Podcast in English
Text size
Bulgarian National Radio © 2023 All Rights Reserved

Bulgaria's credit rating remains stable

Photo: library

The international agency "Standard and Poor's" (S&P) has confirmed the long-term and short-term credit rating of Bulgaria-  BBB and A-2. The outlook remains stable. This balances weaker expectations for Bulgaria's short-term economic growth and increased domestic political uncertainty on the one hand and low net government debt and low interest costs on the other.

According to S&P, Bulgaria's GDP growth is expected to slow down significantly in the coming months, although the economy has remained resilient to the consequences of the crisis in Ukraine. External demand from countries that are Bulgaria's main trading partners in the EU is expected to decline. With average inflation of 10% expected in 2023 consumption will decline, too. On the other hand, EU-funded projects will provide some support to the economy but real growth in 2023 is expected to be less than 1%, a significant slowdown from expectations of 3% in 2022.

According to Standard & Poor's, Bulgaria is gradually making progress in its efforts to join the Eurozone, but it remains unclear whether it would become a member on January 1, 2024 because of high inflation and political uncertainty.


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

More from category

NSI survey: More than 20% of producers anticipate price increases

In January, the country's business climate remained roughly at its December 2022 level , a survey conducted by the National Statistical Institute shows. More favourable business climate was reported in industry and retail, and some deterioration - in..

published on 1/30/23 5:45 PM

Construction of the Bulgaria-Sеrbia gas interconnector starts

The construction of the Bulgaria-Serbia gas interconnector on Bulgarian territory starts on February 1 , the Bulgarian presidential administration said.  Bulgarian and Serbian Presidents Rumen Radev and Aleksandar Vucic will participate in the..

published on 1/30/23 2:56 PM

Austrian company expands winter sports hardware production with new plant in Asenovgrad

One of the largest Austrian ski equipment manufacturers in the world , based in the ski resort of Chepelare, will build a new plant in the nearby town of Asenovgrad, Bulgaria. Production is expected to start by the end of 2023. According to managing..

published on 1/29/23 7:30 AM