Bulgarian GDP marks a remarkable rise in the second quarter of 2017

According to the National Statiscial Institute's website (NSI) the Gross Domestic Product marks a significant rise in the second quarter of 2017 as compared to the previous quarter of the same year and the same quarter of the previous - respectfully 0.9% and 3.6%.
These are the so called flash estimateand are defined by the Eurostat Handbook on quarterly National Accounts as:

"...the earliest picture of the economy according to national accounts concepts, which is produced and published as soon as possible after the end of the quarter, using a more incomplete set of information than that used for traditional quarterly accounts..."

Flash estimates on GDP are not final, meaning that they can be revised and edited. They are based on preliminary short-term information, expert assessments and models for the structure of GDP. The flash estimates were prepared within 47 days after the reference period. The official esimates for the second quarter, however, will be published by the NSI on September 5th 2017.

The results are high on a European level, and even amongst the better rates among Eastern Europe where economic growth tends to be higher.

For the last several years the economic growth has been underwhelming (although existent), so a reversal in the trend will be widely welcomed, so that Bulgaria can begin it's economic conslidation with Western Europe.

Vasil Manev

Vasil Manev is a student in Computer Science and an aspiring columnist, studying in Heidelberg, Germany.

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