Bulgaria GDP Grows 0.5% in Q2, Spells End of Recession

Bulgaria's gross domestic product marked an increase of 0.5% in the second quarter compared to the first three months of the year thanks to a rise in exports, pulling the country out of recession, the prime minister announced on Thursday.
Boyko Borisov spoke at the 96th Conference of the heads of statistical offices of the European Union Member States, which the Bulgarian capital hosts. The official data he cited is based on the revised methods for GDP under the EU standards.

"This is the first time that Bulgaria's GDP grows since the recession set in at the end of 2008 and the beginning of 2009 and it is due mainly to a rise in exports", Borisov commented.
"The statistics show that Bulgaria's recession has bottomed out. The average Bulgarians however are still bearing the brunt of the economic crisis and more efforts will be needed for their living standards to rise", he said.

News source: Novinite.com link: article