Bulgaria Sees Euro Recovery to Boost Growth Quickly, Kostov Says

A euro-area recovery should “quickly” feed into Bulgaria’s economy as sound macroeconomic policies help an expansion to accelerate, central bank Governor Dimitar Kostov said.

There is “room” for economic growth this year to exceed the central bank’s forecast of 1.7 percent, Kostov said in an interview at the Euromoney conference in Vienna yesterday. The 2014 budget is based on an assumption of an 1.8 percent rise in gross domestic product, while the European Commission forecasts 1.5 percent after an estimated 0.5 percent growth in 2013. The economy expanded 0.7 percent in the third quarter.