Bulgaria’s Economy to Grow by 1.1% in 2015 – World Bank

Business » FINANCE | January 14, 2015, Wednesday // 20:06
Bulgaria: Bulgaria’s Economy to Grow by 1.1% in 2015 – World Bank Infographic by worldbank.org

The World Bank has substantially lowered its 2015 economic growth forecast for Bulgaria.

According to World Bank Group’s Global Economic Prospects (GEP) report, released Wednesday, Bulgaria’s economy will expand by 1.1% in 2015, down from the 2.4% GDP growth predicted in June.

Meanwhile, Bulgaria’s Finance Ministry anticipates GDP growth of 0.8% in 2015, while the European Commission expects Bulgaria’s economy to expand by 0.6% in 2015, according to reports of dnevnik.bg.

The International Monetary Fund and the European Bank for Reconstruction and Development expect Bulgaria to register GDP growth of 2% in 2015.

The World Bank is more optimistic about Bulgaria’s economy in 2016 and 2017, with growth forecasts of 2% and 2.7%, respectively.

The World Bank has also downsized its forecast about the global economy in 2015 from a rate of 3.4% in June to 3%.

The global economy is to grow by 3.3% in 2016 and 3.2% in 2017.

The eurozone economy is projected to expand by 1.1% in 2015.

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Tags: World Bank, economic growth, GDP growth, Global Economic Prospects
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