Bulgaria's GDP to Grow 1% in 2012 - EconMin
Bulgaria's gross domestic product is expected to mark a total growth of around 1% for 2012, according to Minister of Economy and Energy Delyan Dobrev.
"This GDP growth rate is unsatisfactory for us, but it's still something," commented Dobrev in an interview for the Bulgarian National Radio Sunday.
In contrast, Bulgaria's state budget for 2012 optimistically forcasted a yearly GDP growth of 2.9%.
Sunday, Dobrev pinned the slow growth on Bulgaria's failure to significantly increase its exports, something he explained with the lingering eurozone crisis.
"72% of Bulgarian goods go to eurozone countries and only 28% to third parties," said the minister.
Dobrev argued that Bulgaria must steep up efforts to expand trade with markets outside the EU, especially in East Asia, and in particular China.
- » Bulgaria Reopens 3-Y T-Note Issue at 0.68% Yield
- » Bulgaria Keen on Keeping Good Economic Ties with Russia, Lukarski Says
- » Bulgarian Scientists Foresee Economic Growth of 1.4 % in 2015
- » Additional BGN 15 M Needed for Sofia's Subway Extension
- » Explosion-Stricken Unit of Bulgaria’s VMZ Sopot Military Plant to Start Functioning in a Week
- » Bulgaria Speeds Up Construction of Maritsa Motorway Lot 2 ahead of EU Commissioner’s Visit