01.08.2011

The current issue brings focus on the recent Bulgarian government ratings one-notch upgrade by Moody\'s on July 22, 2011. In general Moody\'s Baa2 rating reflects the ongoing fiscal discipline and improving institutional strength, as well as the relative resilience of the financial system in a volatile regional environment. Baa2 rating placed Bulgaria on a leading position among the Balkan countries, some countries from the Euro area periphery and other Central EU countries.

Meanwhile short-term indicators of economic activity continued improving - industrial turnover kept increasing at double-digit growth rate, retail sales expanded further and construction output decrease narrowed. The ongoing rally of Bulgarian exports continued. Investment goods exports rose significantly in the last few months, which came to prove that the structure of the total exports is shifting towards higher added value goods. At the meantime imports are improving as well, partly boosted by the exporting sectors and probably indicating recovery in domestic consumption.

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