Bulgaria's current account surplus widened sharply to EUR 537.2 million in February of 2019 from EUR 178.7 million in the same month a year earlier. The primary income account swung to a EUR 10.6 million surplus compared with a deficit of EUR 66.4 million in February 2018 and the secondary income surplus advanced to EUR 427.2 million from EUR 397.3 million while the goods and services deficit narrowed to EUR 21.6 million from EUR 134.5 million a year ago. In the first two months of 2019, the current account surplus increased to EUR 705.2 million from EUR 55.6 million in the corresponding period of 2018. Current Account in Bulgaria averaged -92.13 EUR Million from 1998 until 2019, reaching an all time high of 1200.20 EUR Million in July of 2017 and a record low of -1166.80 EUR Million in December of 2007.
Current Account in Bulgaria is expected to be 300.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Bulgaria to stand at -190.00 in 12 months time. In the long-term, the Bulgaria Current Account is projected to trend around -100.00 EUR Million in 2020, according to our econometric models.