This report covers the key macroeconomic and financial releases for Bulgaria for the period since August 13, 2015. Real GDP growth quickened to 2.2% y/y in the second quarter from 2% y/y in the previous three months, confirming a flash estimate released on August 14. Bulgaria's total business climate indicator rose by 1.3 points m/m in August, after decreasing by 1.8 points m/m in July. On the other hand, the industrial production expanded 3.4% y/y in July, easing from 5.8% a month earlier. Annual retail sales growth (at constant prices) decelerated to 0.1% in July from 2.7% in June. The construction output in the country resumed decline in July, shrinking by 0.2% y/y. Key points: • The CPI stayed flat y/y in August, following a 0.2% y/y contraction in July • Bulgaria's consolidated budget surplus was BGN601mn (€307mn) at end-August, equal to 0.7% of the projected 2015 GDP, the finance ministry said in a preliminary estimate • The current account balance was a surplus of €324mn in H1, reversing a deficit of €156.6mn in the same period last year