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BCCI Macroeconomic Indicators

BCCI Macroeconomic Indicators. Source: Ministry of Economy. Bulgarian Economy in 2002: Well on Track. Economic growth of 4.5% in Q3 and 4.3% for the first three quarters: Bulgaria is among the leaders in Europe Inflation of 3.8% Record high forex reserves: EUR4.56bn (November 2002)

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BCCI Macroeconomic Indicators

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  1. BCCIMacroeconomic Indicators Source: Ministry of Economy

  2. Bulgarian Economy in 2002: Well on Track • Economic growth of 4.5% in Q3 and 4.3% for the first three quarters: Bulgaria is among the leaders in Europe • Inflation of 3.8% • Record high forex reserves: EUR4.56bn (November 2002) • Near record low external public debt for the first eleven months: USD8.2bn • Robust growth in tourism revenues: 9.98% compared to 2001 • Unemployment of 16.27%, a drop of 1.63% compared to 2001 • Current and trade account deficits to GDP ratios improving • Presence of “functioning market economy” (EC Report)

  3. Macroeconomic Stability - Testimony from Abroad • The Government’s economic program has received positive evaluation. The country’s credit rating has been raised on several occasions and currently stands at BB (with positive outlook) according to Standard&Poor’s, BB (with positive outlook) by Fitch IBCA, and B1 (with positive outlook) by Moody’s). Japan Credit Rating Agency recently assigned Bulgaria a rating of BB (with positive outlook). More rating upgrades are expected in 2003. • Support of the international financial institutions • the IMF approved a two-year stand-by agreement for SDR250m • the World Bank adopted a supporting strategy worth USD750m in total • the EBRD launched a USD500m private sector financing program

  4. GDP Growth (by Quarters, %) Source: CANSTAT, EUROSTAT

  5. GDP Growth (%) Source:EBRD, Ministry of Economy

  6. Gross Domestic Product (EUR bn) Source: Ministry of Finance

  7. GDP Structure (by Sector, %) Source: National Statistics Institute

  8. GDP Structure (by Ownership, %) Source: National Statistics Institute

  9. Annual Inflation (%, Year-End, 1991-2003E) Source: National Statistics Institute

  10. Inflation (%, Year-End) Source: Governmental Sourcesand National Statistics Institute

  11. 2.5% Base (Benchmark) Interest Rate(%, 01/1998-01/2003) Source: Bulgarian National Bank

  12. Base (Benchmark) Interest Rate(%, Year-End) Source: Governmental Sources and Bulgarian National Bank

  13. Bulgaria CEE Countries (2001) Budget Surplus/Deficit (% GDP) Source: Governmental Sources and Ministry of Finance

  14. Eurobond Issue 12/11/2001 4 062 Foreign Exchange Reserves (EUR m) Source: Bulgarian National Bank

  15. Foreign Debt (USD m, 1996-2002E) Source: Bulgarian National Bank

  16. Maastricht criterion Government Debt(% GDP, 1997-September 2002) Source: Bulgarian National Bank

  17. Average Salary (EUR) Source: National Statistics Institute

  18. Annual Salaries (USD, 2002) Source: EBRD

  19. Gross Monthly Salary Levels (USD) Low average High average Source: AIMS Human Capital Bulgaria

  20. Gross Monthly Salary Levels (USD) Low average High average Source: AIMS Human Capital Bulgaria

  21. Gross Capital Formation (% GDP) Source: Ministry of Finance and National Statistics Institute

  22. Macroeconomic Indicators (1) Source: Ministry of Finance

  23. Macroeconomic Indicators (2) Source: Ministry of Finance, Ministry of Economy and Bulgarian National Bank

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