Bulgarian National Radio © 2021 All Rights Reserved

Bulgaria is among countries of Southeastern Europe which spend the most

The BCCI presented its annual "Bulgaria in figures" report
Photo: bcci.bg

The economic crisis in Bulgaria is deepening, and the country is among the countries of Southeastern Europe which is spending the most due to the coronavirus. That is why its economic recovery is expected to be slower and more difficult after the predicted shrinkage of its GDP.

In 2020 the growth of the Bulgarian economy is expected to shrink by around 7%, and unemployment – to exceed 10%. This is indicated by the annual “Bulgaria in figures” edition of the Bulgarian Chamber of Commerce and Industry (BCCI) with data about the country’s economic indicators in 2019 compared to 27 international rankings.

Bulgaria is improving its position – from 77th to 71st place – in “absence of corruption” but is declining in “rule of law”, “prosperity” and “conditions for doing business”, the document reads. 

More from category

Cross border VAT e-commerce is being modernized in the EU

New VAT rules for e-commerce will be rolled out across the EU as of July 1 to simplify life for businesses that sell goods online, while ensuring a more level playing field with online companies outside the EU . The rules aim to reduce the..

published on 6/9/21 10:00 AM

Cherry harvest season in Bulgaria has started

The season of cherries in the region of Kyustendil has already started. This Bulgarian region has gained reputation as the cherry orchard of this country. The harvest campaign is expected to continue until mid-July. There are hundreds of people..

published on 6/7/21 4:19 PM
(L to R) Finance Minister Assen Vassilev, Galab Donev and Kiril Petkov

Government revives economy with quick loans state guarantees

“A gradual transition is apparent in the country - from a closing of the economy to a revival and recovery. This is confirmed also by the level of unemployment, which as of 2 June stood at 5.65%, a drop of 37% compared to a year earlier,” Minister of..

published on 6/4/21 12:43 PM