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.
"The judicial reform has been thrown in the bin. It is a model that shows the utter madness of concentrating so much power at the top of a repressive institution and having no control over the figure who runs it. The court has said that Bulgaria is a..
Two Bulgarian military helicopters will today help to extinguish the fire burning on the Slavyanka mountain on the border between Bulgaria and Greece. Yesterday the forest fire in Greece reached and crossed the border. On Bulgarian territory it is a..
Today the Bulgarian Socialist Party (BSP) is gathering thousands of supporters of leftist ideas at its traditional festive rally under the Buzludzha peak in the Balkan Mountains to mark 133 years since the beginning of the organised socialist movement..
It will be sunny on Monday. Clouds will form over the northern, central and northeastern parts of the country in the afternoon and the evening with a..
The efforts to put out the fire on the Greek Bulgarian border continue. Two aircraft sent by France under the EU civil protection mechanism will join..
On Tuesday there will be sun and temperatures will be high in the Western part of the country. Over Eastern Bulgaria there will be clouds and,..
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