IMF raises Bulgaria's 2021 GDP forecast to 4.4%

IMF raises Bulgaria's 2021 GDP forecast to 4.4%

The International Monetary Fund (IMF) said on Tuesday that it expects Bulgaria's gross domestic product (GDP) to rise by 4.4% in 2021, revising its October 2020 forecast for 4.1% growth.

Bulgaria's economy is then seen growing by 4.4% in 2022, the IMF said in its latest World Economic Outlook (WEO) report.

Consumer price inflation is expected to slow down from 1.2% in 2020 to 1% this year, before picking up to 2% in 2022.

Bulgaria's unemployment rate is forecast to steadily decrease from 5.2% last year to 4.8% in 2021 and 4.4% in 2022.

Bulgaria’s current account balance calculated as percentage of GDP is projected to grow from 0.1% in 2020 to 1.4% this year, before slightly falling to 1.2% in 2022.

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