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Bulgarian economy posts Q4 growth spurt - official estimate

Tuesday, Feb 15, 2011

Bulgaria's economy grew by 1.7 per cent in the last quarter of 2010, compared to the previous three months, the country's National Statistics Institute (NSI) said in a flash estimate on February 15. Compared to the same period of 2009, the gross domestic product (GDP) grew by 2.1 per cent.

In absolute terms, fourth-quarter GDP was estimated at 19.92 billion leva and at 70.56 billion leva for the full year. NSI did not provide comparison figures for the full year 2009.

Consumption, which was one of the main drivers of economic growth in recent years, was up 4.1 per cent for the quarter and investment was 2.8 per cent higher.

On an annual basis, NSI estimated consumption to be down 1.3 per cent and investment down 2.1 per cent compared to the same quarter of 2009.

NSI's flash estimates, which were launched in 2008, are based on limited data and are subject to revision. NSI was expected to provide preliminary GDP data for the fourth quarter and the full year 2010 in March.

Source: sofiaecho.com