The IMF Halved its Expectations for the Growth of the Bulgarian Economy in 2023
Bulgaria's economy will grow by 1.4 percent this year, after 3.4 percent growth in 2022. This is stated in the spring forecast of the International Monetary Fund, whose managing director is Kristalina Georgieva. From there, they expect inflation in our country to decrease to 7.5 percent in 2023 after the growth of 13% on an average harmonized basis for 2022.
For 2024, the organization headed by Georgieva expects our economy to grow by 3.5 percent and inflation to slow down to 2.2%.
The previous assessment given by the IMF for the economy of Bulgaria was from October last year. At the time, the Fund indicated that they expected Bulgaria's GDP to grow by 3% in 2023, and inflation was expected to decrease to 5.2 percent. According to the data, unemployment was forecast to be 4.7%.
Last week, the World Bank predicted a slowdown in Bulgaria's economic growth to 1.5%, and our inflation to 8.7% this year. Then again, the Ministry of Finance in our country presented its Macroeconomic forecast, where GDP growth of 1.8% for the current year and an inflation rate of 5.6% at the end of the year are predicted.
In terms of unemployment, the IMF predicts that the indicator will rise this year by 0.3 percentage points compared to last year and reach 4.6 percent, before falling again in 2024 to 4.4 percent.
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