Bulgaria’s GDP expands 3.5% in 1219

Bulgaria’s GDP expands 3.5% in 1219
GDP by quarter at average 2010 prices
By bne IntelliNews September 7, 2019

Bulgaria’s seasonally adjusted GDP increased at the same pace of 3.5% y/y in the second quarter of 2019 as it did in the previous three months, according to preliminary data released by the statistics office on September 5. Compared to the previous quarter, the economy expanded 1.1%.

The statistics office thus revised the 3.3% annual and 0.6% quarterly growth reported in a flash estimate in August.

In 2017 and 2018, Bulgaria’s GDP increased by a real 3.6% and 3.1%, respectively.

GDP at current prices amounted to BGN25.06bn in April-June, the statistics office said in a statement. In euro terms the GDP amounted to €14.89bn or €2,128 per person.

Final consumption (74.6% of the total in the quarter), increased by .62% y/y in Q2, after going up 4.5% y/y in the previous quarter. The dynamics of gross fixed capital formation were positive at 2.2% y/y, down from 2.5% in the previous quarter. Imports decreased (-2% y/y) and exports moved up (+3.7% y/y) in the second quarter.

International financial institutions (IFIs) projected Bulgaria’s GDP growth above 3% in 2019.