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Jun 07, 2023 13:46 EEST
June 7 (SeeNews) - Bulgaria's real economy is expected to grow by 1.5% this year, the World Bank said, cutting 0.2 percentage points off its projection made in January.
Bulgaria's gross domestic product (GDP) is seen to grow by 2.8% in real terms in 2024, the global lender said in its June 2023 Global Economic Prospects report on Tuesday, lowering its January foreecast for 3.3% growth.
The country's economy is then seen to expand to 3.0% in 2025, partly due to expectations of increased funding disbursed from the EU's recovery and resilience mechanism over the next 24 months.
Growth projections for the lender's Central European subregion, which includes Bulgaria, Hungary, Poland and Romania, stayed flat at 1.1% for 2023. The World Bank lifted by 0.2 pp to 2.9% its GDP growth forecast for the region in 2024. It expects growth to accelerate to 3.3% in 2025.
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