Due to shrinking consumption and export, Bulgaria’s economy will slow down its growth down to 1.8% in 2023, according to the Ministry of Finance spring macroeconomic forecast. In 2022, the growth rate was 3.4%.
Due to the war in Ukraine an alternative scenario has been developed, in which the GDP growth is projected to drop down to 0.5%. The average annual inflation rate will be 8.7%. Due to an expected decline in the prices of some foodstuffs and their share in consumption, inflation is expected to shrink by the end of the year down to 5.6%, the analysis reads. The annual unemployment rate is expected to be 4.1%, a minimum decline by 0.2% compared to 2022.
On the basis of to the spring forecast, in April the Finance Ministry is to present a draft budget for 2023, and submit it to the newly elected parliament for discussion.
The assets of private pension funds have reached EUR 13 billion. According to data from the Financial Supervision Commission, they have increased by more than 20% compared to the same period last year. As of September 30, 2024, the number of..
There has been an upsurge in the economy in every region of Bulgaria, the effects of the Covid crisis have been overcome, tourism has fully recovered, which is evident in Bulgarian seaside regions and spa resorts - this is the conclusion that is drawn..
More than EUR 1 billion will be invested in agriculture and rural areas in Bulgaria in 2025. According to a decision by the Monitoring Committee of the Strategic Plan for Agricultural Development, the funds are aimed at modernizing agriculture and..
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