Bulgaria's Q1 GDP Stays Flat Q/Q, Up 0.5% Y/Y

Bulgaria's Q1 GDP Stays Flat Q/Q, Up 0.5% Y/Y

Bulgaria's gross domestic product (GDP) remained unchanged on the quarter and expanded by 0.5% on the year in the three months through March, a seasonally-adjusted flash estimate of the country's statistics office indicated.

In the last quarter of 2011, the country's economy expanded by 0.3% from the previous three months and grew by 1.6% year-on-year, according to seasonally-adjusted preliminary data.

In nominal terms, GDP totalled 15.66 billion levs ($10.3 billion/8.0 billion euro) in the January-March 2012 period, The National Statistics Office (NSI) said in a statement on Tuesday, providing no comparative figures.

Last year Bulgaria's economy expanded by a real 1.7% compared to a revised increase of 0.4% in 2010.

The government in Sofia projected real economic growth of 2.3% in the 2012 state budget. It expects the country's economy to grow by between 2.5% and 4.0% annually in the 2013 - 2015 period.

NSI started publishing seasonally-adjusted quarterly GDP data in September 2010 in order to provide a better base for macroeconomic analyses.

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