Bulgaria's economy growth seen at 3% in 2011 - CED

Bulgaria's economy growth seen at 3% in 2011 - CED

Bulgaria's economy is expected to register a 3% growth in 2011, according to estimates of the Centre for Economic Development (CED).

"In the fourth quarter of 2010 we expect economic growth to have accelerated to about 1.5%-2% in annual terms. In 2010, we project overall growth of slightly above 1%. In 2011, growth will continue but it will not exceed 3%, the report said.

The experts also consider that the recovery in the country's manufacturing sector, which started in mid-2010, was still weak, with some of the segments, in particular construction, still continuing to shrink.

Foreign investments also marked a decline last year, but CED expects the trend to revert at the start of 2011.

CED also said it projects Bulgaria's inflation rate this year to make up around 9%. A rebound in employment could be observed in the first or the second quarter of the year, but a notable reduction in unemployment and rise in income could be expected in 2012.

 

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