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 two most sought-after currencies by Bulgarians in 2024 remain the US dollar and the euro, just as in 2023. The Turkish lira, the Romanian leu and the Serbian dinar were also very popular, followed by the British pound and the Swiss franc. This was..
The overall business climate indicator in Bulgaria has increased in December by 1.7 points from 17 percent to 18.7% compared to November . An increase in the indicator was observed in the industry sector by 1.9 points, in retail trade by 5.7 points and..
The National Assembly postponed the discussion and voting of the most important fiscal law of the land – the national budget for 2025 – for next year. “If we do not have an approved budget by 19 January, then everything in the country will grind to a..
A concession award procedure for Plovdiv Airport is planned, Deputy Premier and Minister of Transport and Communications Grozdan Karadjov said at a..
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