The country's economic growth is then seen to accelerate to 3.2% in 2024

The International Monetary Fund (IMF) said on Tuesday that it expects Bulgaria's real economy to expand by 1.7% in 2023, increasing its April projection for 1.4% growth.

Bulgaria's economic growth is then seen to accelerate to 3.2% in 2024, or 0.3 percentage points lower than the forecast made in April, the IMF said in its October 2023 World Economic Outlook (WEO) report.

The country's gross domestic product (GDP) grew by 3.4% in 2022.

Consumer price inflation is forecast to slow down to 8.5% this year from 13% in 2022 and further drop to 3% next year, the IMF said.