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Bulgaria

Bulgaria: Growth of 2.5% recorded by the economy in the first quarter 2021

The Bulgarian economy grew by 2.5% in the first quarter of 2021 compared to the last quarter of 2020, when it also grew by 2.2%, according to the National Statistics Institute.

Bulgaria’s GDP still remains 1.8 per cent lower, compared to the same period in 2020, when the country had not yet been hit by pandemic restrictions. In 2020, Bulgaria ‘s GDP shrank by 8.6%, the largest economic downturn since the 1997 crisis.

In the first quarter of 2021, the country’s GDP reached over 13.5 billion euros. Economic growth in 2021 is due to the increase in exports of goods and services by 6.5% and final consumption by 1.6%. /ibna

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