Bulgaria's current account surplus drops to 0.2 pct in first five months of 2017

SOFIA, July 18 (Reuters) - Bulgaria posted a current account deficit of 0.2 percent of gross domestic product in the first five months of 2017 compared with a surplus of 0.3 percent in the same period a year earlier, central bank data showed on Tuesday.

The surplus stood at 79.1 million euros ($91.19 million) in January-May, mainly due to a drop in exports, compared with a surplus of 131.2 million in the 2016 period, data showed.

For May alone, the current account surplus was 210.6 million euros, compared with a deficit of 5.7 million in May 2016.

Foreign direct investment, much needed to spur sustainable growth in the Balkan country, dropped to 119.8 million euros through May from 525.7 million in January-May of 2016.

Sofia expects a current account surplus of 3.8 percent of GDP this year compared with a revised surplus of 4.2 percent in 2016, betting mainly on increasing exports and tourism revenues. ($1 = 0.8675 euros) (Reporting by Angel Krasimirov; Editing by Louise Ireland)