Bulgaria: Economic Outlook Deteriorates

BusinessEconomy ♦ Published: October 11, 2013; 06:23 ♦ (Vindobona)

According to the IMF, Bulgaria´s growth rate will be lower than initially expected.

Bulgaria: Economic Outlook Deteriorates / Picture: © Vindobona.org

The IMF has cut the growth forecast for 2013. In spring, the IMF projected a growth rate of 1.2%. Now, the expected GDP growth only comes at 0.5%.

This is mainly due to the difficult frame conditions in Southeastern Europe, and the weakening consumption. Moreover, Bulgaria strongly depends on foreign direct investments. Due to the political crisis, investor confidence has…