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.
Traffic is intense at some border checkpoints with Romania, Serbia and Turkiye, Border Police said. At the border with Romania, Traffic is heavy at Kardam checkpoint for outbound freight vehicles. Traffic is also heavy for cars entering and..
North Macedonia did not meet the expectations for constitutional changes and the inclusion of Bulgarians in the country’s constitution, which is a primary condition for starting negotiations with the EU, Germany’s Special Envoy for the Western..
The explosions near the village of Gara Elin Pelin continue, caretaker Minister of Interior Kalin Stoyanov said. Heavily equipped specialists have entered the 6th warehouse of the "Enigma" company and have secured unexploded pyrotechnics. A body was..
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,..
An explosion has occurred at the Sviloza cellulose factory near Svishtov. Two employees from the factory fire service have been injured, Interior..
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