Bulgaria's GDP Rises 1.6% in 2011 - Flash Estimate

Bulgaria's GDP Rises 1.6% in 2011 - Flash Estimate

Bulgaria's gross domestic product (GDP) in 2011 rose by 1.6% to 76.17 billion levs ($51.3 billion/38.9 billion euro) in nominal terms, a flash estimate of the country's statistics office indicated on Wednesday.

Seasonally-adjusted figures from the National Statistics Office (NSI) showed that in the fourth quarter of last year Bulgaria's GDP inched up by 0.4% after, according to revised data, it increased by the same rate in the third quarter.

In annual terms, the country's economy in the fourth quarter expanded by a seasonally-adjusted 1.5% after rising by a revised 1.6% in the previous quarter.

In nominal terms, GDP totalled 20.447 billion levs in the September - December period, NSI said providing no comparative figures.

In 2010 Bulgaria's economy expanded by a real 0.2%, compared to a revised decline of 5.5% in 2009.

The government in Sofia has projected real economic growth of 3.6% in 2011. It expects the country's economy to grow by between 3.6% and 4.4% annually in the 2012 - 2014 period.

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