IMF improves Bulgaria's GDP guidance to 3% for 2011

IMF improves Bulgaria's GDP guidance to 3% for 2011

The International Monetary Fund (IMF) has revised up its forecast for Bulgaria's gross domestic product (GDP) to 3% from 2% projected in October 2010.

The IMF gave no specific reason for the revision, saying only that despite risks to the global economy, its recovery from the crisis was gaining momentum.

The country's economy is seen rising by 3.5% next year, meaning however that the growth pace will remain well behind pre-crisis levels of about 6%.

The fund also projects the country's unemployment to be eight per cent this year, slowing down to 6.7% in 2012, while inflation is forecast to come in at 4.8% and 3.7% in 2011 and 2012, respectively.

As to global economy, IMF said it was on the road to recovery despite the risks that emerged in recent months, triggered by the strong growth in developing countries such as China, Brazil and India. /Source: Dnevnik/

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