site.btaEBRD Downgrades 2014 Economic Growth Forecast for Bulgaria

EBRD Downgrades 2014 Economic Growth Forecast for Bulgaria

Sofia, September 18 (BTA) - The European Bank for Reconstruction
and Development (EBRD) downgraded its forecast for Bulgaria to
1.5 from 1.9 per cent of its GDP, Bulgarian National Radio said
on Thursday.

The 0.4 percentage point difference from the bank's May forecast
is mainly due to the negative impact of political insecurity
and turmoil in the financial sector.

However, the report said the longer term impact of the financial
sector turmoil was likely to be limited by prompt action by the
authorities, including the stated intention to opt into
EuropeТs Single Supervisory Mechanism for the banking system.

The projected GDP growth for Bulgaria in 2015 is 2 per cent, the
bank's report says.