Bulgarian 9-mo Economic Growth Slows Down to 5,7%

19.12.2007

Bulgaria's gross domestic product (GDP) grew by a real 5,7% in the first nine months of the year, compared to the same period of last year, but slowed down from the 6,4% recorded in the first half of the year, the country's statistics board NSI said on Wednesday.

GDP in the first nine months of the year was EUR 20,52 B, including EUR 8,01 B in the third quarter alone, when economic growth was 4,5%.

It was the slowest Bulgaria's economy grew all year, compared to 6,2% in the first quarter and 6,6% in the second.

The agriculture sector recorded a 26,4% drop over the January-September period, with floods and successive heat waves wiping out much of the harvest.

Industrial growth was 10,5% and growth in the services sector - 9,7%. GDP per capita for the nine-months period was EUR 2 665,2.

Last year, Bulgaria's economy grew by 6,1%, well short of the 6,5% official target. It was the third consecutive year of slow decline, from 6,6% in 2004 and 6,2% in 2005.

In nominal terms, Bulgaria's GDP last year was BGN 49,1 B, or EUR 25,1 B.

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