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Bulgarian economy to expand by 4% in 2018 - brokerage

Bulgarian economy to expand by 4% in 2018 - brokerage antpkr/Shutterstock.com

SOFIA (Bulgaria), July 11 (SeeNews) - Bulgaria's gross domestic product (GDP) is expected to grow by 4% in 2018, as the economic environment continues to improve, local brokerage firm Elana Trading said.

"However, the threats facing the European economies which arise from the tariffs [war between the U.S. and China] and the Brexit process should not be overlooked as they will affect investment activity in Bulgaria and the Bulgarian companies' export potential," Elana Trading said in a half-year forecasts report.

The construction sector will increase its contribution to economic expansion alongside lending growth. Inflation will slow down in the second half of the year as the effect of higher utility costs wears off.

Labour cost will grow at a high pace supporting the real economic growth in the country.

In 2017, Bulgaria's economy expanded by 3.6%.

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