European Commission Expects GDP Growth in Bulgaria Next Year

European Commission Expects GDP Growth in Bulgaria Next Year

Thanks to its strong fiscal position prior to the crisis, Bulgaria is one of the few EU countries which plan to correct their excessive deficit by 2011, the European Commission said. This will be achieved without substantial increases in the tax burden (except  for the increases in social security contributions and excise tax rates to comply with EU requirements) or cuts in wages and pensions.The budget deficit is expected to improve from 4.7 per cent of GDP in 2009 to 3.8 per cent of GDP in 2010.After the economy's stagnation in 2010, the recovery is set to accelerate and gradually become broad-based in 2011 and 2012, with real GDP growth reaching 2.6% and 3.8%, respectively, underpinned by both external demand as well as a pickup of domestic demand. According to the European Commission, domestic demand keeps dragging economic recovery in 2010.

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.