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2007-05-16 20:58:51

>> Bulgaria >> Bulgaria economy >> bulgaria growth


Bulgaria's economic growth rate was expected to exceed the 5.3 per cent given as prediction in the beginning of the year, a study of The Centre for Economic Development (CED) shows.
According to the report the services sector stood behind the economic development. Industry and construction on the other hand registered a slowdown, Bulgarian news agency BTA reported.
Unemployment levels were going down, while Bulgaria's investment income was on the rise for a third consecutive three-month period in a row, the report said.
The current account deficit reached 7.3 per cent of the GDP for the period from January to May 2006. It represents 73 per cent of the deficit for the previous year.
According to the report direct foreign investment could cover only half of Bulgaria's trade deficit.
From the beginning of the year till June prices went up by 2.9 per cent and the levels are expected to remain unchanged over the summer.
The report concludes that the financial sector remains stable though some negative trends were observed. Cabinet had to take measures to limit the growing credit expansion of commercial banks which played a negative role for the country's economic stability.
2006-08-18 15:23:38
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2006-08-17 07:27:10


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