In 2019 Bulgaria’s gross domestic product will grow with 3.7%, up from 3.1% in 2018, the Bulgarian National Bank forecasts in its economic review about the second trimester of 2019.

In its economic analysis about the first quarter of 2019 BNB was forecasting that the increase of the country’s GDP will be similar to last year’s growth, but later it revised upwards its forecast due to higher employment, increased wages, low-interest rates on bank loans, which will continue to support private consumption.

The higher investment activity and government spending will also support local demand, the Bulgarian National Bank further notes, BNR reported.