Bulgaria records 0.8% economic growth in 2012

Bulgaria’s economy grew by 0.8 per cent last year, the country’s National Statistics Institute (NSI) said on March 6. In real terms, gross domestic product (GDP) in 2012 was 77.6 billion leva, or 39.6 billion euro.

According to preliminary data, consumption was up by 1.8 per cent and gross fixed capital formation was up 0.8 per cent, the first time the indicator grew on annual base since the onset of the global economic crisis.

Bulgaria also saw its trade gap widen to about 2.87 billion leva; in 2011, Bulgaria almost eliminated the trade imbalance, posting a deficit of only 17 million leva. Nevertheless, it was significantly lower than the deficits recorded during the boom years – in 2008, before the recession struck, Bulgaria’s trade deficit hit a record 14.2 billion leva.

Economic growth in the fourth quarter was flat compared to the previous quarter, but 0.5 per cent higher compared to the same period of 2011, NSI data showed.

In real terms GDP in the fourth quarter was 21.1 billion leva or 10.8 billion euro.

(Photo: Sanja Gjenero)



The Sofia Globe staff

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