07/27/12 16:53
(http://www.klassa.bg/)

Economic data for the first six months of 2012 is negative

Data for the first six months of the year is negative and, despite the fact that our situation is not that dramatic, the economy in general has stalled," stated Georgi Prohaski, Chairman of the Centre for Economic Development.

According to him, gross value added has shrunk and industry has recorded 0% growth, compared to 9% in 2011. One of the stable sectors of the Bulgarian economy - financial and insurance activity - has also registered a decline.

Foreign trade has stalled as well - there was even a decline at the beginning of the year. Fortunately, growth of 0.9% was reported for the first five months of the year.

The unemployment rate continues to grow, albeit at a slower pace, reaching 13% in the first six months of 2012.

"Based on these indicators, we can expect growth of 0% for Q2 2012," added Prohaski. Investments, however, have grown for the first time since 2008, reaching half a billion Euro, and annual inflation is expected to stand at about 4%.
 

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