The German economy has been shrinking and the government expects a decline of 0.2% of GDP. Some of the main reasons for this include unresolved structural problems related to lack of energy security, excessive bureaucracy and shortage of skilled workers, as well as geopolitical uncertainty. In July, an additional Growth Initiative package of measures was adopted to stimulate the economy. Vice Chancellor Robert Habeck said it could boost Germany's growth rate by about half percent once fully implemented. It is assumed that in 2025 there will be growth again and it will be 1.1%, while in 2026 it will reach 1.6% of GDP.
What is the effect in Bulgaria of the turbulence experienced by one of the engines of the European economy?
Germany is a key trade partner of this country, as the annual exchange of goods has been growing and reaches 12 billion euros.
The Head of the Economic Section at the German Embassy in Sofia, Moritz Seiler, told us more about the advantages that German investors find in Bulgaria compared to our neighbours in the Balkans:
Publication in English: Al. Markov
Photos: BTA, Pixabay, BGNES
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..
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..
+359 2 9336 661