EBRD Revises Bulgaria Growth Expectations

Bulgaria’s real gross domestic product (GDP) is expected to grow by 4.5% this year and by 4.0% in 2022, stronger than previously expected, the European Bank for Reconstruction and Development (EBRD) announced. The main upside risks to the outlook are a stronger rebound of consumption amid high wage growth and a swifter recovery in investments and goods exports.

“On the downside, the slow vaccination rollout could damage the tourism season this summer, and the current political difficulties could delay public investments and absorption of EU funds through the Recovery and Resilience Facility,” the EBRD added.