WIIW The Vienna Institute for International Economic Studies - Wiener Institut für Internationale Wirtschaftsvergleiche

GDP in Bulgaria grew only marginally in 2012, failing to produce a noticeable mark on the weak economic trajectory of the latest years. A short-lived recovery in private consumption during spring and summer could not be sustained and the deteriorating external environment in the closing months of the year brought renewed concerns of a possible new downturn. The policy stance seems frozen in expectation of the general elections in mid-2013. There is little chance of change in this constellation in the short run, at least until the elections, and the economic growth is likely to remain unimpressive.