Funds returned to parent companies abroad exceed the amount of borrowed loans

For the first time since 2000, last year the funds returned by Bulgarian undertakings to parent companies abroad exceeded the amount of the borrowed loans. Last year, the amount of the received funds was €3.160 bn, while the disbursed loans of Bulgarian companies reached €3.270 bn, i.e. the latter were €110 mln higher that the remitted resources. This data was provided by the CEO of the Bulgarian Investment Agency, Borislav Stefanov in an interview for Klassa daily.

In 2006, there was a difference of €2 bn in favor of the funds transferred by foreign companies. Precisely the payment of inter-company loans was the main reason for the negative growth in the volume of direct foreign investments in the first quarter of 2011. At that time, the Bulgarian National Bank's statistics reported an inflow of foreign capital of overall BGN 87.3 mln. 

Over the next three quarters, however, the trend for repayment of loans to foreign companies slowed down and enterprises, which had partly disbursed hundreds of millions of euros, withdrew new smaller loans, indicated also Stefanov. "In my opinion, this is a good sign because it shows that companies in Bulgaria are already financially stable and can afford to pay their loans without being negatively affected. For the statistics, however, this is unfavourable because it is registered as a decreasing investment rate," commented he.

According to the BNB preliminary data, Bulgaria attracted overall €1.06 bn throughout the entire 2011. For comparison, in 2010 our country received investments worth €1.78 bn, which means that there was an annual decline of nearly 59%.

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