral units and software; telecommunications equipment, etc. In specialized stores’ - 19.0% but the decelerated drop was seen.
Wholesale trade, except of motor vehicles and motorcycles fell by 12.1%, as a result of the negative rates in all observed groups. The indices ranged from -7.3% in ‘Wholesale of food, beverages and tobacco’ to -34.2% in ‘Wholesale of other machinery, equipment and supplies’. However the index value was determined largely by the drop of 10.3% in ‘Other specialized wholesale’, in view of the fact that this activity formed about 40% of the turnover volume. The reduction in wholesale and retail trade and repair of motor vehicles and motorcycles was still large - 28.4%, but continued the deceleration of the observed drop. In May 2010 the turnover decreased negligible compared to the previous month, as the total reduction of 1.4% was caused by the opposite rates in the major trade activities. Retail trade, except of motor vehicles and motorcycles rose by 1.8%, but the negative impact of the index had the reduction in wholesale trade, except of motor vehicles and motorcycles - 2.6% and in wholesale and retail trade and repair of motor vehicles and motorcycles - 1.2%. During the period January - May 2010 the turnover in the trade sector fell by 15.6% compared to the same period of the previous year. The rates in the three main trade activities were negative and ranged from 11.3% in Retail trade, except of motor vehicles and motorcycles to 34.2% in Wholesale and retail trade and repair of motor vehicles and motorcycles. The observed drop of 15.0% in wholesale trade, except of motor vehicles and motorcycles had a decisive impact on the total index, as the activity formed about 70% of the trade turnover.
7.Unemployment
The rate of unemployment fell further by 0.27 % in a month to 9.26 % as of the end of June
The rate of unemployment measured by the state labour office in the country fell further by 0.27% in a month to 9.26% as of the end of June. The rate has been falling in monthly terms for a fourth month in a row, but seasonal factors played a major role. The annual growth narrowed further to 2% yoy in June from 2.5% yoy a month earlier.
Unemployment Rate (chart)
III. FISCAL SECTOR
The fiscal reserve amounted to BGN 6 584.6 mn. at the end of May
The revenues from the consolidated fiscal program at the end of May 2010 amounted to BGN 9 357.8 mn., which is 35.3% of the projected in the Budget 2010 revenues. The tax revenues amounted to BGN 7 229.4 mn., which composes 34.3% for the one planed for the year. Non-tax revenues and the subsidiaries amount to BGN 2 128.4 mn. or 39.1 % form the revenues planed for the end of the year. The expenditures on the consolidated fiscal program (including the payment for the EU budget) amount to BGN 10 717.8 which is 39.7% form the parameters set in the budget. The payment for the EU budget amounted to BGN 328.7 mn. At the end of May 2010 the balance of the CFP was negative and amounted to BGN -1 360.0 mn., which formed a deficit in the national budget amounted to BGN 1 122.6 mn., and deficit in the European recourses amounted to BGN 237.4 mn. The fiscal reserve amounted to BGN 6 584.6 mn. The total volume of the subsidiaries and revenues for the republic budget at end of May amounted to BGN 5 987.1 mn, which is 34.9 % form the prognoses of the year. The tax income volume at the end of May 2010 is BGN 4 946.5 mn., which is a 32.2% fulfillment of the annual budget.
Fiscal Reserve (chart)
IV. MONETARY SECTOR
1.Моney Supply
In June 2010, the annual growth rate of broad money (monetary aggregate M3) was 8% compared to 8.1% in May 2010
In June 2010, the annual growth rate of broad money (monetary aggregate M3) was 8% compared to 8.1% in May 2010. At the end of June 2010 M3 amounted to BGN 49.196 bn. (72.2% of GDP3) compared to BGN 48.830 bn. (71.7% of GDP) in May 2010. Its most liquid component – the monetary aggregate M1 – increased by 0.9% annually in June 2010 (1.1% annual increase in May 2010).
Money Supply (M3) BGN mn (chart)
2.Net domestic assets and domestic credit
At the end of June 2010, deposits of the Non-government sector6 amounted to BGN 40.822 bn. (59.9% of GDP)
At the end of June 2010, deposits of the Non-government sector6 amounted to BGN 40.822 bn. (59.9% of GDP). Their annual growth rate was 8% in June 2010 compared to 9.3% in May 2010. The amount of deposits of Non-Financial corporations was BGN 12.050 bn. (17.7% of GDP) at the end of June 2010. Compared to June 2009 it decreased by 1.3% (0.5% annual growth in May 2010). Deposits of Financial corporations increased by 5.7% annually in June 2010 (14.8% annual increase in May 2010). At the end of the month they reached BGN 3.234 bn. (4.7% of GDP). Deposits of Households and NPISHs7 were BGN 25.539 bn. (37.5% of GDP) at the end of June 2010, increasing by 13.4% compared to the same month of 2009 (13.2% annual growth in May 2010). Net domestic assets were BGN 49.149 bn. at the end of June 2010. They increased by 7.8% compared to the same month of 2009 (5.3% annual growth in May 2010). The annual growth rate of their basic component – domestic credit – was 9.1% in June 2010 compared to 7% in May 2010. In June 2010 claims on the Non-government sector8 amounted to BGN 51.501 bn. and rose by 2% annually (2% annual growth in May 2010). At the end of June 2010, claims on loans to the Non-government sector amounted to BGN 50.833 bn. (74.6% of GDP) compared to BGN 50.689 bn. (74.4% of GDP) at the end of May 2010. Their annual growth rate was 2% in June 2010 (2% annual increase in May 2010). The change in claims on loans to the Nongovernment sector was influenced by net purchases of loans by Other MFIs - their volume for the last 12 months was BGN 1.247 bn. On an annual basis, loans sold by Other MFIs amounted to BGN 55.7 mn. (of which BGN 3.5 mn. in June 2010), while the amount of repurchased loans was BGN 1.302 bn. ((in June 2010 there are no repurchased loans). In June 2010 loans to Non-financial corporations increased by 1.2% annually (1.2% growth in May 2010) and at the end of the month amounted to BGN 30.838 bn. (45.3% of GDP). Loans to Households and NPISHs were BGN 19.072 bn. (28% of GDP) at the end of June 2010. They increased annually by 3.7% (4.1% annual growth in May 2010). In June 2010, loans for house purchase grew by 6.2% on an annual basis compared to 6.7% growth in May 2010. The annual growth rate of consumer loans was 5.6% in June 2010 and 5.8% in May 2010. Other loans decreased by 10.8% annually (10.8% decline in May 2010). The total amount of loans granted to Financial corporations was BGN 923 mn. at the end of June 2010 and compared to June 2009, it decreased by 5.4% (10.6% annual decline in May 2010). Net foreign assets amounted to BGN 14.939 bn. at the end of June 2010 compared to BGN 15.549 bn. at the end of May 2010. They increased by 9.8% on an annual basis compared to a 17.7% annual growth in May 2010. Foreign assets increased by 1.9% annually in June 2010 (3.2% growth in May 2010) while foreign liabilities decreased by 4.3% in June 2010 (7.8% annual decrease in May 2010).
| Domestic credit/GDP (%) | |||
| 06/09 | 05/10 | 06/10 | |
| Domestic credit | 68.2% | 76.3% | 78.2% |
| Claims on general government | -7.4% | -4.3% | -2.8% |
| Claims on non-government sector | 75.6% | 80.6% | 81.1% |
| o/w Loans | 45.6% | 48.3% | 48.6% |
| Source: BNB's Monetary survey and Balance sheet of the banking system | |||
| Bank's intermediation ratios (% of GDP) | |||
| 06/09 | 05/10 | 06/10 | |
| Non-Financial Corporations | 46.2% | 48.9% | 49.2% |
| Financial Corporations | 1.4% | 1.3% | 1.5% |
| Households and NPISH | 27.6% | 29.9% | 30.0% |
| - Consumer loans | 10.9% | 12.0% | 12.1% |
| - Loans for house purchase | 12.1% | 13.4% | 13.5% |
| Deposits of NFIs and other clients | 63.2% | 70.7% | |
| assets | 104.1% | 110.5% | |
| Source: BNB's Monetary survey and Balance sheet of the banking system, Ministry of Finance (GDP 2009) | |||
FINANCIAL SECTOR
1.Stock exchange
The total volume of the BSE in June was BGN 22 437 mn.
The total volume of the BSE in June was BGN 22 437 mn. On the official market the traded volume was 10 631 mn., while on the unofficial market the traded volume was BGN 10 280 mn. In June the total volume of the BSE was 0.66 times less compare to the one in May which amounted to BGN 34 281 mn. On the official market the traded volume for June decreased to 23 018 in May compare to 10 631 in May.The average level of the indexes was as follows : 373.02 b.p. for SOFIX, 106.39 for BG40, 38.53 for BGREIT and 284.12 for BGTR30.
Idex values for the period January 2009 - June 2010 (chart)
2.Real estate
The property prices in the seventh biggest cities in Bulgaria drop with – 1.0 % in June compare to the previous month according to the data from the biggest web-site for property sale in Bulgaria
The property prices in the seventh biggest cities in Bulgaria drop with – 1.0 % in June compare to the previous month according to the data from the biggest web-site for property sale in Bulgaria. The most significant was the decrease in the prices in Stara Zagora -10.6%, Blagoevgrad -5.9% and Plovdiv -3.1%. The property prices decrease as well on monthly basis in Sofia and Burgas with -0.7 % and -2.9% respectively. Varna was the only place where the price rose insignificantly with 0.1%.
The avarage property prices in the five biggest cities in Bulgaria in EUR per sq/m (chart)
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Bulletin EN June 2010.pdf, 246 Kb
