Bulgaria Q1 GDP Growth Revised Slightly Higher

Figures

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The Bulgarian economy rose by 1.8% year-on-year in the first quarter of 2024, slightly better than 1.7% in the preliminary estimate, and following an upwardly revised 1.7% expansion in the previous three-month period, data released by the Sofia-based National Statistical Institute (NSI) on Friday show.

Both, household consumption (+3.7% vs +2.8% in Q4) and government spending (+1.7% vs +0.1%) increased at a faster pace.

Notably, fixed investment picked up (+7.9% vs +4.7%). Meanwhile, net external demand contributed positively to the GDP, as exports (-2.1% vs -2.1% in Q4) fell less than imports (-3.7% vs -4.5% in Q4).

On a quarterly basis, the gross domestic product (GDP) grew by 0.4%, matching the initial estimate, after a 0.5% rise in the prior period. 

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