EC Ranks Bulgaria 5th in EU by Growth Forecast

Bulgaria's economy will register a growth of 1.4% in 2012, stated the February Interim Economic Forecast of the European Commission. Brussels's new growth forecast for Bulgaria is 0.9 pp lower than it was in November 2011; it estimates Bulgaria's 2011 GDP growth at 1.8%, after the 0.2% growth in 2010.
 
"In spite of the lowered forecast, the European Commission ranks Bulgaria fifth in the EU by projected 2012 economic growth," the Bulgarian Finance Ministry has reacted in a special statement.
 
He stressed that the EC does not have any expectations that Bulgaria might slip into a recession, and points out that Bulgaria's economic growth is expected to be weaker in the first half of the year, and to grow stronger towards the end of 2012.
 
"We remind that Bulgaria's 2012 budget has been drafted conservatively with a 1% GDP growth projection. According to the EC document, nine EU member states will see negative growth in 2012, one will have zero growth, and 17, including Bulgaria, will have positive growth," said the Bulgarian Finance Ministry.