World Bank revises upwards GDP growth forecast for Bulgaria

The World Bank revised upwards its GDP growth forecast for Bulgaria to 3.2% in 2017 up from 2.9% projected in Nov 2016, the latest Global Economic Prospects report showed. The forecast for 2018 was kept unchanged at 3.1% and the WB projected growth to remain flat at 3.1% in 2019. The estimate for GDP growth in 2016 was lifted to 3.5%. In 2017, GDP growth will be supported by increased absorption of EU funds supporting capital investments and a revival of private consumption, the WB explained. The WB forecast is more optimistic from the IMF and EC forecasts that project little under 3% GDP growth this year. The government forecast is for 2.5-2.7% GDP in 2017-2018.

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