Bulgaria's GDP Growth to Speed up in 2019 on Fiscal Stimulus

Business » FINANCE | January 10, 2019, Thursday // 13:58| Views: | Comments: 0
Bulgaria: Bulgaria's GDP Growth to Speed up in 2019 on Fiscal Stimulus

Bulgaria's economic growth is expected to speed up from 3.5% last year to 3.9% in 2019 on the back of moderate fiscal stimulus and acceleration of investment activity, Italian financial group UniCredit said on Wednesday, reports SeeNews

"Among the planned measures, the boost in infrastructure spending and the increase in public sector wages are expected to be the most effective in supporting domestic demand in 2019," UniCredit said in a quarterly macroeconomic report on Central and Eastern Europe.

Bulgaria's gross domestic product growth is then expected to slow down to 3.0% in 2020 as a result of the cyclical downturn anticipated in advanced economies and tighter financing conditions.

A sharp drop in export volumes to Turkey was among the major hurdles to Bulgaria's economic expansion in 2018. The forecast acceleration of the Turkish economy in the next few years is expected to limit the decrease in Bulgaria's exports to the country in 2019, before they start increasing in 2020.

As Bulgaria's unemployment rate is projected to drop below 5% this year, job creation is expected to lose some momentum.

 

Finance » Be a reporter: Write and send your article
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
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