site.btaCentral Bank Reports Negative Q1 2022 Current Account at 1.3% GDP

In March 2022, the current account was negative amounting to EUR 347.4 million in March 2022, compared with a negative balance amounting to EUR 234.4 million in March 2021. In January - March 2022 the current account was negative and amounted to EUR 946.7 million (1.3% of GDP), compared with a surplus of EUR 35.2 million (0.1% of GDP) in January - March 2021, the Bulgarian National Bank said in its regular quarterly balance of payments report on Wednesday. 

The capital account recorded a deficit of EUR 161.1 million, compared with a positive balance of EUR 75.2 million in March 2021. In January - March 2022 the capital account recorded a negative balance of EUR 394 million (0.5% of GDP), compared with a positive balance of EUR 227.7 million (0.3% of GDP) in January - March 2021.

The financial account recorded a positive balance of EUR 125.2 million, compared with a positive balance of EUR 228.9 million in March 2021. In January – March 2022 the financial account recorded a net outflow of EUR 482.7 million (0.6% of GDP) compared with an inflow of EUR 1,506.7 million (2.2% of GDP) in January – March 2021. 

Foreign direct investment in Bulgaria (under the directional principle) grew by EUR 112.5 million in March 2022 according to preliminary data, compared with an increase of EUR 41.5 million in March 20214. In January - March 2022 foreign direct investment in Bulgaria increased by EUR 1,055.8 million, compared with an increase of EUR 244.1 million in January - March 2021.