Bulgaria Lags in Absorbing EU Funds, Risking Losses and Growing Debt
Bulgaria is falling behind in its utilization of European Union funds
World Bank Raises Growth Forecast for Bulgaria
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The World Bank has raised its forecast for the development of the Bulgarian economy in 2021. Bulgaria's annual GDP is expected to grow by 3.7%. The previous forecast was for growth at the end of 2021 by 2.6%. But the bank emphasizes that the country's return to pre-crisis indicators will take place only in 2022. The expected annual inflation of 3.2% is unchanged.
In the short term, the biggest risk to the country's prospects is the slow rate of vaccination against Covid-19. Despite the expected higher revenues, an annual budget deficit of over 4% of GDP could occur. Another key risk is political instability, the country's analysis says.
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