Bulgaria Q1 economic contraction confirmed

Figures

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Bulgaria's economy contracted at a slower pace in the first quarter of the year and remained stuck in a severe recession, latest data from the Sofia-based National Statistical Institute (NSI) confirmed Tuesday.

Gross domestic product (GDP) decreased a seasonally adjusted 1.8% year-on-year in Q1, following a 3.8% fall in the fourth quarter.

Consumption, investments and imports grew, while exports dropped sharply. Compared to the previous quarter, GDP rose 2.5% in the first quarter after a 2.2% gain in the previous three months.

The flash estimates were thus confirmed. The gross value added decreased 1.7%, revised from 1.6%, after a 3.9% drop in the previous quarter. 

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