site.btaNSI Chairman Tsvetarski Does not Exclude Possibility of Hampered GDP Growth after Brexit

NSI Chairman Tsvetarski Does not Exclude Possibility of Hampered GDP Growth after Brexit

Sofia, June 27 (BTA) - If there is political turmoil following the British referendum about leaving the EU, one can not exclude the possibility that GDP growth in Bulgaria could slow down, the Chairman of the National Statistical Institute (NSI), Sergey Tsvetarski, told BTA Monday. He explained, however, that his conclusions are based on his years-long experience in working with numbers.

Bulgaria's economic development is currently going well - the results are promising regarding GDP growth and unemployment levels. Deflation, however, hints of possible future trouble, Tsvetarski said. According to him, there is big chance that some of these processes will not develop favorably, and that would depend on both Bulgaria's and the EU policies following the British referendum's decision.

The NSI Chairman believes that Britain will continue to apply the standards in the field of statistics, but in a different format that is similar to the one currently used by the European Free Trade Association (EFTA) countries with the EU in that field.

Tsvetarski said he absolutely believes that Britain will continue applying the standards, because statistics is a discipline that is not influenced by political organizations and unions. According to him, these standards are good and used by other countries not part of the EU, such as the EFTA Member States - Norway, Iceland, Switzerland and Liechtenstein.

On June 27, the NSI marks the 136 anniversary since the establishment of a statistical institution in Bulgaria.