Bulgarian economy continues to expand
17 December 2008
The Bulgarian National Statistical Institute has published figures indicating further economic growth in the country.
Official data showed that during the first nine months of the year, the economy saw year-on-year expansion of seven per cent.
However, growth in the country's gross domestic product was found to have slowed down slightly in the third quarter of the year.
The rate of increase dropped to 6.8 per cent, down from 7.1 per cent in the previous quarter of 2008.
This slight reduction has prompted economic officials to forecast a significantly lower rate of growth next year.
Estimates from the International Monetary Fund (IMF) suggest that the Bulgarian economy will avoid a recession in 2009, although annual growth will slow down to about two per cent.
The IMF commented: "The world economy is slowing and this will have two effects on Bulgaria: lower foreign demand and a drop in capital inflows."
Official data showed that during the first nine months of the year, the economy saw year-on-year expansion of seven per cent.
However, growth in the country's gross domestic product was found to have slowed down slightly in the third quarter of the year.
The rate of increase dropped to 6.8 per cent, down from 7.1 per cent in the previous quarter of 2008.
This slight reduction has prompted economic officials to forecast a significantly lower rate of growth next year.
Estimates from the International Monetary Fund (IMF) suggest that the Bulgarian economy will avoid a recession in 2009, although annual growth will slow down to about two per cent.
The IMF commented: "The world economy is slowing and this will have two effects on Bulgaria: lower foreign demand and a drop in capital inflows."
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