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external debt

IME
Economy

Bulgarian External (dis)Balances Before and After the Crisis

Desislava Nikolova/August 29, 2012August 29, 2012 /Leave a comment

Right from the start of the Great Recession the current account deficit shrunk with 62% in 2009, got to the relatively low level of 376 million euro in 2010 (around 1% of GDP) and turned into surplus of 361 million euro (close to 1% of GDP) in 2011. By doing so, all experts, who continuously scared the people with this “huge current account deficit”, which we were suppose to believe was extremely dangerous for our…

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