- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Bulgarian Economy Q4 2021
STRONG CONSUMER AND BUSINESS ACTIVITY PULLED Q4 GDP UP BY 5.6% YOY; GLOBAL ENERGY PRICE PRESSURES DROVE INFLATION TO POST-CRISIS HIGHS The economy kept expanding, achieving growth rate of 5.6% YoY in Q4 as private consumption continued to drive GDP growth, while suppressed investments and negative net exports weighed on the expansionary pace.
HICP index marked 6.6% YoY lift-off in the 2021 year-end, while 12-month average inflation stood at 2.8%.
Budget deficit increased 10.7% YoY and stood at BGN 3.9bn (2.9% of GDP).
Surpassing imports growth over exports brought accumulated trade deficit to 6.4% of GDP.
Current account gap widened to BGN 1.4bn, reaching 2.0% of GDP.
Labour market conditions improved with unemployment rate decreasing to 4.5%.
The government debt stood at EUR 16.6bn (24.5% of GDPe) in the end of Q4’21.
First Financial Brokerage House (FFBH) is a leading non-banking financial institution on the Bulgarian capital market. Founded in 1991, FFBH offers the complete spectrum of investment banking services spanning corporate finance, privatisation advisory, mergers and acquisitions, financial consulting, brokerage services, research & analysis and asset management.
FFBH provides its services mainly to major international banks and corporations seeking investment in Bulgaria. FFBH is not only local contractor and partner to its clients but also an information source and provider for all major news and events in the economic and political life of the country.
We are the main contact point for the large majority of foreign and local institutional investors in the Bulgarian equity market. FFBH is providing access to the Bulgarian Stock Exchange by either its highly experienced sales trading desk or by order routing across the Bloomberg network.
Additionally, FFBH is offering a range of tools, specifically tailored for the retail investor. Both domestic and international markets are only a click away, via electronic trading solutions. As a major advantage, our customers are able to benefit from the broad range of Analysis & Research products with premium quality, provided by our team of dedicated analysts.
Clients of our research products are most of the largest foreign and local institutional investors looking for opportunities in Bulgaria. More than 100 investment banks, investment funds and other institutional investors use our Equity research and Economic review on a regular basis. FFBH’s Morning Bulletin and Weekly Bulletin reach more than 300 clients over different countries and continents.
Our major Research and Analysis Services include:
- Semi-Annual Outlook of the Bulgarian economy and the domestic capital markets;
- Equity analyses of the biggest and/or most liquid companies listed on Bulgarian Stock Exchange - Sofia;
- Quarterly Bulgarian Real Estate sector and REITs overview;
- Quarterly Bulgarian Banking System overview;
- Quarterly macroeconomic overeview, with details on the major economic sectors, commentaries, and statistical indicators;
- Daily and Weekly bulletins, including an overview of the capital markets and the most important macroeconomic & corporate events.
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