According to Thursday updated forecasts of the European Bank for Reconstruction and Development (EBRD) for the economic development of the regions in which it operates, Bulgaria's economy will grow by 2.2% in 2024 and by 2.9% in 2025.
Compared to the May forecast, the outlook for Bulgaria is lowered by 0.4% in 2024 and by 0.1% in 2025. Nonetheless, the economy will still accelerate compared to the 1.8% rate recorded in 2023, according to EBRD estimates.
Expectations for the whole SEE region have also been revised downwards - growth is currently expected to slow from 2% in 2023 to 1.9% in 2024 (-0.9% adjustment) before accelerating to 2.6% in 2025 (-0.5% adjustment). The downward trend for 2024 is due to weak industrial production and weaker demand for outsourcing services, according to the report.
The EBRD also revised down slightly its overall forecast for the regions in which it invests. It expects a rate of 2.8% for 2024, or down 0.2% from the May forecast, and an acceleration to 3.5% for 2025, or 0.1% below the rate assumed in the report released in May.
/YV/
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