INFLATION DROPS
Year-on-year inflation in Bulgaria dropped for the first time in 12 months to 14.5 per cent at the end of July, National Statistical Institute (NSI) preliminary data showed on August 12. Monthly inflation was 1.5 per cent in July, boosted by a 4.6 per cent rise in the services sector. The main inflation driver were the utility price hikes on July 1, when electricity prices for households rose by an average of 14.1 per cent, central heating prices went up by 12.9 per cent, and gas prices rose by 5.16 per cent.

GDP GROWTH
Bulgaria’s economy grew by 6.3 per cent year-on-year in the second quarter of 2008, the National Statistics Institute (NSI) said on August 8. The industrial sector growth was around 8.4 per cent, with services increasing by 5.7 per cent and agriculture by two per cent. Household consumption was up by 7.1 per cent. Bulgaria will be expecting an abundant crop, with 4.4 million tons of wheat expected to be harvest.

PREMIUM WHEAT
At least 1.6 million of Bulgaria’s 4.4-million-ton wheat crop harvested this year is of premium quality, said Zlati Zlatev, director of the Government’s grain executive service. Zlatev dismissed earlier reports that as much as 80 per cent of the wheat was only good enough for animal feed and the country would have to import quality wheat. Domestic consumption has fallen over the last couple of years to 850 000 tons.

CEE SLOWS DOWN
Investment in the Central and Eastern European (CEE) region in the first half of 2008 decreased to 5.9 billion euro, a 14 per cent decline from the same period in 2007 and 24 per cent down from the second half of 2007, real estate consultants CB Richard Ellis said. The Bulgarian real estate investment market had a strong first half of 2008, with 20 deals recorded worth 745 million euro – almost 85 per cent of Bulgaria’s total investment volume in 2007 and a growth of 29 percent compared to the first half of 2007, the report said.

BICYCLES AGAINST TOLLS
Cyclists protested in Rousse on August 11 against the road toll of 35 leva that motor vehicles have to pay for crossing the Romanian-Bulgarian border. They rode on bicycles to protest because that is the only form of transport that doesn’t require a toll.