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The Economic Situation in Bulgaria

A recent report released by the International Monetary FundĀ  forecasts a positive year for the growth of Bulgaria's

economy. Previous to this statement by the IMF, the Bulgarian government had projected a growth of 3.6% for 2011, however, the IMF say that a more realistic figure of 3% is likely to be achieved in the country.

The GDP value is also set to rise in Bulgaria but this will be at a much slower rate that at first expected. This is something that the Bulgarian government is striving to change and is due mainly to the fact that the country imports substantially more than it exports resulting in Bulgaria being one of the lowest GDP countries within the E.U.

Inflation is set to rise in Bulgaria with a forecast of up to 5.3% at the closing of the year. This increase is said to be due to the rise of production costs in Bulgaria.