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Geopolitical uncertainty and reduced international demand are shrinking GDP

The real growth of the gross domestic product (GDP) in Bulgaria for 2023 will be 1.8% compared to 3.9% in 2022 . The growth is mainly determined by an increase in private consumption and positive net exports. The change in inventories has a significant..

26.01.24 12:01 |

The European Commission predicts slowdown in Bulgaria's economic growth

Economic growth in Bulgaria is expected to slow down in 2023 , according to the autumn economic forecast of the European Commission. After the good performance in 2022, exports will shrink this year due to reduced external demand. The imports for..

15.11.23 14:09 |

NSI: Bulgaria's GDP grew by 1.7% in the third quarter

The country's gross domestic product growth slowed on an annual basis in the third quarter of 2023 , while the quarterly growth rate was maintained, data from the National Statistical Institute showed.  In the third quarter, GDP grew by 1.7%..

14.11.23 15:50 |

Finance Minister: Budget 2023 is feasible, does not cut social expenditure

The 2023 state budget does not tighten belts and does not cut social costs, Bulgaria’s Minister of Finance Assen Vassilev said for the BNR. We manage to collect taxes and maintain social spending without raising taxes. We inherited from the..

16.07.23 13:27 |
Bulgaria's Defense Minister Todor Tagarev

Minister Todor Tagarev to present Bulgaria's defense priorities

Today Bulgaria’s Minister of Defence Todor Tagarev is to present his team and his priorities. At the Meeting of NATO Defence Ministers in Brussels earlier this month, Todor Tagarev stressed that 2% of GDP defense spending should be..

27.06.23 05:05 |

Businesses, trade unions and what they are expecting of the new government of Bulgaria

The National Assembly unanimously approved, at first reading, a decision to extend the deadline for collecting revenue, and making payments and transfers from the state budget until a budget for 2023 is adopted. The definitive decision on the state..

09.06.23 13:53 |

NSI: Bulgaria's GDP up 2% in the first quarter of 2023, inflation goes down

Inflation in Bulgaria in April has gone down to 0.3% compared to March and to 11.6% compared to the same month last year, the National Statistical Institute said. Year-to-date inflation (January 2023-April 2023) is 3% and the average annual..

16.05.23 14:45 |

The caretaker cabinet’s draft budget will lead to an excessive deficit procedure, the Fiscal Council says

The draft budget, with a deficit of 6.4%, contradicts the Public Finance Act. Caretaker cabinet approves 2023 draft budget In a Fiscal Council position sent to parliament, experts recommend measures for restricting the deficit in the..

28.04.23 18:05 |

Caretaker cabinet approves 2023 draft budget

Following the approval of the 2023 draft budget, the caretaker cabinet decided to table it to the National Assembly. According to the draft budget, the budget deficit for 2023 is set at 6.4% of the country’s gross domestic product.  According to..

28.04.23 14:47 |

Caretaker cabinet proposes a 2023 state budget with a 6.4% deficit

The caretaker government is proposing a state budget bill for 2023 with a deficit of 6.4% of the GDP, or more than twice the 3% required by the Eurozone criteria . This was announced at a briefing by Prime Minister Galab Donev and Finance Minister..

21.04.23 19:10 |
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