According to the latest report of Eurostat Bulgaria is among the countries with the highest growth on a quarterly basis in the EU

In the first quarter of 2015 Bulgaria is among the countries with the highest economic growth in the EU on a quarterly basis - 0.9 percent against 0.4 percent in the previous three months, according to Eurostat.

Among the members of EU for which there is available data for the first quarter of 2015, the fastest growing economy on a quarterly basis is Czech Republic (3.1%), followed by Cyprus and Romania (both 1.6%) . Reductions in GDP were recorded in Lithuania (-0.6%), Estonia (-0.3%), Greece (-0.2%) and Finland (-0.1%).

The latest report from Eurostat confirmed that the eurozone economy has accelerated its recovery in the first three months of the year. The data reported 5-year high of rising of the gross domestic product (GDP) amid occurring at the same time contraction in the US and a recession in Japan.

The aggregate GDP of the 19 members rose by 0.4% on a quarterly basis in January-March after a 0.3% rise seen in the last three months of last year. Final data coincided with both the interim evaluation, and with analysts' forecasts.

This is the best result since the first quarter of 2011 onwards when he had a growth of 0.8%.

On an annual basis the economy of EU expanded by 1% in the reporting period compared with growth of 0.9% observed in the fourth quarter of 2014. And here the final data coincided with both the interim evaluation, and with forecasts of experts.

For the first time since the first quarter of 2010 the four largest economies in the euro area reported growth. In addition, for the first time since the first quarter of 2011 the economy of EU rose more quickly than USA and UK .

The news came at a particularly favourable time as European economies continue to benefit from the many supporting factors at once. Oil prices remain relatively low, global growth is stable and the euro continues to depreciate.

A look towards the monetary policy is showing now that quantitative easing from the European Central Bank (ECB) now have a significant impact on financial markets, which contribute to lower interest rates and expectations for improving credit conditions.

In the latest economic forecast European Commission revised up its forecast for growth of EU and explained that predicts the economy will grow by 1.5% in 2015, 0.2 percentage points above the previous estimate. For Bulgaria the Commission expects economic growth of 1%. In the fall of 2014, Brussels predicted that the Bulgarian economy will expand by 0.6 percent this year.

In April the Ministry of Finance (MoF) has revised upwards its forecast for economic growth in 2015 and now expects growth of 1.4% in the initial 0.8%. Last year, gross domestic product (GDP) expanded by 1.7% - the fastest growth in two years.