Brussels Upbeat Economic Forecast Cheers Bulgaria

Brussels Upbeat Economic Forecast Cheers Bulgaria

The European Commission has expressed optimism about the potential of Bulgaria's economy to rebound as officials figures confirmed that the eurozone economy grew by 1% between April and June.

"Bulgaria does not threaten the stability of the European economy and the European Commission is upbeat about its recovery," Amadeu Altafaj, spokesman of the European Union Economic and Monetary Affairs Commissioner Olli Rehn, told the Bulgarian National Radio on Thursday.

The statement followed the release of official figures, which showed eurozone economy grew by 1% between April and June.

The initial estimate was published last month, showing stronger growth than expected, largely due to strong exports that were boosted by a weaker euro.

"Bulgaria's economy is making up for lost time. The economic indices have not yet marked an increase in comparison with last year, but there is certainly an improvement over the previous quarter," Altafaj commented.

"Bulgaria still has a lot to do to catch up with the other economies, but this will depend to a large extent on external demand. Generally we remain optimistic about Bulgaria," he stressed.

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