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.
“Our cabinet has a short time horizon, we have no right to ask people to postpone their lives until a regular cabinet is elected. That is why we are doing our job in the best way possible,” says caretaker Prime Minister Dimitar Glavchev in an..
“Arab states can play a game-changing role in steering the (Israeli-Palestinian) conflict towards a resolution and a just and enduring peace that has long eluded this troubled region,” writes Nickolay Mladenov, former foreign minister of Bulgaria in..
There will be no significant rise in the price of electricity for household users, said caretaker Energy Minister Vladimir Malinov. Kozloduy NPP withdraws proposal for 30% rise in electricity price, will propose less “I believe there could..
There will be no significant rise in the price of electricity for household users, said caretaker Energy Minister Vladimir Malinov. Kozloduy..
The European Commissioner for Agriculture Janusz Wojciechowski will be on a working visit to Bulgaria on May 21. His program includes meetings in..
The caretaker cabinet has provided almost 80 million Leva (EUR 40 million) in additional funding for salaries for public universities , the government..
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