Bulgarian Macroeconomic prospects for 2013

The Bulgarian economy will grow by 1.9% year-on-year in 2013, the European Bank for Reconstruction and Development predicts. The 1.9% forecast represents an increase in the institution’s expectations as compared to the 1.7% GDP growth outlook for 2012.

The EBRD emphasizes that the fiscal position of Bulgaria remains stable and that our country has a low budget deficit. Attributable to the successful Eurobond issues released last year, Bulgaria has substantial cash buffers to withstand future shocks, the bank said.

Yet, with the 1.9% forecast, the EBRD expects Bulgarian GDP growth to remain modest because of slower export growth and problems in the Eurozone.

While the World Bank’s outlook for Bulgaria in 2013 is a 1.8% GDP increase, the IMF accounts a 1.5% growth. The European Commission on its part expects an improvement of 1.4%.

Source: Standart News