Foreign direct investment in Bulgaria in the first three months of the year recorded an outflow of 254.4 million euro, the equivalent of 0.4 per cent of the gross domestic product (GDP), statistics from the Bulgarian National Bank (BNB) showed on May 20.
In the first quarter of 2018, FDI recorded an outflow of 52.6 million euro, but the BNB originally reported an inflow of 179.1 million euro, which was revised downward later.
Investment in equity, including in the real estate sector, showed an outflow of 562.8 million euro (compared to an outflow of 184.5 million euro in the first three months of 2018) and re-invested earnings recorded an outflow of 72.5 million euro (versus an inflow of 65.2 million euro a year earlier).
Receipts from real estate investments by foreign companies totalled 2.2 million euro, compared to 7.1 million euro during the same period of 2018.
The central bank data showed 380.9 million euro in investment inflows, recorded as the change in the net liabilities of Bulgarian companies towards their foreign investor owners, compared to 66.7 million euro recorded in Q1 2018. Such financial flows include financial loans, suppliers’ credits and debt securities, BNB said.
By country, the largest direct investment in Bulgaria in January-March came from the Netherlands (174.3 million euro), Ireland (70 million euro) and the United Kingdom (52.2 million euro).
According to preliminary figures, Bulgarian investment abroad rose by 82.8 million euro in the first quarter of this year, compared to an increase of 14.8 million euro in the same period of 2018, BNB said./ibna