Bulgaria Q1 economic contraction confirmed

Figures

Photo by Vitoria Holdings LLC/Shutterstock.com

Bulgaria's economy contracted at a slower pace in the first quarter of the year and remained stuck in a severe recession, latest data from the Sofia-based National Statistical Institute (NSI) confirmed Tuesday.

Gross domestic product (GDP) decreased a seasonally adjusted 1.8% year-on-year in Q1, following a 3.8% fall in the fourth quarter.

Consumption, investments and imports grew, while exports dropped sharply. Compared to the previous quarter, GDP rose 2.5% in the first quarter after a 2.2% gain in the previous three months.

The flash estimates were thus confirmed. The gross value added decreased 1.7%, revised from 1.6%, after a 3.9% drop in the previous quarter. 

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.