Bulgaria's Economy Sees Minimal Growth in 2012

Bulgaria's economy grew by 0.8% in 2012, according to data released by the country's National Statistical Institute on Wednesday.

The growth is far below the government forecast for a 1.4% increase last year.

The Balkan country's GDP remained unchanged in the fourth quarter compared to the July-September period. The Institute's preliminary estimate was for a 0.1% quarter-on-quarter growth in the last three months of the year.

On an annual basis, GDP growth stood at 0.5 percent in the fourth quarter compared to the same period in 2011, continuing a gradual downward progression since the first quarter, the Institute said.

The country's GDP had expanded quarter-on-quarter by 0.1 percent in the third quarter and by 0.4 percent in the second quarter after remaining unchanged in the January-March period.

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