IMF projects average inflation in Bulgaria of 12.2%

The International Monetary Fund projects inflation in Bulgaria to average 12.2% in 2022, reaching 11.6% at the end of the year.

This is stated in the final opinion of the Executive Board of the Fund, based on the data of the mission in Bulgaria.

The IMF's representatives were in the country in early April, but the approved opinion is based on developments.

The projected economic growth is 2.8%.

The IMF's opinion states that the reduction in the VAT rate should be discontinues, but because of the high energy prices there should be support for households and businesses.

The full text of the report is available here.

Source: BNR