UniCredit sets positive outlook for Bulgarian economy in 2013.

By bne IntelliNews September 25, 2012
Bulgaria's economic growth is seen gaining pace in 2013 as financial markets tensions subside and international investors regain confidence, according to UniCredit Bulbank's latest quarterly analysis. The forecast of the economists on Bulgaria's economic prospects is rather optimistic. Sound EU funds absorption should contribute around 5% to fixed capital formation in 2013. Individual consumption, boosted by minimum wage and pensions increase, will also trigger economic growth to 1.5% in 2013 from 0.5% this year. Consumer inflation is projected at a level of 2.7% on average next year, up from 2.5% expected in 2012. CPI will be pushed up by recovering domestic demand, rather than food and energy price hikes, according to the economists of UniCredit Bulbank. The bank does not see significant risks for the fiscal targets this year and estimates the government's plans to raise wages and pensions and at the same time keep a conservative budget deficit as feasible.

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