Bulgaria sees 2 % GDP growth in second quarter of 2011, experts claim

Bulgaria sees 2 % GDP growth in second quarter of 2011, experts claim

The growth of the Bulgarian economy for the second quarter of 2011 is some 2 % on a yearly basis, the regular three-month report of the Center of Economic Development shows. Bulgarian economy is definitely moving to a state of growth but it is still feeble and unequal.

Economic experts expect a certain acceleration of the total economic growth on a yearly basis in the third quarter of 2011. The GDP growth for 2011 will reach 2.5 to 3 %. The invigoration of the global economy lies at the heart of the ongoing dynamic development of Bulgaria's foreign trade. Exports during the first 5 months of the year amount to 8 billion euro, an increase of 47.2 % compared to the same period in 2010.

Imports increase at a slower rate of 25.6 % and have reached 8.9 billion euro. The EU is still the main market for the Bulgarian economy, accounting for 60.7 % of the total exports. Bulgaria's major commercial partners are Germany, Italy, Romania and Greece. The first 5 months of the year have seen a flow of resources outside the country instead of increasing foreign investments (27 million euro, or 0.1.% of the GDP have been exported). The inflation rate in 2011 will not exceed last year's inflation of 4.5 % in case fuel prices remain relatively stable. According to the experts from the Center of Economic Development, unemployment will reach 9.5 % by the end of the year. (Source: BNR)

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.