Bulgarian Economy Hits the Breaks
The economic growth in Bulgaria has slowed down. After the Country’s GDP boasted a y/y hike of 3.8-3.4 percent in two consecutive trimesters, in April-May the GDP has increased with only 1.9 percent, the National Statistical Institute (NSI) reported. It appears that only six months after the national economy showed signs of overcoming the crisis and went upwards now this tendency has slowed down. In the second trimester the GDP upped with only 0.1 percent as compared with the first trimester. This is the worst result since the beginning of 2010, when there were indications that the country coped with the economic downturn. To a great extent the positive trends were explained with shrinking export sales in the first and second trimesters, NSI commented. Set against the same period of the last year, exports keep on growing at a good pace, which is, however, much slower than in the first trimester. This cannon but have a negative effect on the GDP indices.