The last report of the European Commission on the growth of the EU member states, dated 23th February 2012, provides that despite of the expectations for recession in the Eurozone in general, Bulgaria is expected to demonstrate a steady economic growth and for that reason it is ranked 5th among the countries for economic growth. The European Commission revised entirely its forecast for economic growth of the EU member states and it confirmed its expectations for the recession in the Eurozone to be at the rate of 0.3%.
Despite this negative forecast, the Commission’s forecast for Bulgaria turns out to be very favorable. The expectations for the first half of 2012 are for a slight, not very noticeable growth, while in the second half it is expected to steadily increase together with the increase of the economic activity of the EU. The provisional growth is for Bulgaria is at the rate of 1.4%.
In this report has been used current data of the Bulgarian economy. There is a surplus of the current account, stability of the bank sector and the public finances which do not need any corrections in a long run. Another point of the forecast is the expectation for a steady recovery of the inner demand and purchase power and a stabilization of the labour market.
According to the same report, the economic growth of 9 EU countries will be negative in 2012, with no change in one country and positive in 17 countries, including Bulgaria.