SOFIA, March 31 (Xinhua) -- The Bulgarian economy could shrink by up to 3 percent this year because of the COVID-19 pandemic, the country's Finance Minister Vladislav Goranov told a press conference here on Tuesday.
"The global uncertainty caused by restrictive measures related to the pandemic makes it increasingly difficult to forecast the development of the global, European and in particular the Bulgarian economy in the coming months," Goranov said.
His ministry has developed three scenarios, Goranov said.
In the most negative scenario, the country's economy would decline by 3 percent in 2020, he said. The other two scenarios predicted 0.7 percent growth and zero growth, Goranov said.
If pandemic restrictions continue for more than three months, the economy would recover to pre-crisis levels probably by the end of 2021, he said.
Bulgaria, where 379 COVID-19 cases have been confirmed so far, declared a state of emergency on March 13. It also closed bars, restaurants, schools and universities, and suspended mass events.
