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

The World Bank lowers its annual global growth forecast

Photo: BGNES

Bulgaria’s economic growth in 2023 will be 1.7%, the World Bank forecast in a new report. The expected rise has been lowered from the 2.6% growth forecast announced in June. For Eastern Europe, the latest expectations are for growth of 1.1 percent.

Global growth will slow "dangerously close" to recession in 2023, according to the institution, which has slashed its economic expectations due to high inflation, rising interest rates and the war in Ukraine.

A sharp, protracted slowdown is likely to push global growth down to 1.7 percent, nearly half the pace previously forecast and among the weakest in decades, the Washington-based institution said.

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

More from category

Bulgaria’s Minister of Economy Bogdan Bogdanov

Economy Minister: Foreign investments in Bulgaria increase

In 2022, arms exports increased with 200% and amounted to EUR 1.6 billion. The growth in revenues is 220% compared to 2020", Bulgaria’s Minister of Economy Bogdan Bogdanov said for BNT.  2022 is the second year of the last 15 years with the highest..

published on 7/17/23 10:57 AM

Deputy Minister of Energy: There will be clarity about the interest in the equipment of Belene NPP within 2 months

We will have concrete parameters of Ukraine's interest in the reactors from the unfinished Belene nuclear power plant within 60 days , Bulgaria’s Deputy Minister of Energy Iva Petrova said for “Bulgaria on air” TV. “The National Assembly, which..

published on 7/16/23 11:42 AM

Is there going to be a referendum on the adoption of the euro – the jury is still out

The majority in the National Assembly, i.e. GERB/SDS and We Continue the Change/Democratic Bulgaria (PP/DB) and the Movement for Rights and Freedoms, rejected the proposal by the nationalist party Vazrazhdane for the holding of a referendum on keeping..

updated on 7/11/23 11:25 AM