Fin Min Expects 1.0-1.5% GDP Growth in 2013

Fin Min Expects 1.0-1.5% GDP Growth in 2013

The newly appointed caretaker finance minister, Kalin Hristov, said he expects the country's economy to expand by 1.0-1.5% this year.

Hristov specified that this is a provisional forecast based on the assumption that the euro zone, which is Bulgaria's main trade partner, will start to recover in the second quarter of the year, local business news portal Dnevnik.bg reported.

"From today's viewpoint to the euro zone's development and developments in Bulgaria, I think that growth [of 1.0%-1.5%] is realistic and can be achieved," Kalin Hristov said.

In February, the European Commission forecast economic growth of 1.4% of GDP for Bulgaria this year. The country's 2013 budget sets economic growth at 1.9%.

Prior to his appointment as a caretaker finance minister on Wednesday, Kalin Hristov served as vice-governor of the country's central bank.

 

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