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Financial News: Bulgaria Q1 GDP Growth Slows More Than Estimated

Bulgaria Q1 GDP Growth Slows More Than Estimated

06/08/2022 - 10:53:00 (RTTNews)

(RTTNews) - Bulgaria's economic growth eased more than initially estimated in the three months ended March, latest data from the statistical office showed on Wednesday.

Gross domestic product advanced a seasonally adjusted 4.0 percent year-on-year in the March quarter, slower than the 5.0 percent expansion in the three months to December.

The figure for the first quarter was revised down from the 4.5 percent rise seen in the initial estimate published on May 17.

On the expenditure breakdown, final consumption increased 5.2 percent annually in the March quarter and gross capital formation logged a significant growth of 30.6 percent.

Exports climbed 6.5 percent compared to last year, while imports grew at a much faster pace of 13.5 percent.

On a quarterly basis, GDP growth moderated to 0.8 percent in the first quarter from 1.3 percent in the preceding three-month period. According to flash data, the rate of increase was 1.0 percent.

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