26.10.2012

The European Bank for Reconstruction and Development (EBRD) has confirmed its forecast for the growth of Bulgarian economy in 2012 and 2013. Тhis is mentioned in the Bank's October report called "Regional Economic prospects in EBRD countries of operations". The EBRD experts consider that the Bulgarian GDP growth will be 1.2% in 2012 and 1.7% in 2013. The 2012 data concur with the data of the Ministry of Finance while the 2013 data coincide to a high degree, i.e. the MoF growth forecast is 1.9%.

According to the report, our country is the only one in the region of South-eastern Europe whose forecast has not been changed against the previous document from July 2012. The EBRD experts expect that the recovery of Bulgarian economy will continue moderately this year. The Government continues adhering to austerity, thanks to which there is a budget surplus in the first eight months of 2012, say Bank analysts. Resulting from its prudent policy, Bulgaria has placed a successful Euro bond issue with an impressively low interest of 4.25 per cent. The EBRD experts consider that Bulgaria has substantial fiscal and budget cushions that could help sustain any possible future shocks.