According to the National Statistical Institute inflation in Bulgaria is 14.4%, but the market basket of consumer goods includes a number of optional goods that nobody consumes. In fact, if the consumer price index is taken into account, inflation in our country already exceeds 25%.
In an interview with BNR, macroeconomist Prof. Dimitar Ivanov pointed out that the Ministry of Finance has yet to analyze in depth the scale of its errors, in terms of the soaring inflation and the strategy needed to tackle it.
In the words of Prof. Ivanov, inflation - at 11-12% - is likely to continue for several years and will reach two scenarios - either stagflation due to rising interest rates around the world, or it will enter a recession, for a period that will surely last until 2025 and possibly beyond.
According to the macroeconomist, Bulgaria is in political and economic turmoil. This crisis is worse than the financial crisis of 1996-1997, when the problems were only in the economy, Ivanov says.
To top it off, there is the war which has cast its impact over the whole world and might take on even greater proportions, Professor Ivanov stresses.
Bulgaria will receive €65.2 million from the EU for a project to reinforce the electricity grid to better support the integration of renewable energy, the European Commission said in a statement. The money is part of a total of nearly €3 billion..
Bulgaria ranks 58th out of 67 countries in the World Competitiveness Yearbook of the Institute for Management Development (IMD), Switzerland. The country has shown a lack of progress since 2021 and dropped 10 positions compared to 2020 and 20..
According to data from the National Statistical Institute, Bulgaria experienced a monthly inflation rate of -0.2% in May 2024 . Year-on-year inflation from May 2024 compared to December 2023 stands at 0.4%, while the average annual inflation rate for the..
Housing loans in Bulgaria increased by 24.8% year-on-year, reaching BGN 22.3 billion (EUR 11.4 billion) by the end of June 2024, according to the BGNES..
Although bilateral trade reached nearly $4 billion last year, there are still untapped opportunities to further increase Bulgarian exports to China. This..
+359 2 9336 661