Bulgarian National Bank Forecasts GDP Drop at 4,4 Percent Rate for 2020

Business » FINANCE | January 19, 2021, Tuesday // 11:14
Bulgaria: Bulgarian National Bank Forecasts GDP Drop at 4,4 Percent Rate for 2020

In its regular quarterly economic review, the Bulgarian National Bank predicts that the country's gross domestic product will register a decrease of 4.4 percent for 2020.

In the previous forecast in September, the expected fall in GDP was 5.5%.

Bulgaria’s Central Bank experts stress that there is considerable uncertainty about the forecast, even in the short term, because of the persistent spread of the coronavirus and the uncertain situation for lifting the restrictions.

BNB expects the prices of energy and non-energy products in dollars and euro to rise significantly in 2021.

Economic activity will grow by 3.7% in 2021 and by 3.6% in 2022, reaching the annual pre-pandemic level in 2022, the central bank expects.

The return to GDP growth rates in 2021 should result from an increase in net exports, fixed capital investment and private consumption.

Annual inflation for 2020 is 0.3%, vs. 3.1% at the end of 2019.




We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Bulgaria, BNB, forecast, economy
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria