Bulgaria’s real GDP is projected to contract by 7.2% in 2020 largely due to the adverse impact of measures taken to contain the spread of Covid-19 pandemic. In 2021, growth is forecast to rebound to around 6%, partially offsetting the decline in 2020, the European Commission forecasts. The economy in the whole EU will contract by 7.5% this year. The strength of Bulgaria’s economy and the positive external and fiscal balances before the outbreak of Covid-19 pandemic should help this country recover from the large economic shock, the spring forecast of the Commission further reads.
In February, the Commission forecasted that Bulgaria’s economy would increase with 2.9%. A rebound in economic activity is expected in the second half of 2020 with the gradual lifting of confinement measures. Domestic demand is projected to strengthen already in the third trimester and should continue growing in the fourth quarter of 2020, the analysis reads.
30% of the hotels in the Black Sea resort of Sunny Beach open in the beginning of May. These are mostly high-class hotels for which reservations have been made by Bulgarian, Romanian and Greek tourists. "The prices for the tourist packages this summer..
The 148th anniversary of the April Uprising - a turning point in the struggle for the liberation of Bulgaria from Ottoman rule, will be marked today with a reenactment in the town of Klisura. Dozens of members of the "Tradition"..
On May 1, 1879, the first Bulgarian postage stamps, called "centimes" at that time, were put into circulation. Their nominal value was 5 centimes, as there was no Bulgarian monetary unit. They depicted a lion with a crown as a symbol..
A new complex in the village of Samoranovo, which includes a prison without bars based on the Norwegian model, a training center for prison officers, etc...
On Tuesday, lows will be between 7 and 12°C, 8°C in Sofia. During the day, rain will start to decrease from the north to central and eastern Bulgaria,..
Bulgaria remains consistent in its support for Ukraine and will actively participate in the process of its post-war reconstruction , caretaker Premier an..
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