Bulgarian economy grows 3% YoY in Q2’16

Bulgaria’s seasonally adjusted GDP expanded 3% YoY and 0.7% QoQ in the second quarter of 2016 according to NSI flash estimates. Q2 GDP at current prices amounted to BGN 21 753m. GVA in the second quarter of 2016 amounted to BGN 18 538m, up by 2.5% YoY and 0.4% QoQ. Breakdown by expenditure components reveals that final consumption was up 2% YoY and 0.4% QoQ, gross fixed capital formation declined 4.5% YoY (+0.4% QoQ), while exports and imports of goods and services increased by 2% YoY (-1.4% QoQ) and 2.2% YoY (+0.4% QoQ), respectively.