IMF Lifts Bulgaria 2017 GDP Growth Projection to 2.9%
Wednesday, 19 April 2017
The International Monetary Fund (IMF) on Tuesday increased its 2017 economic growth forecast for Bulgaria to 2.9%, from 2.8% projected in October.
The growth of Bulgaria's gross domestic product growth is expected to slow down to 2.7% in 2018, the IMF said in the April edition of its World Economic Outlook (WEO) report.
Bulgaria’s GDP grew by 3.4% in 2016, according to the report.
Bulgaria’s current account balance calculated as percent of GDP is projected at positive 2.3% in 2017 and 2.0% in 2018. In the October 2016 edition of its WEO report, the IMF predicted a positive current account balance of 2.8% for Bulgaria in 2017.
Consumer prices in Bulgaria are expected to increase by an annual average of 1.0% in 2017 and 1.8% next year. In October, the IMF said it expected the country's consumer prices to rise 0.6% this year.
Bulgaria's unemployment rate is expected to drop to 7.1% in 2017 and 6.9% next year, from 7.7% at the end of 2016, according to the IMF.