At the end of February, Bulgaria's gross external debt (private and public) amounted to EUR 41.909 billion, which is 7.5% (EUR 2.916 billion) more than a year earlier. Thus, it represents 55.8% of the country's projected gross domestic product (GDP) for this year, according to preliminary data from the Bulgarian National Bank (BNB). Central bank experts estimate that short-term liabilities amounted to EUR 7.024 billion (16.8% of gross external debt) at the end of February and have increased by 19.5% (EUR 1.144 billion) compared to the end of February 2021. The long-term liabilities amounted to EUR 34.885 billion (83.2% of gross external debt), an increase of 5.4% (EUR 1.772 billion) compared to the previous year. As of 28 February, EUR 26.239 billion (62.6%) of gross external debt had a residual maturity of over one year. About 81.9% of gross external debt was denominated in euros compared to 84.5% a year earlier.

The growth of prices in the production and distribution of electricity and heat and gas in March increased the overall producer price index, which increased by 36.1% on an annual basis. This is shown by the current data of the National Statistical Institute (NSI). In February, the increase was 32.3% on an annual basis, in January - by 32.6%, in December - 30.8%, in November the annual increase reached 31%, which was a record since 2001 when these statistics had begun. Statistics show that a new record was set last month in the growth of producer prices, while in February there was a slight slowdown. The general producer price index in March increased by 4.3% compared to February. An increase was registered in the manufacturing by 6%, in the mining and quarrying industry by 4.8%, and in the production and distribution of electricity, heat and gas by 1.1%. Higher prices in the manufacturing industry were observed in: manufacture of fabricated metal products, except machinery and equipment - by 8%, manufacture of food products - by 6%, and in manufacture of chemicals - by 5.7%.

Swedish medical devices contract manufacturer SHL Healthcare said that it has chosen Bulgaria's capital Sofia as the location to establish its first production facility in Europe. The factory site, with an area of about 5,000 square metres, has already been fully acquired by the manufacturer and will be managed by its local subsidiary. The move aims to enable the Scandinavian medical technology firm to scale up its production for global clients as well as achieve production and logistical flexibility. "Our plan is to kick off with production for non-medical products in 2022 while working in parallel to ramp up for medical products starting end of 2022 and to further accelerate in 2023. It’s vital we take time to properly plan and implement all relevant quality systems and certifications," Patrik Axelsson, interim general manager of SHL Healthcare Bulgaria, said. Based in the Stockholm region, SHL Healthcare manufactures products such as medical patient slings, pressure ulcer prevention mattresses, pumps and patient-handling goods for hospitals, care homes and home use. The company, set up in 1989 and employing some 4,800 staff, already has a manufacturing facility in China.

The state-owned company Bulgargaz has received 7 offers from 3 gas suppliers, the state-owned company said in a statement to the media, explaining how it provides the necessary quantities of natural gas after the suspension of Russian supplies to Bulgaria. Bulgargaz has announced a tender for delivery of quantities to replace the suspended deliveries, by sending inquiries to 12 traders on the market in Bulgaria and neighboring countries. Some of the invited companies informed that they were not able to submit proposals, and the selection criterion was the lowest price. Last week, Bulgargaz announced that contracts with gas companies will be signed. On May 4, based on these contracts, Bulgargaz will calculate the price it will ask the regulator to approve, and the decision of the EWRC will be taken on May 10. In order to provide additional quantities in April 2022, Bulgargaz is making deals to purchase quantities on the organized stock market in the country.

The Varna store, where the Mr. Bricolage chain has been operating for over 15 years will be bought in a few days by the company from the same sector - Gospodinovi Stroymarket. Although in a similar segment, the new owner says he has no plans to part with the chain and open a site. The change of ownership was announced by the seller - the stock exchange Real Estate Fund Bulgaria, back in February. It has been known since then that according to the preliminary contract, the price of the property is EUR 6.8 million without VAT. But then the buyer remained unknown. Practically the CPC is not considering the deal, because the object of the purchase has a turnover of less than BGN 3 million and does not need a permit. Although it has annual revenues of BGN 75 million, the buyer is not nationally known and represented. The reason is that most of the turnover is with construction materials. The previous owner, the real estate special purpose fund Bulgaria, bought the Doverie-Bricolage shopping center in August 2006 for EUR 4 million.

Kozloduy NPP earned BGN 10 million a day in the first quarter of this year. Or a total of BGN 954 million for the period. For comparison - at the same time last year the profit was BGN 137.7 million, or almost seven times less. This is, in short, the effect of high stock market electricity prices in recent months. A year ago, the average stock exchange level was around BGN 100 per mWh, while in March 2022 it reached BGN 500 per mWh. As fuel and maintenance costs have not really changed (as in the case of gas-fired power plants), the NPP's profit margin has reached an impressive 65% (compared to 36% a year ago). In the first quarter of 2021, the revenues from the sale of electricity were BGN 382 million, and now they are BGN 1.47 billion. As a result, the available funds at Kozloduy NPP as of March 31 were almost BGN 2.1 billion. And this provided that the state withdrew an extraordinary dividend from the headquarters several times in order to secure funds to pay compensation to the business. In the same way, much of the current profit will be withdrawn to return to business customers who buy electricity from the stock exchange.

Steel radiator manufacturer Korado Bulgaria, part of Czech Republic-based Korado Group, said that its net profit rose 58% year-on-year in the first quarter of 2022, to BGN 1.8 million. Korado Bulgaria's revenue jumped by 54% on the year in the January-March period of 2022, to BGN 17.5 million. Sales edged up 2% year-on-year to BGN 142.6 million in the review period The growth in sales was made possible by the fact that most of the company's production went to the markets of Central and Western Europe. There was a significant amount of sales to Romania and Hungary, while sales to Ukraine stopped with the onset of the war. Due to very turbulent geopolitical development, it is very difficult to forecast results for the months to come. There is a visible slowdown in orders that may impact the company's financial results in the second quarter of 2022 but from a medium and long-term perspective, an upward trend could be expected. Korado's financial statement also showed that its expenses grew to BGN 15.7 million in the first quarter of this year from BGN 10.2 million in the same quarter of 2021, mainly due to higher expenses for materials.

In April this year, the flows from the liquefied natural gas terminals in the European gas transmission system were the highest for the month since 2011. This is shown by data from Gas Infrastructure Europe (GIE). The liquefied natural gas from the terminals in the transmission system of Europe last month was 10.65 billion cubic meters. This is more than the previous record of 10.21 billion cubic meters in April 2019. The reserves of liquefied natural gas in the EU are now 10% higher than in 2021 and 8% higher than the average for the last five years. Thus, the record for liquefied natural gas supplies in April is the third monthly record in 2022 - the previous ones were achieved in March and January (being the highest of all time). Gas flows from liquefied natural gas terminals in February were the second highest for the month. Since the beginning of this year, the total volume of liquefied natural gas revenues from the terminals in the gas transmission system of Europe is about 41.6 billion cubic meters.

Amazon announced its first loss since 2015 as sales slowed, costs rose and its investment in electric vehicle company Rivian wiped out profits. The tech giant’s revenues grew at a sluggish 7% in the first quarter to $116.4bn, Amazon’s slowest growth rate in nearly two decades. For the same quarter last year, Amazon’s sales increased 44% to $108.5bn. It lost $3.8bn for the quarter compared with a profit of $8.1bn during the same period a year ago. The company warned there may be more losses ahead. For the current quarter, Amazon expects operating income between a loss of $1bn and a gain of $3bn, compared with $7.7bn in second quarter of 2021. Amazon’s stake in electric vehicle company Rivian was largely to blame for the loss. Amazon owns close to 20% of the company and lost $7.6bn after shares in the electric vehicle collapsed, falling by more than 50%.

Production activity in China has fallen to its lowest level since February 2020, official data on Saturday showed, the latest sign of an economic downturn after Beijing persistently pursued its zero response against Covid. The official Purchasing Managers' Index (PMI), a key indicator of manufacturing activity, reached 47.4 in April. This is below the 50-point mark separating growth from contraction. Authorities acknowledged that the "decline in production and demand" has deepened. The data came at a time when Beijing's policy of rapidly eliminating infections by blocking and mass testing has been severely undermined by the resurgence of the pandemic through the Omicron strain. Dozens of cities, including economic centers such as Shenzhen and Shanghai, have been completely or partially closed in recent months. The inflexible approach, even as most of the world learns to live with the virus, has caused growing economic damage.