site.btaCurrent and Capital Account Records EUR 704.2 Mln Surplus in June 2016

Current and Capital Account Records EUR 704.2 Mln Surplus  in June 2016

Sofia, August 18 (BTA) - The current and capital account recorded a surplus of 704.2 million euro in June 2016, compared with a positive balance of 171.6 million euro in June 2015, the Bulgarian National Bank (BNB) said in a press release.

In January - June 2016 the current and capital account was positive, amounting to 1,461.3 million euro (3.2 per cent of GDP), compared with a surplus of 637.3 million euro (1.4 per cent of GDP) in the same period of last year.

The current account was positive this June, amounting to 562.8 million euro, compared with a surplus of 100.3 million euro in June of 2015.

The current account was positive for the first six months of 2016 and amounted to 693.8 million euro (1.5 per cent of GDP), compared with a deficit of 91.9 million euro (0.2 per cent of GDP) in the first half of 2015.

The capital account recorded a surplus of 141.3 million euro this June, compared with a positive balance of 71.3 million in June of 2015.

In January-June 2016 the capital account recorded a surplus of 767.5 million euro (1.7 per cent of GDP), compared with a positive balance of 729.2 million euro (1.7 per cent of GDP) in the same period of 2015.

The financial account recorded a net inflow of 681.4 million euro this June, compared with a positive balance of 46 million euro in the same month of last year.

The current account includes inflows and outflows from trade, payments and proceeds for services, the money emigrants send back to their relatives, as well as the current transfers between Bulgaria and the rest of the world. The capital account records the capital transfers and the acquisition or provision of intangible and nonfinancial assets. The financial account covers the investments made by foreign companies in Bulgaria, their dividends, the investment activity of local companies abroad, as well as the credit relations between domestic and foreign banks.

The balance on goods recorded a deficit of 55.5 million euro in June 2016, compared with a deficit of 115.1 million euro last June. The balance on goods was negative in the first half of 2016, amounting to 538.2 million euro (1.2 per cent of GDP), compared with a deficit of 936.5 million euro (2.1 per cent of GDP) in January - June 2015.

Services recorded a positive balance of 328.7 million euro in June 2016, compared with a surplus of 368.4 million euro last June. Services recorded a surplus of 731.8 million euro (1.6 per cent of GDP) in the first half of this year, compared with a positive balance of 801.8 million euro (1.8 per cent of GD P) in the same period of 2015.

Foreign direct investments in Bulgaria, under the directional principle, totalled 182.1 million euro in June of 2016 according to preliminary data, compared with 169.2 million euro last June.

Foreign direct investments in Bulgaria amounted to 778.4 million euro in the first half of 2016, compared with a total of 957.9 million euro in the same period of 2015.