Autumn Economic Forecasts and Why They Differ So Widely
Monday, 24 October 2016
The GDP growth rate in Bulgaria this year will be 2.6 percent, the Ministry of Finance says. The prestigious credit rating agency Moody’s gives a better forecast – 2.7 percent. But it is the International Monetary Fund that is most generous, saying that the Bulgarian economy will grow at the rate of an enviable 3 percent this year. These differences, measured in tenths of one percent, may not seem significant but when these figures concern a GDP of over 45 billion euro, even one hundredth of one percent makes a difference because it means a lot of money. Nonetheless, all three autumn forecasts have one thing in common – they are better than the spring forecasts.