EC: BULGARIA WILL BE THE EU MEMBER STATE WITH 5TH LOWEST BUDGET DEFICIT
10.11.2011
The European Commission projects a real growth of 2.2% and 2.3% of GDP in 2012 of Bulgarian economy for 2011 in its regular economic forecasts for EU Member States. The Commission has thoroughly revised downwards its growth forecasts for EU Member States.
The 2013 forecast of the Commission for Bulgaria reaches 3% real growth. In the following two years the Commission ranks Bulgaria 5th with regard to the growth rate, while for 2012 Estonia is the only euro area country that has a projected growth (3.2%) higher than that of Bulgaria.
In 2012 Bulgaria will be the EU Member State with 5th lowest budget deficit and one of the six Member States enjoying a deficit below 3% of GDP. The Commission forecasts Bulgarian deficit to reach 1.7% of GDP at a budget deficit of 1.3% planned in the 2012 draft budget.
The Commission projects a slow growth for the euro area of just 0.5% and 0.6% for EU27. The forecast for the euro area for this year is 1.5% real growth and 1.6% average growth for EU27.