Bulgaria's Current Account Deficit Narrows In December

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Bulgaria's current account deficit narrowed to EUR 326.9 million in December from EUR 965.5 million deficit recorded last year, the National Bank of Belgium said Monday.

The deficit on goods trade contracted to EUR 352.7 million from EUR 641 million a year ago. The services trade balance swung to a surplus of EUR 1 million from EUR 66.9 million deficit.

The capital account surplus shrank to EUR 22.7 billion from EUR 23.2 billion, while the financial account balance turned to a surplus of EUR 70.7 million from EUR 354 million deficit.

In 2009, the current account deficit was EUR 2.43 billion, notably down from EUR 8.37 billion deficit logged in 2008, the central bank said.

The trade deficit in the period January to December amounted to EUR 4.08 billion, accounting for 12.1% of the country's gross domestic product. It compares with a deficit of EUR 8.59 billion last year.

(Market News Provided by RTTNews)