site.btaIndustrial Production Up by 15% in May Y/Y - Finance Ministry
August 5 (BTA) - In May 2021, industrial production in
Bulgaria grew by 15.1 per cent compared to May 2020, reads the
latest Monthly Report on Bulgarian Economy released by the
Economy Ministry on Thursday. Growth continued to be
driven by the manufacture of motor vehicles, trailers and
semi-trailers, of machinery and equipment, and of metal
products.
The report, elaborated by the Economic and Financial Policy
Department, presents the latest developments of main
macroeconomic indicators based on statistical data as at July
16.
In May 2021 year-on-year, the industrial turnover from the
export of basic metals and energy goods increased, while
electricity, gas, steam and air conditioning supply contributed
the most to domestic turnover growth. The growth in construction
production slowed down significantly and a decline was
registered in building construction. At the same time, the
growth of retail trade turnover was 24 per cent, with an
increasing contribution of retail sale of food, beverages and
tobacco.
According to the National Employment Agency's data, the
registered unemployed numbered 170,716 at the end of June,
similarly to the same month of 2018 and 2019, which is a his-
toric low for this parameter so far. The Finance Ministry's
analysts expect the downward trend in the dynamics of the
registered unemployed to continue in July, followed by a
reversal of the trend in the fall months, mostly due to seasonal
factors.
In June, the monthly Harmonised Indices of Consumer Prices
(HICP) inflation rate was 0 per cent, while the annual HICP
inflation rate accelerated marginally to 2.4 per cent, largely
on the account of the increase in prices of energy and transport
fuels in particular, as the latter reached 24 per cent
year-on-year. Core inflation decelerated by 0.1 percentage
points to 1.4 per cent.
The rising international prices continued to push up nominal
growth in trade with goods in April. Export and import increased
by 49.6 per cent and 56 per cent, respectively, from April
2020. Trade with the EU had the highest contribution to the
nominal growth.
Gross external debt reached 59.1 per cent of projected GDP
at end-April. It increased by 0.5 percentage points from a
month earlier, driven mostly by higher short-term bank credit.
Private sector credit growth accelerated further in May,
up by 6.4 per cent year-on-year, compared to an annual
increase by 6.1 per cent at the end of April.
At еnd-May, a deficit of 0.1 per cent of projected GDP
was reported on the Consolidated Fiscal Program (CFP). In
Jan-
uary-May 2021, CFP receipts increased by 16.1per cent
year-on-year.
At end-May, government debt amounted to 24.5 per cent of
projected GDP, compared to 21 per cent of GDP a year earlier.
RY/DS
/DT/
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