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Bulgaria’s economy continued to contract in the first quarter of the year, but at a slower pace, and remained stuck in a severe recession, preliminary data from the statistical office showed Tuesday.

Gross domestic product decreased 1.8 percent year-on-year following a 3.8 percent fall in the fourth quarter.

Consumption, investments and imports grew, while exports dropped sharply.

The gross value added decreased 1.6 percent after a 3.9 percent drop in the previous quarter.

Compared to the previous quarter, GDP rose 2.5 percent in the first quarter after a 2.2 percent gain in the previous three months.


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