site.bta IMF Upgrades Economic Growth Projections for Bulgaria for 2016 and 2017

IMF Upgrades Economic Growth Projections for Bulgaria for  2016 and 2017

Washington, October 5 (BTA) - The International Monetary Fund (IMF) has upgraded its economic growth forecast for Bulgaria to 3 per cent this year and 2.8 per cent in 2017, as shown in the IMF global economic outlook published October 4.

The upgrade for this year has already been announced by IMF mission leader for Bulgaria, Reza Baqir, during a meeting with Prime Minister Boyko Borissov in September.

In April the IMF expected Bulgaria's GDP to increase by 2.3 per cent during the two years.

The revised projections are for deflation of 1.6 per cent of consumer prices this year (against inflation of 0.2 per cent in April) and inflation of 0.6 per cent in 2017 (against 1.2 per cent projected in April).

The IMF has also downgraded its forecast for the level of unemployment to 8.2 oer cent this year (from 8.6 per cent projected in April) and 7.1 per cent in 2017 (from 7.9 per cent in the April forecast).

The organization has left unchanged the global economic growth forecast for 2016 and 1017 to 3.1 per cent and 3.4 per cent respectively.