EU Commission Foresees Modest Growth for Bulgarian Economy in 2015

EU Commission Foresees Modest Growth for Bulgarian Economy in 2015

The European Commission foresees a modest growth of 0.8 % for the Bulgarian economy in 2015 and a further 1 % growth in 2016.
This became evident from the Commission’s Winter Economic Forecast, which was released on Thursday.
According to it, Bulgaria registered an economic growth of 1.4 % in 2014, which is an increase of 0.2 % compared to an earlier estimate.
The forecast for 2015 looks bright on the European Union (EU) level, as the economies of all member states are expected to grow for the first time since 2007.
Economic activity in the EU is expected to register moderate growth in 2015, before it accelerates further in 2016.
In 2015 economic growth should increase with 1.7 % for the EU as a whole and 1.3 % for the Eurozone.
This trend is set to continue in 2016, when a growth of 2.1 % for the EU and 1.9 % for the Eurozone is expected.
The drop in oil prices, the increased domestic and foreign demand and the announcement of the European Investment Plan are all to have a positive impact on the economic growth.

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