Bulgaria's economy grew by 4% on the year in the first quarter down from a flash estimate of 4.5% on an annual basis, statistics office showed on Wednesday. On a quarterly basis, the small and open economy grew by 0.8% in seasonally adjusted terms from January to March, the office said.

The finance ministry sees the real economic growth at 2.9% this year as a result of the war in Ukraine.

The European Commission sees Bulgarian growth halving to 2.1% this year from 4.2% in 2021. BULGARIA GDP Q1/22 Q4/21 Q3/21 Q2/21 Y/Y % CHANGE +4.0 +5.0 +5.1 +7.8 Q/Q % CHANGE +0.8 +1.3 +0.9 +0.9 (Reporting by Tsvetelia Tsolova)