The Bulgarian economy is to experience two years of healthy growth according to the ratings agency, Moody’s.

Growth for 2015 is set to be 1.3% and improve to 1.8% next year according to their report released recently.

The predictions are slightly better than the country’s finance ministry, who predicted 1.4% for this year with 1.7% for 2016.

Stable

The ratings agency put Bulgaria on a stable outlook going forward with its debt at Baa2 level.

The decision they say, reflects a sound budgetary position, sustainable economic recovery and successful reforms currently being implemented economically. The reforms, Moody’s said, were “critical to safeguarding financial stability.”

Greece’s debt and euro uncertainty were factored into the rating of Bulgaria’s debt. Being neighbours, Moody’s factored the risk of ‘external shocks’ emanating from the situation and having an impact on the Bulgarian economy.

Growth in Bulgaria last year was 1.7% and it was 1.1% in 2013.