World Bank Cuts Bulgaria's 2013 GDP Growth Forecast to 1.2%

Business | June 13, 2013, Thursday // 11:44

The World Bank has reduced its GDP growth forecast for Bulgaria for 2013 and 2014.

According to the latest edition of the Global Economic Prospects report, Bulgaria's GDP is to grow by 1.2% in 2013, not by 1.8%, as initially predicted.

In 2014, Bulgaria's GDP is to increase by 2.1%, instead of 2.4%, reaching a 3% growth in 2015, according to the World Bank.

According to the report, Bulgaria reported a 3% growth in industrial production in Q1, 2013.

The report also informs that Bulgaria registered a modest year-over-year increase in real credit in February, at 0.5%.

Global GDP is expected to expand by about 2.2% in 2013 and strengthen to 3% and 3.3% in 2014 and 2015.

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