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Bulgaria's finmin sees country's GDP growth at 4% in 2017, 3.9% in 2018

Bulgaria's finmin sees country's GDP growth at 4% in 2017, 3.9% in 2018 1000 Words/Shutterstock.com

SOFIA (Bulgaria), October 6 (SeeNews) - Bulgaria's finance ministry said it has increased its economic growth forecasts for this year and the next to reflect a rise in domestic demand backed by decreasing unemployment.

Bulgaria's economic growth is expected to reach 4.0% in 2017 and 3.9% in 2018 on the back of rising domestic consumption, the finance ministry said in its Autumn Macroeconomic Forecast published on its website on Thursday.

In April, the ministry projected an economic growth of 2.6% in 2017 and 2.8% in 2018.

Final consumption in Bulgaria for this year is expected to increase by 4.3% this year and by 4.7% in 2018, backed by a rise in households' real disposable incomes and positive developments on the labour market.

In 2016, Bulgarian economy expanded by 3.9%.

Details follow:

  2017 fcast 2018 fcast 2019 fcast 2020 fcast
GDP (real growth in pct) 4.0 3.9 3.9 3.9
Final consumption 4.3 4.7 4.3 4.0
Gross fixed capital formation 3.4 4.3 4.9 5.9
Exports 6.1 5.9 5.9 6.0
Imports 6.5 7.1 6.8 6.9

Source: Ministry of Finance

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