CA GAP UP
Bulgaria’s current account deficit for the first five months of the year was 3.06 billion euro, an increase of 18.1 per cent over the same period of 2007, when the deficit was 2.59 billion euro, Bulgarian National Bank data published on July 15 showed. Relative to the country’s gross domestic product (GDP), the CA gap increased to 9.3 per cent, from 8.9 per cent in January-May 2007. In May, the current account deficit was 627.4 million euro, 36 per cent up over 460.5 million euro in May 2007.

NOWHERE
Bulgaria’s fledgling convention tourism industry is held back by the lack of contemporary well-equipped congress centres, the poor quality of service and sparse leisure options, chairperson of the State Agency for Tourism Anelia Kroushkova said. Bulgaria could be raking in $100 million annually from convention tourism, she said. Incoming business travellers fell to 375 000 in 2007 from 400 000 a year earlier. But numbers perked up in the first quarter of 2008, when Bulgaria received about 100 000 business travellers, up 20 per cent over the same period of 2007, Kroushkova said.

STILL UP
Year-on-year inflation in Bulgaria rose to a new 10-year high of 15.3 per cent in June, despite prices decreasing by 0.2 per cent for the month, preliminary data released by the National Statistical Institute (NSI) on July 14 2008 showed. The year-on-year figure increased because deflation in June 2007 was 0.4 per cent, according to NSI data. Food prices, which have been the main driver of inflation since April 2007, fell by 2.1 per cent in June, the second straight month of decrease after a 0.3 per cent drop in May. The decrease of prices of foodstuffs and beverages was the main reason for deflation in June, NSI said in a statement.

MORE NEW VEHICLES
New motor vehicle sales rose 21 per cent year-on-year in the first half of 2008, data released by the local car importers association showed. Local dealers moved 30 189 cars, vans, trucks, buses and motorcycles in January-June, up 4386 units over the year-ago period. Actual sales are slightly higher since not all domestic car dealers are members of the association. Car and light truck sales were up 18.5 per cent year-on-year to 28 001 units.