EU Commission Affirms Bulgaria's 2019, 2020 GDP Growth Forecasts

EU Commission Affirms Bulgaria's 2019, 2020 GDP Growth Forecasts

The European Commission said on Tuesday that it has affirmed its May forecasts for Bulgaria's economic growth in 2019 and 2020 at 3.3% and 3.4%, respectively."Due to the weakening external environment, Bulgaria’s economy is expected to expand at a slower pace in the second half of this year and then maintain a similar growth rate throughout 2020," the Commission said in the Summer 2019 European Economic Forecast report. In May, the EU's executive body lowered its forecast for Bulgaria's 2019 economic growth to 3.3% from 3.6% predicted in February. Sound profits, accommodative financing conditions and optimistic expectations about the domestic economy are set to stimulate investment activity, the Commission said.

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