In 2020, Bulgaria's real GDP decreased by 4.4%. This was due to the negative net exports and to a lesser extent to a decline in private investment, the latest macroeconomic forecast of the Bulgarian National Bank reads.
In the previous forecast made in September last year, the country’s GDP was expected to decline by 5.5%. Economic activity is expected to grow by 3.7% in 2021 and by 3.6% in 2022, reaching pre-pandemic levels in 2022, BNB forecasts. The GDP growth in 2021 should come from an increase in net exports, investment in fixed capital and private consumption. Annual inflation for 2020 stands at 0.3% compared to 3.1% at the end of 2019.
The international rating agency Standard & Poor's (S&P Global Ratings) has affirmed Bulgaria's 'BBB/A-2' long-term and short-term foreign and local currency sovereign credit ratings. The rating outlook remains positive. If a stable..
In the next 3 to 5 years, Bulgaria will experience a shortage of more than 250,000 specialists with higher education. For the past 8 years, Bulgaria has missed the opportunity, which a number of EU countries have taken advantage of, to conclude an..
The Governing Council of the Bulgarian National Bank (BNB) has ordered banks in the country to apply a minimum set of 6 indicators for monitoring credit standards when granting and renegotiating loans secured by residential real estate . The aim is to..
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