IMF projects 2.3% economic growth in Bulgaria in 2024, rising to 2.5% in 2025
The International Monetary Fund (IMF) projects GDP growth in Bulgaria of 2.3 per cent in 2024, rising to 2.5 per cent in 2025, according to the Fund’s World Economic Outlook report for October 2024.
These projections are lower than in the IMF’s April 2024 report, which foresaw 2.7 per cent in 2024 and 2.9 per cent in 2025.
The October report sees annual inflation in Bulgaria coming in at 2.8 per cent in 2024 and 2.6 per cent in 2025.
This is a change from the April report, which foresaw figures of 2.9 per cent in 2024 and 2.3 per cent in 2025.
The IMF said in its October report that global growth is expected to remain stable yet underwhelming.
“However, notable revisions have taken place beneath the surface since April 2024, with upgrades to the forecast for the United States offsetting downgrades to those for other advanced economies, in particular, the largest European countries,” the IMF said.
Likewise, in emerging market and developing economies, disruptions to production and shipping of commodities—especially oil—conflicts, civil unrest, and extreme weather events have led to downward revisions to the outlook for the Middle East and Central Asia and that for sub-Saharan Africa, it said.
These have been compensated for by upgrades to the forecast for emerging Asia, where surging demand for semiconductors and electronics, driven by significant investments in artificial intelligence, has bolstered growth, a trend supported by substantial public investment in China and India.
Five years from now, global growth should reach 3.1 per cent—a mediocre performance compared with the prepandemic average, the IMF said.
(Photo: Bruno Sanchez Andrade)
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