First quarter economic growth could reach 6.5%-7%

The economic growth in the first quarter could reach 6.5-7%, a significant rebound from last year, when it stood at 4.1%. “The growth may be around this interval, 6.5-7%, thanks to a rebound of industrial output, an increase in exports, in the constructions sector and to services, as a result of population”s consumption,” official sources stated. The Statistics Institute will publish data on the gross domestic product for the first quarter of this year in June. Industrial output increased by 4.5 % in the first three months, compared with 2.5% last year. Growth pace in the processing industry stood at 4.8% in the first three months. The total turnover of the industrial companies went up by 6% from January through March in real terms against the corresponding period of 2005. Progress in March was of 0.6%. The value of construction works increased by 20.7% in the first three months, after witnessing growth of 21.6% in March, when 3,337 permits for residential buildings were issued. The volume of turnover of the companies in the retail sector (except for the vehicle and motorcycles retail) was 23.8% above the level registered between January and March in 2005. Sales of foods, beverages and tobacco posted significant increases, namely 30.6%. ZF