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Bulgaria projects GDP to plunge to 2.1pct in 2016
(MENAFN) Progress in Bulgaria's GDP is forecasted to decline to 2.1 percent throughout the current year as opposed to last year's 3 percent growth, based on recent data.
In accordance, reports revealed that the estimated private investment growth this year would not be adequate to compensate for the lower volume of government investment.
Imports of goods and services are also projected to decrease in 2016 and restore its rate of real growth in 2017 along with gradually accelerating domestic demand.
In 2017, overall investment is expected to rise due to both continuing growth in private investment and increased government investment, and GDP would grow by 2.8pct y-o-y.
In accordance, reports revealed that the estimated private investment growth this year would not be adequate to compensate for the lower volume of government investment.
Imports of goods and services are also projected to decrease in 2016 and restore its rate of real growth in 2017 along with gradually accelerating domestic demand.
In 2017, overall investment is expected to rise due to both continuing growth in private investment and increased government investment, and GDP would grow by 2.8pct y-o-y.
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