Bulgaria
Bulgaria: GDP growth accelerates at the start of the year
GDP growth accelerated by 1.1% quarter on quarter in 1Q19, from 0.8% QoQ previously. We see full-year growth at 3.4%
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The economy expanded by 3.4% year-on-year in 1Q19 versus 1Q18. Net export was the main contributor to sequential growth, consumption recovered, while gross fixed capital formation decelerated.
| 3.4% |
YoY GDP growthvs 3.2% Bloomberg median and ING call |
| Higher than expected | |
Soft data points to similar cruising speed
Source: EC, NSI, ING
The economic sentiment index (ESI) recovered at the start of the second quarter as fiscal and monetary stimulus and EU funds should be enough to keep growth prospects quite solid for the current year.