Bulgaria Q1 GDP growth slows more than estimated
Photo by FOXARTBOX/Shutterstock.com
Bulgaria's economic output increased by 4% year-on-year in the first quarter of 2022, following an annual rise of 4.5% in the final quarter of 2021, the National Statistical Institute (NSI) in Sofia said on Wednesday, lowering its May flash estimate of first-quarter growth by 0.5 percentage points.
Still, it was the fourth quarter of growth. On the expenditure breakdown, final consumption increased 5.2% annually in the March quarter and gross capital formation logged a significant growth of 30.6%.
Exports climbed 6.5% compared to last year, while imports grew at a much faster pace of 13.5%. On a quarterly basis, GDP growth moderated to 0.8% in the first quarter from 1.3% in the preceding three-month period.
According to flash data, the rate of increase was 1%. Bulgaria's GDP totaled some BGN 32.8 billion (EUR 16.8 billion) at current prices in Q1.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.