Bulgaria Cuts 2019 Economic Growth View to 3.4 %

Bulgaria Cuts 2019 Economic Growth View to 3.4 %

Bulgaria has cut its 2019 economic growth forecast to 3.4 percent from 3.7 percent with domestic demand expected to grow at a moderate pace, the finance ministry said on Thursday, reports Reuters. 
In its spring macroeconomic forecast, the ministry said it expected the Balkan country’s economy to grow 3.3 percent next year.
“Slower growth is associated with the deterioration in consumer confidence in the second half of 2018, which is a precondition for a predictable and modest increase in household spending in 2019,” the ministry said in a statement.
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