Moody's: Stable outlook for Bulgaria's economyStaff Writer | October 17, 2016
The international agency Moody’s has confirmed Bulgaria’s credit rating and a stable outlook.
Europe Fiscal consolidation in Bulgaria will continue
“Bulgaria’s credit rating is underpinned by long-term indicators, which are relatively favourable, compared to other countries, and the stabilisation of its internal position,” stated Marco Zaninelli, Moody’s Assistant Vice President and co-author of the research.
It is predicted that fiscal consolidation will continue in 2016 and next year.
“Moody’s expects Bulgaria’s budget deficit to decrease to 1.3% of GDP in 2016 and to 0.9% in 2017. The debt-GDP ratio will increase insignificantly in 2016 before stabilising next year and beginning to decrease in 2018.”
The agency forecasts a slight slow-down of Bulgaria’s economic growth to 2.8% in 2016 and 2017 from the 3.5% recorded for 2015.
The rate of increase of exports will, however, be lower than the rate of increase of imports, warned Moody’s. ■