Bulgaria’s GDP continued growing at a steady pace during the first three months of 2006, data from the National Statistical Institute shows.

The national economic production was evaluated at 9.815 billion leva until March, which is 5.6 per cent higher compared to the values for the previous three months, Dnevnik newspaper reported.

This result surpassed the expectations of the Finance Ministry which predicted a 4.4 per cent growth rate. At the same time, the percentage is lower than the one for March 2005, when the increase reached 5.9 per cent.

Economists said the growth rate resulted from the investment in the country. Most investors showed interest because of Bulgaria’s upcoming EU membership, Dnevnik reported.

Consumption also increased, though at pace slower than the investment and industrial growth rate, the National Statistical Institute data shows.

According to Cabinet predictions the annual economic growth rate would remain similar to the one in 2005. The analysts from Economist Intelligence Unit, however, predict a slowdown and a decrease from 5.4 to 4.4 per cent.