The forecast for growth of Bulgarian economy increased slightly. Ministry of Finance, which is currently managed by Kiril Ananiev expected GDP to reach 3% this year. In December, the Ministry of Finance forecasts growth of 2.9%.
MF gives a more optimistic forecast for the entire four-year period, compared with previous expectations in December. Strong GDP growth in Bulgaria began in 2015. and is expected to continue until at least 2020.
According to the Ministry, this year's growth will be driven mainly by domestic demand. Exports decreased slightly compared to 2016. and this means that there will be a lower contribution to GDP growth.
Because of slowing economic growth in the EU is expected and less imports into Turkey and the countries of Western Europe, where Bulgaria generates nearly 15% of its exports.