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IMF raises Bulgaria's 2019 GDP fcast to 3.7%

Author Mario Tanev
IMF raises Bulgaria's 2019 GDP fcast to 3.7% ruskpp/

SOFIA (Bulgaria), October 16 (SeeNews) - The International Monetary Fund (IMF) said that it expects Bulgaria's gross domestic product (GDP) to increase by a real 3.7% in 2019, revising its April projection for 3.3% GDP growth in 2019.

Bulgaria's GDP growth is then expected to slow down to a real 3.2% in 2020, the IMF said in the latest edition of its World Economic Outlook (WEO) report.

In April, the IMF said it expects Bulgaria's GDP to expand by a real 3.0% in 2020.

Annual average consumer price inflation is seen slightly slowing down from 2.6% last year to 2.5% in 2019, and 2.3% in 2020.

Unemployment is expected to edge down from 5.3% in 2018 to 4.9% this year and 4.8% in 2020.

Bulgaria’s current account balance calculated as percentage of GDP is projected to fall steadily, but remain positive. The country ended 2018 with a current account surplus of 4.6%, and is expected to post surplus of 3.2% and 2.5% in 2019 and 2020, respectively, according to IMF projections.