Economy of Bulgaria
Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook, signaling confidence in the country's economic trajectory.
Bulgaria's Road to Eurozone Stalled: Political Crisis Inflicts Billion-Lev Blow
As Bulgaria grapples with a deepening political crisis and the looming specter of early elections, the economic ramifications are starkly evident. A recent economic forecast from the Italian financial group "Unicredit" sheds light on the dire consequences, estimating that the turmoil will cost the Bulgarian economy a staggering BGN 1 billion.
World Bank Warns: Bulgaria's Eurozone Accession at Risk!
Bulgaria's aspirations to join the Eurozone in 2025 face significant hurdles as economic slowdown and political uncertainty pose formidable challenges, according to a recent analysis by the World Bank.
Escaping the Stigma: Bulgaria's Bid to Shed Its 'Poorest' EU Status
Bulgaria is on the brink of shedding its label as the "poorest" country in the European Union, with recent data revealing a promising trajectory towards economic convergence. Amidst discussions about Bulgaria's economic status within the EU, a closer examination of key indicators suggests a notable shift in the country's positioning.
Bulgaria Spends 1.87% of GDP on Defense, NATO Report Reveals
Bulgaria's defense expenditure for the year 2023 amounted to $1.9 billion (3.47 billion BGN), representing 1.87 percent of its Gross Domestic Product (GDP), as detailed in the annual report released by NATO Secretary General Jens Stoltenberg. This disclosure occurred during a press conference held at NATO headquarters in Brussels earlier today.
Bulgaria's Economy Grows by 1.8% in 2023
The National Statistical Institute (NSI) has released preliminary data revealing that Bulgaria's gross domestic product (GDP) experienced a modest growth of 1.8% in real terms in 2023. This expansion marks a slowdown compared to the 3.9% growth recorded in the previous year, according to aggregated quarterly data.
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Bulgaria and EU Witness Retail Sales Surge in January
Recent data from Eurostat reveals a slight uptick in retail sales across the Eurozone and the European Union in January 2024, marking a recovery from the previous month's decline.
Bulgaria's Economic Growth Slows Down In The Last Quarter Of 2023
According to the express estimates of the National Statistical Institute, during the fourth quarter of 2023, the gross domestic product (GDP) increased by 1.6% compared to the same period of the previous year and by 0.5% compared to the third quarter of 2023, based on seasonally adjusted data.
Youth Unemployment Rises in Bulgaria
According to a report, released by Eurostat, Bulgaria's unemployment rate in December 2023 remained static at 4.3%, a marginal increase from the 4% reported in December 2022. Approximately 130,000 people were registered as unemployed during the period.
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Bulgaria's Economy Shows Moderate Growth in Third Quarter Amid Sector Shifts
In the third quarter of 2023, the Bulgarian economy experienced a 0.4% growth compared to the preceding quarter, maintaining a similar growth pattern seen earlier. Announced by the National Statistical Institute (NSI), the economic expansion, measuring 1.8% annually, remains consistent with the previously estimated 1.7%, showing a slight decline from the 2.0% growth in the second quarter.