All News on Economics in Bulgaria

CITUB Calls on State Authorities to Make Electricity Market More Predictable

At an extraordinary sitting of the National Council for Tripartite Cooperation employers and syndicates voiced their concern with the situation on the electricity market and the substantial increase in the price of electricity for industrial consumers, reported the Bulgarian National Radio. 

Production Prices are Jumping 6.8% in a Matter of Just One Year

The National Statistical Institute reports a robust rise in producer prices in June this year compared to the same month of 2017. The total producer price index in June increased by 6.8% on an annual basis, which is a prerequisite for accelerating consumer inflation in Bulgaria.

1/3 of Homes and Apartments in Bulgaria are Uninhabited

Nearly 1.2 million homes in Bulgaria are uninhabited. This is approximately 1/3 of the total number of homes in Bulgaria. In the capital, the "dark windows" are close to 24%, but in rural areas the percentage is far higher - up to 43, reports sega. 

Bulgaria Posted No Inflation in November

The year-on-year inflation rate of Bulgaria was 0% in November and deflation was registered since the beginning of the year, according to national statistics.

Between December 2015 and November 2016, the rate was -0.5%.

Bulgaria's Non-EU Exports 10.6% Down in Jan-Oct

Exports to third countries have shrunk by 10.6% between January and October compared to the same period of last year, national statistics show.

The amount exported for that time was BGN 11.973 B, with Turkey, Macedonia, Serbia, China, Russia and the US being the main non-EU partners for Bulgarian goods.

Bulgaria's Exports to EU Grew 6% in Jan-Sept

Bulgarian exports to the European Union increased by 6% between January and September compared to the same period of last year, national statistics show.

Exports amounted to BGN 23.0345 B in the first nine months of the year, according to preliminary data of the National Statistical Institute (NSI).

Economic Downturn Expected in Bulgaria in 2017

Political instability in Bulgaria is likely to mar optimistic forecasts for economic growth next year, said economists from the Institute for Market Economics.

 According to the latest expectations of the European Commission and the International Monetary Fund, the growth of Bulgaria's economy will be around 2.5% - 3% in 2017.

Foreign Investment in Bulgaria Amounted to EUR 1.3 B in Jan-Sept

Foreign direct investment (FDI) into Bulgaria was 21% less in the first nine months of 2016 compared to the same period of last year, central bank statistics show.

According to data from the Bulgarian National Bank (BNB), FDI for January - September 2016 amounted to EUR 1.3 B, which is 2.8% of Bulgaria's gross domestic product (GDP).

BNB: Positive Balance of Payments of EUR 417.1 M in September

In September, Bulgaria's balance of payments remained positive and marked an improvement for the first nine months of the year, showed data of the Bulgarian Central Bank (BNB).

The current and capital accounts balance of Bulgaria was positive in September and amounted to EUR 417.1 M, given a surplus of EUR 292.2 M exactly a year ago.

Bulgaria's GDP Up 3.5% in Q3, Y/Y

The gross domestic product (GDP) of Bulgaria expanded by 3.5% between July and September compared to the same period of last year, national statistics show.

The national output for the third quarter of 2016 was also 0.8% bigger compared to the previous quarter, according to seasonally adjusted data of the National Statistical Institute (NSI).

Bulgaria Ranks 57th in Legatum's Prosperity Index

In ten years, Bulgaria has climbed three positions in the Prosperity Index of the London-based Legatum Institute, but bad scores in the management, health care and personal freedom sub-indices leave the country at the bottom of the ranking among EU member-states.

Bulgaria's Gross Foreign Debt Grew 0.6% Y/Y in August

Bulgaria's gross external debt totalled EUR 34.694 B at the end of August 2016, preliminary data of the Bulgarian National Bank (BNB) shows.

The sum is the equivalent of 76.3% of Bulgaria's gross domestic product (GDP).  

This constitutes an increase of EUR 606.4 M (1.8%) compared to the end of last year, when it stood at EUR 34.088 B, or 75.3% of GDP.

Bulgaria's Trade with Third Countries Dipped in Jan-Aug

Both exports and imports of Bulgaria to third countries fell in the first eight months of this year, compared to the same period of 2015, statistics show.

Exports amounted to BGN 9.5161 B. The main trade partners included Turkey, Macedonia, Serbia, China, Russia, and the United States, accounting for 49.7% of the exports to non-EU countries.