Ernst & Young Foresees Modest Growth of Bulgarian Economy in 2015-2016

Ernst & Young Foresees Modest Growth of Bulgarian Economy in 2015-2016

In its latest report, which was presented on Thursday, Ernst & Young foresees a modest growth of the Bulgarian economy for this and next year. According to the analysts, the good results from the second quarter will not be sustained due to the shrinking internal consumption, daily Dnevnik reports. In the second quarter, the final consumption in Bulgaria recorded a decrease of 0.6 % compared to the previous quarter, while investments increased by only 0.4 %. The good results of the country's GDP in the first quarter were due to exports, which continued to grow even after the peak of 8.3 % in the last quarter of 2014. Ernst & Young foresees an average yearly growth of 3.4 % for 2017-2019, which will be determined by factors such as more stable rise of exports, increased demand on the internal market and unfavourable demographic trends.

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