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Dramatic economic decline of 10% marked in second quarter

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Bulgarian economy has contracted in the second quarter of the year by a record 10% compared to the first three months of the year and also recorded the most dramatic decline on an annual basis by 8.5% since 1997.

Data from the National Statistical Institute are for the period of the strictest anti-epidemic quarantine measures aimed at limiting the spread of COVID-19. GDP decreased in the second quarter of 2020 by as much as 10% compared to the first three months, when it grew slightly by 0.3 percent. This has been the worst economic quarter for Bulgaria for a quarter of a century. For the second quarter, GDP reached over 14 billion euros or 2016 euros per capita.




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