Bulgaria's GDP Growth To Pick Up To 2.0% In 2014 - EBRD
The European Bank for Reconstruction and Development (EBRD) said on Wednesday it expects Bulgaria's economic growth to slightly pick up in 2014 to around 2.0%, driven by continual improvement of exports and some recovery in domestic private consumption.
Bulgaria's export performance improved in 2013 but weak internal demand and minimal credit growth are holding back domestic consumption and investment, EBRD said in its Regional Economic Prospects report.
The country's economy grew modestly at just under 1.0% in 2013, the international lender said.
According to EBRD, Bulgaria’s fiscal position remains strong.
"The combination of subdued domestic demand and a series of electricity tariff cuts has led to a negative inflation rate in recent months," it noted.