The credit rating of Bulgaria is underestimated and might be adjusted in a positive direction, said Petar Botusharov, vice-president with the London office of Deutsche Bank on Wednesday. The estimates of Deutsche Bank point out a 5.2 per cent GDP growth in 2000 and a budget deficit of 0.5 per cent of GDP. According to Botusharov, Deutsche Bank expects four per cent GDP growth in 2001 and reduction of the foreign debt. One of the weaknesses the bank pointed out was the slow pace of the privatisation of large state monopolies - namely the Bulgarian Telecommunications Company and the tobacco company Bulgartabak.