04.5.2007

Bulgaria's Economic Growth Slowing Down

Bulgaria's economic growth is lagging during the first three months of 2007, the Center for Economic Development (CED) said in a report.

The report will be presented in the country on Friday, according to the state BNR radio.

Industrial growth in Bulgaria is still on the rise, despite the lowered overall values, but the problems in the railways sector remain worrisome. Unlike previous years, the tourist industry seems to be growing at a slower pace, too.

But CED experts believe that the economic growth in the country may speed up in 2008 and 2009, propelled by the EU funds, if they are properly utilised.

Last year the Bulgarian gross domestic product (GDP) grew by 6,1%, a touch slower than the 6,2% recorded in 2005, and well below the 6,5% official target.

In nominal terms, Bulgaria's GDP last year was BGN 49,1 B, or EUR 25,1 B, according to the data by the country's statistics board NSI..

Bulgaria's Economy Minister Rumen Ovcharov will have food for thought following an experts' report that says economic growth is lagging during the first three months of 2007. Photo by Yuliana Nikolova (Sofia Photo Agency)

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