EC Raises Its Expectations for Bulgaria's Economy
The European Commission (EC) raises its forecast for the development of Bulgaria's economy in 2014 and 2015.
In its winter economic forecast, published on Tuesday, the EC expects Bulgaria's GDP to grow by 1.7% and by 2% in 2015. The autumn forecast provided for 1.5% in 2014 and 1.8% in 2015.
According to the EC, however, Bulgaria's recovery will be slower, compared to other similar economies, because of the continuing and considerable decrease of the population.
The Commission said that the growth will be moderate and will be mostly driven by exports and the rebounding consumer confidence, which will result in increased internal demand.
The recovery of private investments will be gradual because of the moderate increase in economic activity.
The Commission forecasts 12.7% unemployment rate in 2014 and 12.1% in 2015.
Inflation is expected to remain low.
- » Conservators at Bulgaria’s Corpbank Submit Audit Report
- » Finance Ministry Reopens 10.5-Year Issue of BGN-Denominated Govt Securities
- » Employment Agency Director Decries Inefficiency of Job Schemes
- » Kozloduy NPP Completes Planned Annual Overhaul of Unit 6
- » Tsvetan Vasilev: BNB Not Willing to Discuss Options to Restructure Corpbank
- » Bulgaria's Varna Registers Higher Revenues, Fewer Tourists in Summer 2014