Bulgaria's GDP to rise by 3.7% in 2021, 3.6% in 2022 - c-bank

Bulgaria's GDP to rise by 3.7% in 2021, 3.6% in 2022 - c-bank

Bulgaria's gross domestic product is expected to rise by 3.7% this year followed by a 3.6% increase in 2022, the country's central bank said.

GDP growth in 2021 is expected to be backed by exports, fixed capital investment and private consumption, the central bank said in a quarterly forecast, published on Monday.

Bulgaria's economy is expected to reach its pre-pandemic level in 2022, supported by private consumption and fixed capital investment, the central bank added.

The country's GDP contracted by 4.4% in 2020, according to the central bank.

Bulgaria's HICP inflation is expected to speed up from 0.3% in 2020 to 2% this year, before slowing down to 0.9% in 2022. The inflation forecast reflects the central bank's assumptions about the international market price developments of oil and food, which are key to the local inflation rate.

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