SOFIA (Bulgaria), October 5 (SeeNews) – Bulgaria’s finance ministry said on Friday that it expects the country’s gross domestic product (GDP) to expand by a real 3.6% this year, down from its March forecast of GDP growth of 3.9%, due to lower-than-projected exports.
The ministry also lowered its projections for Bulgaria’s economic expansion to 3.7% next year and 3.5% in both 2020 and 2021, the finance ministry said in its 2018 Autumn Macroeconomic Forecast.
In the spring edition of its forecast, published in March, the ministry said it expects a 3.8% rise in GDP in 2019, followed by increases of 3.7% in both 2020 and 2021.
Domestic demand is expected to remain among the major contributors to GDP growth in 2018, the ministry noted in the autumn edition of the forecast. Stronger public investment is expected to bump up GDP growth in 2019, together with public consumption.