December 31 (SeeNews) - Bulgaria's gross domestic product (GDP) is expected to increase by 3.6% in 2022, economic forecasting and modelling company Oxford Economics said.
On a quarterly comparison basis, GDP is expected to shrink by 0.5% in the fourth quarter of 2021 and edge down 0.1% in the first quarter of next year due to the worsening health situation, Oxford Economics said in an economic forecast for Bulgaria published last week.
A strong economic recovery is expected in Bulgaria in the second half of 2022, according to the forecast.
"The formation of a new government brings hope of some much-needed political stability, but the low vaccination rate and the difficult health situation tilt risks to the downside," Oxford Economics said.