Bulgaria's economic growth will not exceed 2.0% this year, a local think-tank said.
Bulgaria's economic recovery, which began in mid- 2010, remains weak, despite a slight pickup in the third quarter of 2011 compared to the like period in 2010, the Centre for Economic Development said in its latest quarterly report.
Economic growth will probably take until the last quarter of 2012 to reach the pre-crisis levels achieved in the third quarter of 2008, according to the report. In case European economy stabilizes at a quicker pace, Bulgaria's GDP may reach its highest pre-crisis level already in the third quarter of 2012.
Foreign trade continues to do surprisingly well against the backdrop of modest economic growth in the eurozone and shrunken domestic consumption in Bulgaria's main trade partners, the report noted.