Foreign direct investment in Bulgaria in the first three months of 2017 showed a net outflow of 106 million euro, the equivalent of 0.2 per cent of the gross domestic product (GDP), according to statistics reported by the Bulgarian National Bank (BNB) on May 18. In the same period of 2016, FDI was 217.2 million euro, but the original amount reported by BNB last year was 371.3 million euro, which was revised downward later.
Investment in equity, including in the real estate sector, stood at 9.1 million euro (compared to an outflow of 7.5 million euro in January-March 2016) and re-invested earnings were 18.1 million euro (versus 237.5 million euro a year earlier).
Receipts from real estate investments by foreign companies totalled 1.3 million euro in the first quarter, compared to 8.8 million euro during the same period of 2016.
The central bank data showed 133.3 million euro in investment outflows as debt instruments, recorded as the change in the net liabilities of Bulgarian companies towards their foreign investor owners, compared to an outflow of 12.9million euro in the first three months of 2016.
Such financial flows include financial loans, suppliers’ credits and debt securities, and the negative FDI figure in the first three months of 2017 was largely due to one loan extended by a Bulgarian company to its foreign investor, BNB said.
By country, the largest direct investment in Bulgaria in January-March 2017 came from the Norway (17.8 million euro) and Malta (15 million euro). Notable net outflows were recorded towards Belgium (-75.6 million euro), Austria (-55.5 million euro) and Germany (-51.9 million euro).
According to preliminary figures, Bulgarian investment abroad increased by 17.6 million euro in the first three months of 2017, compared to 12 million euro in the same period of last year, BNB said./ΙΒΝΑ