Podcast in English
Bulgarian National Radio © 2022 All Rights Reserved

EC: Bulgaria to see 12% inflation in 2022

Photo: Archive

Gas prices are expected to rise on a one-off basis due to the halted supplies from Russia, but they will be offset by alternative supplies, according to European Commission's latest spring macroeconomic forecast for Bulgaria. Energy prices are expected to start falling after the summer.

The inflation rate prognosis for 2022 is 11.9%, while for 2023 it is 5%. The country's GDP growth for 2022 will plunge to 2.1 percent from 4.2% in 2021. Growth of 3.1 per cent is projected for 2023.

To soften the impact of high energy prices, employers will limit wage increases, freeze job openings and investment, trying to keep unemployment rate below 5 percent.

Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

President Radev

President gives government-forming mandate to "We Continue the Change"

Today, President Rumen Radev hands over an exploratory mandate to form a government to the candidate for prime minister, nominated by the first political force in parliament "We Continue the Change". The party has a week to propose a..

published on 7/1/22 5:25 AM
Eleonora Mitrofanova

Russian ambassador's ultimatum: Sofia to cancel the expulsion of the 70 diplomats by noon tomorrow, or...

Russian Ambassador to Sofia Eleonora Mitrofanova has handed a note verbale to the Bulgarian Foreign Ministry, in which she demands in an ultimatum tone that by 12.00 noon on 1 July 2022 the country withdraws the persona non grata notes on the..

published on 6/30/22 7:39 PM

Weather forecast for Bulgaria for Friday, July 1

It will be sunny in Bulgaria on Friday. Occasional showers and thunderstorms are expected in the mountains and the northeastern parts of the country in the afternoon. Daytime highs will fluctuate between 33°C and 38° C, for Sofia- around 32° C...

published on 6/30/22 7:35 PM