Monday, Oct 21, 2019. 18:19

FDI into Bulgaria rises in Jan-Aug

Photo by Takashi Images / Shutterstock.com

Foreign direct investment into Bulgaria grew to EUR 603.5 million in the period from January-August 2019, up from EUR 407.2 mln in the same period of last year, the central bank has announced.

The Bulgarian National Bank Building in Sofia. Photo by Takashi Images/Shutterstock.

In a statement released on Friday, the Bulgarian National Bank said FDI inflow was equal to 1% of the BNB’s 2019 forecast for gross domestic product.

Earlier in October, Dimitar Radev, Governor of the BNB, gave a wide ranging interview to Investor Digest. Asked what effect the current low interest rates have on the Bulgarian economy, he said the immediate effect is positive.

“The increased credit activity is one of the indicators for this. Such a development, however, is connected with some serious challenges; for instance, the profitability of the banks as a result of the diminishing interest margins. I should say that so far the Bulgarian banks manage to deal with this challenge,” Radev told Investor Digest.

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