Bulgarian FinMin Happy-Go-Lucky about Growth in 2012

Business » FINANCE | October 18, 2011, Tuesday // 20:44
Bulgaria: Bulgarian FinMin Happy-Go-Lucky about Growth in 2012 Bulgarian Minister of Finance Simeon Djankov visited Danube city of Ruse Tuesday. Photo by BGNES

Bulgarian state budget for 2012 will stipulate a 2.8-2.9% GDP growth, stated Minister of Finance Simeon Djankov Tuesday evening.

Bulgarian ruling center-right GERB cabinet has earlier stated it will table the national budget to Parliament after the holding of presidential and municipal elections October 23, with a second round October 30.

This is unusually late for Bulgarian practice, but the government has said that it has already drawn the larger framework for the budget.

Just last week, the cabinet revised its forecast for growth in 2012 from an optimistic 4.2% to 2.5%, with Djankov citing slowdown in Western Europe.

Now the Bulgarian Finance Minister is still vowing a higher figure, saying that the state budget will feature 2.8% or 2.9% growth, reports the Bulgarian National Radio.

Recently Washington, D.C.-based Institute of International Finance released a study estimating 2012 GDP growth in Bulgaria at 2.2%.

End of September the IMF downgraded its own forecast for Bulgarian growth for the present year 2.5% from an earlier 3% estimate, against the Bulgarian government's own 3.6% forecast.

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: Simeon Djankov, state budget, growth, GDP, IMF, slowdown, GERB, elections

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