IMF Lowers Bulgaria's Economic Growth Forecast

The International Monetary Fund (IMF) has lowered its forecast for Bulgaria's economic growth in 2014-2015, while expecting zero inflation this year.

In its October's World Economic Outlook report, the IMF forecasts a GDP growth of 1.4% in Bulgaria for 2014 after the "anemic" growth of 0.9% in 2013 as well as accelerating economic growth by 2.0% in 2015, which however is lower than April's forecast for an increase in GDP of 2.5% next year, Bulgaria's National Radio reports.

The Fund maintains its forecast for a 3% increase in Bulgaria's GDP by 2019. The report predicts deterioration of Bulgaria's fiscal balance and a current account deficit of 0.2 percent of GDP this year, expanding the deficit to 2.3% in 2015, and up to a deficit of 3.2% in 2019.