A country that has huge current account deficit faces a serious problem, State Administration Minister Nikolai Vassilev said.

Vassilev's report to the Council of Ministers offered measures for decreasing the current account deficit.

The country's current account deficit reached 16 per cent in 2006 and is expected to increase to 18 per cent in 2007.

High current account deficit is unusual for most economies, Vassilev said. Each country, which suffers high current account deficit should take urgent measures to decrease it.

The report also includes Bulgaria’s positive economic tendencies like foreign investment growth, GDP growth and high budget surplus.

Vassilev said that his report focuses on some risk factors, which could have serious negative impact on Bulgaria's economy.