IMF cuts Bulgaria's 2024 GDP growth f'cast to 2.7%

Bulgaria's economic growth is then forecast to speed up to 2.9% in 2025, the global financial institution said in the April 2024 edition of its World Economic Outlook (WEO) report on Tuesday.

The country's gross domestic product (GDP) rose by a real 1.8% in 2023, according to preliminary data from the statistical office. It was slightly above the 1.7% growth rate forecast by the IMF in October.

Consumer price inflation in the country is projected to slow to 3.4% in 2024 from 8.6% last year and further decelerate to 2.7% in 2025, the IMF said.

Additionally, the financial institution sees Bulgaria's unemployment rate inching down by an annual 0.1 percentage point to 4.3% this year before falling to 4.2% in 2025.

Last month, the IMF said Bulgaria needs fiscal and structural reforms to support sustainable expansion, address investment and social priorities, strengthen governance and accelerate the green transition.