Bulgaria's Central Bank reports drop in foreign investment

Bulgaria's Central Bank reports drop in foreign investment


Bulgaria becomes unattractive for foreign investment, shows a report of the Bulgarian National Bank (BNB), quoted by the Sega daily.

According to the data in the first three quarter of this year the country attracted only EUR 1.105 B in foreign investments. This is by 4.8% lower than in the same period of 2013, which was a record low year.

The BNB analysis shows that the largest share of foreign investments were in the category “other capital” - mostly loans to the Bulgarian branches of foreign companies – around EUR 772 M, or 65%.

This is by EUR 400 M more than in the first three quarters of 2013.

The three countries with largest share of direct investments in Bulgaria for the period January – September 2014 are Austria with EUR 284.2 M, the Netherlands with EUR 282 M and Russia EUR 160.2 M.

Russia, however, is the largest investor in share capital and reinvested profit with EUR 145.5 M.

Bulgaria's real estate sector attracted largest share of foreign investment – a total of EUR 354 M. Next is transport, communications and logistics with EUR 246.3 M and financial brokerage with EUR 159.5 M.