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Word Bank forecasts that Bulgaria’s economy will plunge into recession in 2020

The Bulgarian economy will plunge into recession due to the impact of the Covid-19 pandemic on exports and domestic activity, the Europe and Central Asia Spring Economic Update of the World Bank reads. Bulgaria’s GDP is expected to decline by 3.7% in 2020. However, the 2021 forecast of the World Bank reads that this country’s economy will mark a 3.9% growth. The World Bank calls for decisive policy measures in support of the most-vulnerable groups and sectors, in order to mitigate the impacts of the Covid-19 pandemic.




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