In its winter economic forecast, the European Commission gives a better economic outlook for Bulgaria than it did in its autumn report.
Overall, real GDP is estimated to have increased by 3.9% in 2022, instead of the expected 3.1%. In 2023, real GDP is expected to increase by 1.4% and in 2024 - by 2.5%. Previous estimates were for a 1.1% increase in 2023, and 2.4% in 2024.
In the context of a tight labour market, wages are expected to continue to grow strongly and to sustain household consumption, the report reads. Export growth is forecast to slow down considerably in 2023 given that the factors for further gains in export market share were largely exhausted in 2022 (…) Overall, HICP inflation is set to decline from 13% in 2022 to 7.8% in 2023 on account of lower energy prices, the report reads further.
Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet the..
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..
+359 2 9336 661