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

BULGARIA
Economic activity in Bulgaria was anaemic in 2013, for the second year in a row, curbed by weak domestic and external demand. The signs of a possible upturn that are observable at present in the main reflect the shift towards a more proactive policy stance undertaken by the current government. In particular, the government envisages a sustained rise in public capital expenditure as well as support to low-income earners. However, these impulses are relatively modest and will take time to feed into the economy. In the absence of a more notable upturn in export demand, economic growth is expected to remain moderate in 2014 and the following years.