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Scientists Predict Growth in the Bulgarian Economy in the Coming Years

Politics » DOMESTIC | May 28, 2018, Monday // 13:46

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Bulgaria: Scientists Predict Growth in the Bulgarian Economy in the Coming Years

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By the end of 2020, according to estimates by the Institute for Economic Research at the Bulgarian Academy of Sciences, the growth rate of Bulgaria's GDP will remain 3-3.5 per cent, which is close to our potential growth. This is good growth, but it is insufficient for the purposes of catching up with other EU countries standards. This is a comment at a press conference at BTA by Assoc. Prof. Viktor Yotsov at the presentation of the Annual Report on the Economic Development and Policies in Bulgaria to the Institute.

Prof. Dr. Alexander Tasev, director of the Institute, noted that even 3-4 percent growth for Bulgaria is insufficient to get closer to European standards.

Assoc. Prof. Dr. Viktor Yotsov commented that inflation is not expected to increase due to the fact that the economy is going to "overheat". Increasing the rate of absorption of EU funds is among the other predictions of the scientist. No serious changes in the tax system are expected.

Yotsov announced that a successful completion of the Bulgarian presidency of the Council of the EU is expected. According to him, there will be no political turmoil, and it is not expected this year will be any kind of early elections that always have an impact on the budget and macroeconomic indicators.

Scientists from the Bulgarian Academy of Sciences expect a gradual rise in the global and European economies.

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