EC Improves Forecast for Bulgaria's Economic Growth in 2016, 2017Bulgaria in EU | November 9, 2016, Wednesday // 21:01| views
In its autumn report, the European Commission (EC) forecast better than expected economic growth against the background of continuing reduction of unemployment in Bulgaria in 2016 and 2017.
The EC also expects Bulgaria’s state debt to hit its peak in 2016 and to begin to decrease in the medium term.
According to the EC, Bulgaria’s real GDP has increased by 3.6% for 2015, while a certain reduction of growth is expected to 3.1% for 2016, 2.9% for 2017 and 2.8% for 2018.
This, however, is an ascending revision of the spring forecast of the Commission made in May, according to which Bulgaria’s GDP was expected to grow by a mere 2.0% in 2016 and by 2.4% in 2017.
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