NSI Revises the Growth of the Bulgarian Economy for 2021 with 6 Billion Leva

Business » FINANCE | October 20, 2022, Thursday // 13:54
Bulgaria: NSI Revises the Growth of the Bulgarian Economy for 2021 with 6 Billion Leva @Flickr

The National Statistical Institute (NSI) has revised the data on Bulgaria's gross domestic product for 2021 by as much as six billion BGN. It turns out that the previous data missed this money, and so it turns out that the real economic growth of the country for the past year was more than good 7.6% instead of the already announced 4.2%.

The interesting thing is that the change was not officially announced by NSI with a message on the institute's website, nor with a press release.

It was noticed by "Capital" media when reviewing the new tables with data on the movement of GDP, published on October 19.

It should be noted that data revision, especially for large sets of information, is a normal practice for all statistical agencies around the world, but so far we have not had such a large deviation from the previously presented results. At first, it seems that the error started already with the information for the year 2020, when the collapse of the economy due to COVID was 4%, and not the announced 4.4%.

As for the year 2021, clearly there NSI has seen a bigger change in the movement of domestic consumption, which is growing by more than expected, as well as in exports and investments.

Thus, in the end, it is written in the NSI tables, the GDP for 2021 reaches almost BGN 140 billion. The previous data spoke of a number closer to BGN 134 billion.

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Tags: GDP, NSI, data, Bulgaria
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