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Bulgaria's statistical office, NSI, confirmed today that the Bulgarian economy grew by 1.6% year on year in the second quarter of 2014. The second-quarter increase improved on the result recorded in the corresponding period of 2013, when Bulgaria's gross domestic product (GDP) grew by 0.4%. Bulgaria recorded economic growth of 0.9% last year and projected a 1.5% increase in GDP for 2014.
There were 381,800 unemployed people in Bulgaria in the second quarter of this year, equivalent to an unemployment rate of 11.4%. Compared with the second quarter of 2013, the number of unemployed fell by 12.7% and the unemployment rate decreased by 1.5 percentage points.