Bulgaria's GDP To Grow by More Than 6% in The Next Three Years

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Bulgaria's GDP To Grow by More Than 6% in The Next Three Years

Bugaria's gross domestic product is expected to grow by more than 6% in the next three years (2009 – 2011), according to prognoses published on the website of the country's Council of Ministers.

The real GDP growth next year is expected to be at 6.5 %, and the prognoses for the following two years are for 6.9% and 6.4% respectively

Foreign direct investments this year are estimated to reach 6.2 billion euros, versus 6.1 billion euros in 2007. The combined amount of FDI in the next three years is expected to reach 19.6 bln euros (6.3 bln euros, 6.5 bln euros and 6.8 bln euros respectively ).

Inflation is expected to stand at 4% annually in 2009 – 2011. The average BGN/USD exchange rate for the period is expected to rise from 1.21 leva/USD in 2009 to 1.35 leva/USD in 2010 and 1.45 leva/USD in 2011.

Pensions will be increased by around 14.3% in 2009, while salaries in the public sector will be growing by an annual of 10%. The minimum monthly wage will rise from 220 leva to 240 leva, according to the draft budget for 2009.

Macroeconomic indicators 2009 Prognosis2010 Prognosis 2011 prognosis
GDP (in million BGN )722308027288044
Real growth %6,50%6,90%6,40%
Harmonized inflation   
As at the end of the year 4,20%4,40%4,10%
Average for the period 5,10%4,30%4,10%
BGN/USD Exchange rate    
As at the end of the year 1,31,41,5
Average for the period 1,211,351,45
Current account (in million BGN)-7737,9-8214,8-8856,2
% of GDP-21,00%-20,00%-19,70%
Foreign Direct Investments (in million EUR)6315,76503,76776,4
% of GDP 17,10%15,80%15,10%

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