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Bulgaria Govt Expects 4,7% Economic Growth in 2009

Friday, Oct 31, 2008

Bulgaria's cabinet approved Thursday its budget prognosis for the 2009-2011 period, which states it expected an economic growth of 4,7% in 2009.

The government expects that the country's GDP will be BGN 66,4 B in 2008, BGN 73,8 B in 2009, BGN 80 B in 2010, and BGN 87,5 B in 2011.

Despite the expected decrease in the economic growth to 4,7% in 2009 from the estimated 6,5% in 2008, the Bulgarian government projects an increase in the country's economic growth in the following two years - 5,2% in 2010, and 5,8% in 2011.

Bulgaria's estimated inflation at the end of 2008 is set at 9,8%, and at 5,4% in 2009, and 4,1% in both 2010 and 2011.

The economic policy of the Bulgarian government envisages the preservation of the country's macroeconomic stability, the stimulation of dynamic economic activity and competitiveness of Bulgarian companies, and improved quality of the social services in order to raise the living standard.

Source: Sofia News Agency