European Commission Edges Down Forecast for Bulgaria's Economic Development in 2018
Thursday, 08 February 2018
The European Commission Wednesday published its winter 2018 economic forecast where it edged down Bulgaria's expected real GDP growth for 2018 to 3.7%, and for 2019, to 3.5%, from previous estimates of 3.8% and 3.6% respectively.
The EC notes that BulgariaТs economic growth remains strong. Real GDP growth in 2017 is estimated at 3.8%, driven by both consumption and investment. Higher consumption was fuelled mostly by strong wage increases linked to tighter labour market conditions and to public sector wage increases. Investment recovered, especially in the public sector, as the implementation of EU-backed investment programmes supported government capital expenditure.
BTA