IMF: Well-Performing Economy in Bulgaria, Growth to Reach 3.8%
The IMF finds the Bulgarian economy to be performing well with growth estimated to reach 3.8 percent in 2017 and 2018, driven by strong exports, easier financial conditions, and growing confidence. It says so in a report follows the conclusion on February 14 by the IMF Executive Board of Article IV consultation with Bulgaria.
Bulgaria's current account remained in surplus in 2017 despite rapid wage growth, the IMF says. The economy shows signs of a closing output gap. Inflation turned positive in 2017 and inflationary pressure is rising. The unemployment rate has declined to 5.8 percent, the lowest level since the global financial crisis.
Fiscal outcomes have been stronger than budgeted in recent years - a surplus of 0.8 percent of GDP is estimated for 2017 - reflecting mainly revenue overperformance and under-execution of capital spending.