EU Accession

Romania and Bulgaria will continue to be attractive targets for foreign investors in spite of the fact that both countries have expensive assets due to the reduction of the political risks after the EU accession, according to an analysis issued by the daily “The Telegraph”. Analysts believe that Romania might be confronted with difficulties because of the current account deficit about 10 percent of the GDP, even if the economy is growing at an accelerated pace, Nine O'Clock reports.

Romanian companies enter the EU market showing optimism, with managers expecting increased turnovers, new investments and new products in 2007, ACT Media news agency reports.
Stanca Cismaru, general manager with cosmetics producer Gerocossen, told the Bursa daily on Wednesday he was optimistic about the stability of his company's products on the relevant market, as it is about a wide range of products made from the highest quality natural ingredients.

The Bulgarian National Bank (BNB) has poured EUR 3.561 mln into the capital of the European Central Bank (ECB), BNB officials informed yesterday.
This money accounts for 7% of BNB's gross share in the ECB. The BNB has become part of the European System of Central Banks (ESCB) with Bulgaria's EU membership. According to the Statutes of the ESCB and ECB, each central bank should pour 7% of its share upon its EU accession. The remaining 93% will be transferred at the introduction of the common European currency, which is expected to happen in Bulgaria in 2010 at the earliest. The whole share of the BNB in the capital of the ECB is EUR 50 833 mln, which represents 0.8833% of the gross capital of the ECB.