Country Economic Forecasts - Bulgaria
The latest national accounts data confirm that the domestic economy remained on a firm footing in Q2, although external headwinds dampened the overall pace of growth. A robust 0.8% q/q rise in Q2 GDP was driven, as expected, by a sharp upswing in household spending, while investment and government spending showed comparatively soft growth. But a 1.3% q/q contraction in exports due to slowing external demand dampened growth. With improved domestic conditions but a weaker external outlook, we still forecast overall GDP growth of 3.6% this year, followed by 3.5% in 2019.
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