Bulgaria's Economy Slightly Outperforms Initial Growth Forecasts

Business » FINANCE | June 7, 2024, Friday // 14:26
Bulgaria: Bulgaria's Economy Slightly Outperforms Initial Growth Forecasts

In the first quarter of 2024, Bulgaria's GDP grew by 1.8% compared to the same period in 2023, slightly surpassing the initial forecast of 1.7%, according to data from the National Statistical Institute. The GDP produced amounted to BGN 43.279 billion, or BGN 6722 per person.

Final consumption accounted for 80.6% of GDP, while investments, or gross formation in fixed capital, constituted 14.2%. The foreign trade balance of goods and services was positive. Growth was driven by a 3.4% increase in final consumption and a 7.9% rise in gross fixed capital formation. However, exports of goods and services decreased by 2.1%, and imports dropped by 3.7%.

The Treasury's spring forecast projected an annual growth of 3.2% for 2024.

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, GDP, spending

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