bulgaria inflation

BULGARIA'S INFLATION TO INCREASE IN 2006

The government could fail maintaining inflation below 4.9 per cent, the figure presented in the national budget, the Agency for Economic Analysis and Forecasting (AEAF) said.

AEAF experts said the inflation level could reach 6.41 per cent by the end of the year.

These higher levels do not pose threat to public finance and budget updates are not necessary for the moment, AEAF managing director Petur Chobanov said.

Higher excise duties for alcohol and tobacco produced the increase in the inflation level, Novinar newspaper reported. The increase in petroleum and sugar prices on the international market also affected Bulgarian inflation.

Compared to the 2005 levels, prices in 2006 will increase by 7.37 per cent. The current account deficit will decrease to 11.3 per cent of the GDP compared to the 11.8 per cent in 2005.

Unemployment will continue decreasing this year, Novinar reported.

Direct foreign investment will also be on the rise. The expected increase is 17 per cent, the AEAF report said. The GDP growth rate will be 5.5 per cent.

Changes in petroleum and electricity prices could affect the prognosis. AEAF analysts said.

2006-08-18 15:58:22

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2006-08-17 07:27:10

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