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1 min read Source: Novinite
From our news archive: this article was published in June 2011. Figures and rules may have changed since.
The Bulgarian economy expanded by 3,4% in the first quarter of the year on an annual basis, revised data of the statistics office showed on Wednesday, well above the flash data published a month ago.
On quarterly basis, the emerging economy expanded 0.6% from January through March.
According to flash data of the statistics office from the middle of May the Bulgarian economy expanded by 2.5% in the first quarter on an annual basis.
The country's gross domestic product grew by 0.4% quarter-on-quarter, following a 0.5% expansion in the previous quarter, downwardly revised from 2.1%, according to the flash data.
The data, which marks the first considerable increase in economic growth since the country plunged into a recession, overshoots analysts' forecasts, which set the GDP growth levels at about 1.5%.
The economy expanded on an annual basis for the second straight quarter.
The government expects an export-led recovery to push up growth to 3.6% this year.
Originally published by Novinite.
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