(ANSA) - BELGRADE, 11 AGO - If the government does not speed up public spending in the remaining half of the year, the economy in Bulgaria could shrink in 2020 by more than the 5.0% previously forecasted, analysts from ING said on August 10.

"Bulgarian economic activity remains subdued, with the recovery still not clearly in sight. On the other hand, the depth of the fall has also been slightly less dramatic, particularly in industry," ING said in an economic and financial analysis on the situation in Bulgaria. However, " with the number of Covid-19 infections on the rise again and anti- corruption protests still ongoing, the chances for a rebound in consumer morale are rather bleak." ING noted that retail sales remained almost flat in spring, with a -10.3% registered in the first six months of the year, compared to the same period of 2019. (ANSA).