The European Bank for Reconstruction and Development has raised its forecasts for the economic growth of Bulgaria in 2023 and 2024, as well as for the region of Southeast Europe. The growth of the Bulgarian economy is expected to be 1.3% for 2023 and 2.9% for 2024. This is 0.3 percent more compared to previous forecasts. The region's growth is expected to reach 2.3% in 2023 and 3% in 2024.
The European Commission also raised its expectations for the economic growth of Bulgaria, but also raised the forecast for annual inflation. According to the spring macroeconomic forecast of the commission, Bulgaria will mark a 1.5% GDP growth by the end of the year. In the winter forecast, growth was 1.4%.
The reason for the positive correction is that Europe has coped better than expected with the consequences of the war in Ukraine. Bulgaria's modest growth is due to the fact that last year's export boom will not be repeated in 2023 due to weakened external demand.
Although bilateral trade reached nearly $4 billion last year, there are still untapped opportunities to further increase Bulgarian exports to China. This was made clear at a meeting between the Minister of Economy and Industry, Mr. Petko Nikolov, and..
Housing loans in Bulgaria increased by 24.8% year-on-year, reaching BGN 22.3 billion (EUR 11.4 billion) by the end of June 2024, according to the BGNES news agency. Consumer loans also rose by 14% year-on-year compared to June 2023, reaching BGN..
Bulgaria’s real GDP growth is expected to stand at 2.1% in 2024, indicates the macroeconomic forecast of the Bulgarian National Bank (BNB) in June. Bulgaria’s real GDP growth is expected to stand at 2.1 per cent in 2024, driven by the positive..
Housing loans in Bulgaria increased by 24.8% year-on-year, reaching BGN 22.3 billion (EUR 11.4 billion) by the end of June 2024, according to the BGNES..
Although bilateral trade reached nearly $4 billion last year, there are still untapped opportunities to further increase Bulgarian exports to China. This..
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