Foreign Direct Investments in Bulgaria at EUR 740 Mln in Q1

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Foreign Direct Investments in Bulgaria at EUR 740 Mln in Q1

Foreign direct investment in Bulgaria amounted to EUR 740 million (2.3% of GDP) in the first quarter of 2008, compared to EUR 897.2 mln (3.1% of GDP) attracted in for the year-ago period, preliminary data realesd by the Bulgarian National Bank (BNB) show.

The attracted equity capital (acquisition/disposal of shares and equities in cash and contributions in kind by non-residents in/from the capital and reserves of Bulgarian enterprises and receipts/payments from/for real estate deals in the country) in the first three months of the year amounted to EUR 463.8 mln, which was 62.7% of the foreign direct investment.

It decreased by EUR 102.5 mln compared to the figure attracted in the corresponding period of 2007 (EUR 566.3 mln). The receipts from real estate investments of non-residents amounted to EUR 340.7 mln compared to EUR 352.1 mln for January – March 2007.

The attracted equity capital on privatisation deals with non-residents (that have acquired over 10% of the equity in a Bulgarian enterprise), reported in January – March 2008 did not increase, compared to an increase of EUR 1.4 mln for the year-ago period. The attracted equity capital on non-privatisation deals totalled EUR 463.8 mln in the reporting period, compared to EUR 564.9 mln for the corresponding period in 2007.

The other capital, net (the change in the net liabilities of the direct investment enterprise to the direct investor on financial loans, suppliers’ credits and debt securities) was positive, amounting to EUR 181.3 mln in January – March 2008, compared to a net other capital, amounting to EUR 249.2 mln in the same period of 2007.

The reinvested earnings (the share of non-residents in the undistributed earnings/ loss of the enterprise) in the first three months of 2008 are estimated at EUR 94.9 million compared to EUR 81.7 million in the same period of the previous year, preliminary data show .

By country, the largest investments in Bulgaria for the reporting period were those of the United Kingdom (12.7% of the total foreign direct investment), the Luxembourg (12%) and Germany (10.2%) .

By branch, the largest investments for January – March 2008 were in real estate, renting and business activities (EUR 296.9 mln), Financial intermediation (EUR 196.6 mln) and Construction (EUR 100.8 mln).

The direct investment abroad increased by EUR 391.3 mln in the first quarter compared to a decrease of EUR 7.6 mln for the year-ago period, preliminary data show. The invested equity capital abroad amounted to EUR 390.9 mln in 2008, compared to EUR 29.7 mln in the period January to March 2007.

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