"We will probably see growth of around 4.5% by the end of 2021, but 90% of this growth is due to credits and inflation, which remained underestimated. The percentage of real GDP is low as it grew by just 0.6% in the 2nd and the 3-rd trimester. We are facing a frozen economy." This is how macro-economist Prof. Dimitar Ivanov commented on the economic situation in the country speaking to the Bulgarian National Radio.
According to him, household savings would decline, inflation would melt away the growth of wages and pensions, and consumption would continue to fall. In 2022, inflation will be a far more important issue than the pace of economic growth, Ivanov said. According to him, the government's focus on key reforms is urgent in order to preserve people's purchasing power and stabilize the economy.
“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are the motors which can boost the economy, but the fact there is no regular government is an obstacle..
Bulgargaz has reported record interest in its tender for the supply of LNG to the Alexandroupolis terminal for January and February 2025. All nineteen bidders met the criteria set by the company and have been approved to participate in the next..
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
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