Economy of Bulgaria

The European Commission's latest autumn economic forecast reveals Bulgaria's anticipated economic slowdown in 2023 and 2024, followed by a predicted rebound in 2025. Projections indicate a decrease in imports and exports alongside steady household consumption levels, set to rise gradually in the coming months of 2024.

The European economy witnessed a troubling slowdown in the third quarter, with the eurozone facing a 0.1% contraction and the wider EU stagnating, revealed a preliminary report by Eurostat.

The budget deficit in the "State Government" institutional sector for 2022 is 4,859,000,000 leva, NSI reports. This is 2.9% of GDP.

Bulgarian exports continue to grow and in 2022 reached 50.25 billion dollars, or 21% more than in 2021, when it was 41.9 billion dollars. This is stated in an analysis of the Bulgarian Chamber of Commerce.

Bulgaria climbed to 57th place in the world in terms of exports from 59th place a year earlier. In the EU, the country retains 20th place - both for 2021 and 2022.

Output in the construction sector of the EU, and in particular the Eurozone, rose steadily for the second month in a row since the start of 2023, while construction in Bulgaria fell, erasing a weak increase in January, Eurostat data showed.

Bulgaria's economy will grow by 1.4 percent this year, after 3.4 percent growth in 2022. This is stated in the spring forecast of the International Monetary Fund, whose managing director is Kristalina Georgieva. From there, they expect inflation in our country to decrease to 7.5 percent in 2023 after the growth of 13% on an average harmonized basis for 2022.

Producer prices in the EU fell in February for the second month in a row since the beginning of the year, with the biggest drop on a monthly basis recorded by producer prices in Bulgaria, according to data from European official statistics. Meanwhile, annualized manufacturing inflation continued to ease in February from peaks reached in August 2022.

The economy of Bulgaria has grown by 3.4% in 2022. This is shown by the preliminary data of the National Statistical Institute (NSI). The expectations of the European Commission and the IMF were for a growth of 3.9%, but the statistics are subject to correction over time.

The locomotive of the fast train from Varna to Sofia caught fire in motion at around 11 a.m. today. This was told by passengers traveling in the ill-fated train.

The fire broke out after the departure from Mezdra station to Cherepish. The passengers were the first to notice it and alert the drivers. All passengers, about 50 people, were evacuated and there were no injuries.

Bulgaria's interim government will likely seek financial help from the EU to cover the costs of floods that have hit the centre of the country