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Economic activity in Bulgaria remained sluggish throughout most of 2014; weak GDP growth is likely to continue in 2015, driven mainly by household consumption and net exports. Some acceleration of economic activity might be expected over the period 2016-2017 on account of improving external conditions. The newly elected government that lacks strong political backing faces the challenge of implementing an ambitious reform agenda in a weak economic environment.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||7306||7265||7260||.||.||.|
|GDP, real change in %||0.5||1.1||1.7||1.5||1.9||2.3|
|GDP per capita (EUR at PPP)||12400||12300||12700||.||.||.|
|Gross industrial production, real change in %||-0.4||-0.1||1.8||.||.||.|
|Unemployment rate - LFS, in %, average||12.3||13.0||11.4||11.0||10.5||9.5|
|Average gross monthly wages, EUR||374||396||423||.||.||.|
|Consumer prices, % p.a.||2.4||0.4||-1.6||0.0||1.0||1.5|
|Fiscal balance in % of GDP||-0.7||-0.9||-2.8||.||.||.|
|Public debt in % of GDP||18.0||18.3||27.6||.||.||.|
|Current account in % of GDP||-0.3||1.9||0.9||1.2||0.7||-0.4|
|FDI inflow, EUR mn||1383||1509||1526||.||.||.|
|Gross external debt in % of GDP||92.1||90.0||94.7||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
BULGARIA: New government’s reform ambitions to face reality check
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 49-51 Details and Buy
Monthly Report No. 7-8/2014
Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures Details