Bulgarias Academy of Sciences sees 2012 GDP growth at 1.3%.

By bne IntelliNews May 22, 2012
Bulgarias economic growth will slow to 1.3% this year from 1.7% in 2011, the Institute of Economics at the Bulgarian Academy of Sciences (BAS) said in a report. External demand will continue to be the main growth driver. BAS forecast is more optimistic than the estimates of the central banks and the International Monetary Fund (IMF) for a growth of 0.7% and 0.8%, respectively. In its latest report published last week, the EBRD put Bulgarias GDP growth forecast for this year at 1.2%. Economists at BAS expect the countrys economy to expand at a faster annual rate of 2.7% in 2013 and 4.2% in the next year as investments and domestic demand are forecast to start recovering.

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