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.
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, especially during the night and before noon, there will be brief but in some parts heavy rainfall and..
Bulgarian students have won five medals at the International Physics Olympiad in the city of Isfahan, Iran - one silver and four bronze. 198 participants from teams of 46 countries took part in the competition. 12th grader Bayan Gechev from the..
Prime Minister Dimitar Glavchev and Minister of Interior Kalin Stoyanov discussed with representatives of the border authorities measures for faster passing of vehicles through the border checkpoint of Kulata on the border with Greece. The prime..
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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