site.btaUPDATED IMF Revises Downward Its Economic Growth Forecast for Bulgaria in 2022

The International Monetary Fund (IMF) has revised downward its economic growth forecast for Bulgaria in 2022 but expects the economy to grow faster in 2023. This transpires from the April 2022 World Economic Outlook published Tuesday during the spring meetings of the IMF and the World Bank. 

After growing by 4.2% in 2020, the Bulgarian economy is expected to slow down its growth to 3.2% this year.

In its autumn 2021 outlook, the IMF had forecast the Bulgarian economy to grow by 4.4% in 2022.

The economic growth is expected to speed up to 4.5% in 2023.

The IMF expects inflation to reach 11% in 2022 after 2.8% in 2021, after which the increase of consumer prices is forecast to slow down significantly to 3.3% in 2023. 

Unemployment is expected to drop to 4.9% in 2022 and 4.6% in 2023, after soaring to 5.3% in 2021.