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SOFIA (Bulgaria), November 19 (SeeNews) - Bulgaria’s economic growth will decelerate to 2.5% in 2020, Raiffeisenbank Bulgaria said on Tuesday, taking into account data published recently by the National Statistical Institute (NSI).
"The data confirms that the Bulgarian economy will reach its peak in 2019 and it will gradually begin to slow down in the next two years. Despite that our forecast is for moderate real GDP growth of about 2.5% in 2020," Raiffeisenbank Bulgaria said in a statement.
According to flash data published by NSI last week, Bulgaria's economy expanded by 3.7% year-on-year in the third quarter of 2019, after growing by 3.8% in the previous quarter.
At the end of September, Raiffeisenbank Bulgaria said that Raiffeisen Research has increased its forecast for Bulgaria’s economic growth to 3.5% in 2019, from 3.0% projected previously. Economic growth in 2019 will mostly be supported by the strong expansion by 4.2% in the first half of the year, the lender said at the time.