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
Bulgaria has favorable climatic conditions for producing electricity from the su n, even in the transitional seasons of spring and autumn. One of the cities with the best conditions for using photovoltaic systems is Dupnitsa. The southwestern..
In 2024, the average gross annual salary in Bulgaria is 27,881 BGN (EUR 14,255), according to preliminary data from the National Statistical Institute. Compared to 2023, this marks an increase of 13.9% , with the public sector seeing an increase of..
The Bulgarian National Bank (BNB) has posted, to its website, the answers to important questions connected with the adoption of the euro and the country’s entry into the Eurozone. The official BGN to Euro exchange rate is fixed, with the Lev..
Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for..
Cooperation between Bulgaria and China in the field of agriculture and food is very active and is constantly expanding. This was stated at a meeting in..
Clear