Bulgaria's GDP has Increased nearly Twice in 20 years
Bulgaria's Gross Domestic Product (GDP) has increased nearly twice, and exports have grown sixfold over the last 20 years, said Deputy Minister of Economy Alexander Manolev during the ceremony marking the 20th anniversary of the establishment of the Bulgarian Economic Forum, reports mediapool.
According to Manolev two decades ago, Bulgaria's GDP was about 45 billion leva and at the end of 2016 it reached 84 billion. Meanwhile, the National Statistics Institute reported on Tuesday that the growth of the economy for the third quarter of 2017 reached 3.9% on an annual basis.
At the same time, Romania recorded a record 8.8% growth for the quarter, which, according to analysts, is unhealthy and speaks of overheating. Even more positive are the data on Bulgarian exports, which constituted only 3.7 billion euro, and now exceeds 24 billion.
"20 years ago we were in a severe financial and economic crisis, today Standard & Poor's places our country's credit rating on the investment scale," the deputy minister added. According to Manolev, the facts show the long way which institutions, businesses, trade unions and the non-governmental sector have gone together.