Bulgaria’s GDP to Grow by 1.0% in 2012 - Think-Tank

Bulgaria’s GDP to Grow by 1.0% in 2012 - Think-Tank

Bulgaria's economy will expand by 1.0% in 2012 on the back of strong domestic demand in the second half of the year, the local Center for Economic Development said in a regular report.

"Only three out of all ten sectors that we are following in Bulgaria's economy are expected to see a decline in their end-year figures. The recorded growth however will be too modest to help accelerate the economy," Georgi Prohaski, head of the Center for Economic Development, said, as quoted by the Sofia News Agency (Novinite.com).

The country's jobless rate is seen reaching 12% at the end of the year, according to the report.

Bulgaria's gross domestic product (GDP) is expected to expand by 1.5% in 2013 as exports recover, the think-tank forecasts.

Bulgaria's economy expanded by 1.7% in 2011.

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