Bulgarian Govt Sees GDP Rising 2.5% - 4.0% Annually in 2013 - 2015

Bulgarian Govt Sees GDP Rising 2.5% - 4.0% Annually in 2013 - 2015

The Bulgarian government said it expects the country's economy to grow by between 2.5% and 4.0% annually in the 2013 - 2015 period.

Bulgaria targets to bring down its budget deficit from the equivalent of 1.3% of the country's gross domestic product (GDP) in 2013 to 0.5% of GDP in 2014, before achieving a balanced budget in 2015, the government said in its 2012-2015 convergence programme adopted on Wednesday.

This year's state budget sets the budget gap at 1.56 billion levs ($1.05 billion/752 million euro), or 1.3% of the projected GDP, and projects economic growth of 2.3%.

Bulgaria ended 2011 with a budget gap of 2.1% of GDP, according to finance ministry data. The country's economy grew by 1.7% last year, central bank data indicated.

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