Bulgaria's economy expanded 0.2% y/y in the second quarter of 2013, slowing down from 0.4% growth in Q1. The government will likely lower the 2013 economic growth projection to 0.6%-0.8% due to unfavourable investment climate in Bulgaria (and the EU as a whole) and declining domestic demand.
In July, industrial production dropped year on year, but retail sales registered positive growth. The business climate index stayed flat month on month in August. The balance of the general government budget was a deficit of BGN 168.2mn (EUR 86mn) in January to July 2013, reversing a surplus of BGN 200.3mn in the same period of 2012.
The current account turned to a surplus of EUR 231mn in the first six months of 2013 after posting a EUR 945mn deficit a year earlier.
Socialist BSP, Bulgaria's current senior ruling party, has a 2.8pps lead over its major opponent - CEDB, according to an Alpha Research poll carried out between August 19-27 among 1,028 participants.
In July, industrial production dropped year on year, but retail sales registered positive growth. The business climate index stayed flat month on month in August. The balance of the general government budget was a deficit of BGN 168.2mn (EUR 86mn) in January to July 2013, reversing a surplus of BGN 200.3mn in the same period of 2012.
The current account turned to a surplus of EUR 231mn in the first six months of 2013 after posting a EUR 945mn deficit a year earlier.
Socialist BSP, Bulgaria's current senior ruling party, has a 2.8pps lead over its major opponent - CEDB, according to an Alpha Research poll carried out between August 19-27 among 1,028 participants.
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