Bulgarian Economy Slowly Recovering

GDP recorded a growth of 0.4 per cent compared to the first quarter of the year, data also say, using estimates of the National Statistical Institute released on Friday.

Latest figures from the EU statistics agency Eurostat have confirmed those of NSI, with GDP in Bulgaria registering a rise of 2.2 per cent compared to the same quarter in 2014 and 0.4 per cent compared to the previous quarter.

Average GDP in the 28 countries of the EU increased by 1.6 per cent compared to the same quarter in 2014, so recent growth in Bulgaria has exceeded the EU average figures.

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In other cheering news for Bulgaria, the unemployment rate fell by just over 50,000, or 1.5 per cent compared to the second quarter of 2014, to a rate of 9.9 per cent.

Some experts in Bulgaria believe the economic crisis in nearby Greece could paradoxically benefit Bulgaria, amid reports that Greek companies are relating to its more stable neighbour.

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