Text size

The BNB recommends a 10% buffer in the 2024 budget

published on 11/28/23 2:26 PM

Dimitar Radev

Photo: BTA

GDP growth in Bulgaria will be 1.9% in 2023, slowing to half the 3.9% rate in 2022. Domestic demand and net exports will contribute to growth. Annual inflation will be 6.1 per cent. These are the expectations of analysts at the Bulgarian National Bank (BNB), published in the latest issue of the quarterly "Macroeconomic Forecast".

The November growth estimate has been revised upwards by 0.9 per cent compared to the previous analysis in June. GDP growth is expected to reach 2.7 per cent in 2024 and 3.6 per cent in 2025, with the November estimate revised downwards by 0.5 per cent from the June forecast. The pessimistic prognosis reflects the risks posed by global geopolitical conflicts and rising wage costs.

BNB governor Dimitar Radev recommended that the 2024 budget include a 10% buffer, which, if not spent during the year, would be spent in the last quarter of 2024.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy 2024 BNB buffer Bulgarian National Bank Dimitar Radev prognosis reccomendations

More from category

Bulgaria has met the Eurozone inflation standard in 2024

Inflation for 2024 is 2.2% compared to the previous year, the National Statistical Institute reports. In December, this indicator was 0.4%. Annual average inflation for the period January 2024 - December 2024 compared to the period January 2023 -..

published on 1/15/25 11:50 AM

Unions and businesses protest against hike in industrial electricity prices

Without compensation for the price of electricity, companies will be uncompetitive, said Vasil Velev of the Bulgarian Industrial Capital Association (BICA) at a press conference held jointly with trade unions. Those who cannot pass on the increase in..

published on 1/9/25 1:13 PM

Eurozone entry could bring benefits for Bulgarian businesses and economy

Bulgarian exports are expected to grow by 5.8% annually after Bulgaria joins the eurozone. Trade in goods could increase by 3.3%, and in the services sector, growth might reach 8.4%. This is predicted by an analysis by the trade credit insurance..

published on 1/8/25 11:37 AM