Economy of Bulgaria

World Bank: Bulgaria's Economy will slow down due to War, Inflation and COVID-19

Almost a third slower - compared to the forecast from January - will be the growth of the Bulgarian economy in 2022 due to the war in Ukraine and the risks of prolonged military conflict, point to further adjustments to downward growth. Instead of 3.8% of GDP, the new expectations are for 2.6%, i.e. adjustment for growth contraction of 1.2 percentage points.

Bulgarian Finance Minister: There is Increased Interest from Foreign Investors

During the debates in the parliament at the first reading on the draft budget yesterday, the Minister of Finance Asen Vassilev announced that at the moment there is increased interest from foreign investors and they only asked if the government will racketeer them and impute any subcontractors.

European Commission Expects more than a Double Jump in Inflation in Bulgaria

Inflation in Bulgaria will more than double compared to 2021. From 2.8 percent it will become 6.3%.

This is according to the European Commission's winter economic forecast announced today.

In the inflation table for this year, a higher percentage of our country is projected only for Poland (6.8), Lithuania (6.7) and Slovakia (6.4). Poland is outside the Eurozone.

World Bank Raises Growth Forecast for Bulgaria

The World Bank has raised its forecast for the development of the Bulgarian economy in 2021. Bulgaria's annual GDP is expected to grow by 3.7%. The previous forecast was for growth at the end of 2021 by 2.6%. But the bank emphasizes that the country's return to pre-crisis indicators will take place only in 2022. The expected annual inflation of 3.2% is unchanged.

Bulgaria: Manufactured Goods Shot up 18% in August

In August 2021, production prices in Bulgaria increased by 3% compared to the previous month and recorded a record growth on an annual basis of nearly 18% as a result of a sharp jump in energy prices, according to data from the National Statistical Institute, quoted by BNR. They are also evidence of a continued rise in inflation in the coming months.

Bulgaria Ranks 36th in Frasers's 2021 Economic Freedom of the World Annual Report

Bulgaria ranks 36th among 165 countries and territories in Frasers's 2021 Economic Freedom of the World Annual Report, losing four positions from last year, said Tuesday the Institute for Market Economics (IME) which is the local partner of Fraser Institute.
A year earlier Bulgaria was 32nd in the ranking.

Bulgarians Most Willing to Invest in Local Real Property

The Covid-19 crisis has affected all business spheres. However, according to data of Bulgarian real estate agents, demand and sales of housing properties have gone up, especially in the big cities. In their view, this is due to several reasons, but the latest increase in property sales is mainly due to the return of confidence towards Bulgaria's property market.

Bulgaria's Total Exports Increase by 19%, Imports by 23%

In the period January - May 2021, goods worth a total of BGN 26,355.3m were exported from Bulgaria, which is 19.4% more than in the same period of 2020, according to preliminary data from the National Statistical Institute. In May 2021 the total exports of goods amounted to BGN 5,084.7m and increased by 32.3% compared to the same month of the previous year.

Eurostat: Unemployment in Bulgaria Plunged to 4.7 Percent in April

Unemployment in Bulgaria in April 2021 was 4.7 per cent, down from 5.1 per cent a month earlier and from 5.9 per cent in April 2020, European Union statistics agency Eurostat said on June 1, citing seasonally-adjusted data.

According to Eurostat, the April 2021 figure represents an estimated 154 000 people in Bulgaria, compared with 169 000 in March 2021 and 192 000 in April 2020.

Pages