Euler Hermes maintains Bulgaria's 2021 GDP growth forecast at 3.5%

Euler Hermes maintains Bulgaria's 2021 GDP growth forecast at 3.5%

Bulgaria's gross domestic product (GDP) is expected to increase by 3.5% in 2021, France-based credit insurance company Euler Hermes said on Monday, keeping its April forecast unchanged.

Bulgaria's economy is expected to expand by 3.8% next year, Euler Hermes said in a statement, maintaining its April projection for next year, too.

The country's GDP increased by 9.9% on an annual comparison basis in the second quarter of 2021, following a 1.8% year-on-year decrease in the previous quarter, the National Statistical Institute (NSI) said earlier this month.

According to Euler Hermes, economic uncertainty is linked to factors such as the disruption of supply chains. The recovery of supply chains will not happen until 2023, the credit insurance company said.

"Additional economic unrest is expected with the gradual or complete termination of state policies for support of businesses and people during the COVID-19 crisis," Euler Hermes noted.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.