Bulgaria: IMF sees 4% GDP drop in 2020

Bulgaria: IMF sees 4% GDP drop in 2020

The IMF expects Bulgaria’s GDP to shrink by 4% this year, followed by economic growth at a rate of 4.1% in 2021, according to the International Monetary Fund’s latest Global Economic Outlook report published on Tuesday.

In terms of inflation, the Fund expects a slowdown to 1.2% in 2020 from last year’s 2.5%, succeeded by a 1.7% rise in 2021.

According to the IMF forecasts, unemployment in Bulgaria will increase from 4.2% in 2019 to 5.6% this year, before returning to 4.5% in 2021. /ibna