Bulgaria’s economy grew by 0.6 per cent in the first quarter of the year, according to preliminary data announced by the National Statistical Institute (NSI) on June 6. The figure was in line with last month’s NSI flash estimate.
Compared to the same period of 2024, Bulgaria’s economy grew by 3.1 per cent in the first quarter, matching the figure in the NSI flash estimate.
In real terms, gross domestic product (GDP) in January-March was 45.62 billion leva, or 23.32 billion euro, NSI said.
NSI’s seasonally-adjusted preliminary data showed domestic consumption rose by 2.3 per cent during the first quarter, and was 7.2 per cent higher on an annual basis. Gross fixed capital formation shrank by 2.2 per cent in January-March, but it was nine per cent up compared to the first quarter of 2024.
Exports in the first quarter were 2.4 per cent lower, while imports rose by 0.3 per cent, with the trade balance showing a deficit of 837.3 million leva, or 1.8 per cent of GDP. Compared to the first quarter of last year, exports were down 3.2 per cent and imports were 4.6 per cent higher.
Bulgaria’s growth target for 2025 is 2.8 per cent, while the European Commission projected two per cent growth for Bulgaria’s economy this year, in the spring forecast issued last month.
Source: https://sofiaglobe.com/
