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IwatchBulgaria.com - News - GDP Growth Slows Down to 5.7% y-o-y.
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You are in Home > News > Macroeconomic developments > GDP Growth Slows Down to 5.7% y-o-y.
GDP Growth Slows Down to 5.7% y-o-y.
submited on 19.12.2005 in category Monetary policy | Macroeconomic developments
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GDP growth decelerated for the first time in two years. For the year till September, real economic growth was 5.7% which almost coincides with Industry Watch 2005 forecast (5.8%). Fixed capital investments grew surprisingly quick - by over 25% in Q3 2005 on the basis of the same quarter 2004 - while we expect investments growth to be 13-15 percent in 2005.

Gross value added in the non-farm business sector - a major indicator that we monitor - slowed down to 6.9% in the 12 months till September. This indicator excludes the budget domains and agriculture, for which no reliable statistics is available. In the year till March, the growth of non-farm business sector GVA was 7.8%, decelerating thereafter.

Exports stayed almost unchanged in Q3 (on the basis of the same quarter 2004). However one has to keep in mind that 2004 was abnormally favoubalbe for the heavy industries, mainly metals in Bulgaria. The slow growth of exports thus should be treated as normalization of the industry structure rather than as a macroeconomic problem.
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