Bulgaria's Economic Outlook Dimmed as EBRD Lowers Growth Projections

The European Bank for Reconstruction and Development (EBRD) has revised its growth forecast for Bulgaria's economy for the upcoming two years, as reported by BTA. The bank now expects a slowdown of 0.4% this year, predicting a growth rate of 2.2%, down from previous estimates.

Looking ahead to next year, the EBRD has adjusted its projection from 3% to 2.9%. Overall, expectations for the entire Southeast Europe (SEE) region have also been lowered, with growth anticipated to decline from 2% in 2023 to 1.9% this year, reflecting a revision of 0.9%. The bank attributes the downward trend for 2024 to sluggish industrial production and decreased demand for outsourcing services.