IMF Sees Bulgaria's GDP Growth at 0.9% in 2014, 1.6% in 2015

IMF Sees Bulgaria's GDP Growth at 0.9% in 2014, 1.6% in 2015

The International Monetary Fund (IMF) said on Tuesday it expects that Bulgaria's economic growth will speed up from 0.9% this year to 1.6% in 2015.

Although stronger growth in the euro area is expected to lift activity in most emerging and developing Europe, the region as a whole will see slightly weaker growth than it did in 2013, the IMF said in the April edition of its semiannual World Economic Outlook.

Core inflation has been decreasing in Bulgaria, reflecting a sill negative output gap, depressed domestic demand, weak bank credit, and negative external price developments, it added. Bulgaria is expected to turn to deflation of 0.4% next year, after reporting inflation of 0.4% in 2014, it added.

The country is expected to post a current account surplus of 1.5% of gross domestic product (GDP) in 2014, to then turn to a deficit of 2.1% of GDP next year.

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