Bulgaria's GDP Will Grow in 2017 Despite Political Crisis - Industry Group

Politics » DOMESTIC | December 5, 2016, Monday // 10:42
Bulgaria: Bulgaria's GDP Will Grow in 2017 Despite Political Crisis - Industry Group File photo, BGNES

The Bulgarian economy will expand in 2017 and post an increase in sales despite the tense political environment, the head of an employers' association has said.

Political instability, however, will "decelerate inertia gathered by businesses," Vasil Velev, the head of the Bulgarian Industrial Capital Association (BICA), has told the Bulgarian National Radio.

Obstacles notwithstanding, GPD is expected to go up by 3-4%, most of the value added coming from increased sales which will also be used to boost staff salaries.

Lending and investment will slightly be on the rise throughout 2017, he has added.

Bulgaria's outgoing government has projected growth for next year at 2.5%, slightly down from this year's estimated 3%.

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Tags: BICA, Vasil Velev, GDP
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