Text size

EU maintains Covid-19 economic forecast for Bulgaria

published on 7/7/20 2:05 PM

Photo: Archive

Bulgaria's GDP in 2020 will shrink by 7.1%, and in 2021 will return to a growth of 5.3 percent, according to the summer economic forecast of the European Commission. In May, Brussels forecast a decline in the Bulgarian economy of 7.2% for 2020 and growth of 6% for 2021.

Despite the good economic performance at the beginning of the year, the Covid-19 pandemic had a negative impact on the economy, the European Commission notes in relation to Bulgaria. It points to declining private consumption due to the restrictive measures, while reduced revenues, lower capacity utilization and greater uncertainty are limiting investment.

Exports are also affected by the deteriorating situation abroad, with a revival expected in the second half of 2021.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News Covid-19 pandemic economic growth economic recovery GDP

More from category

European Commission withholds payment under recovery and resilience plan over failure to implement anti-corruption reforms

The European Commission has decided to withhold EUR 215 million from the second payment under Bulgaria’s recovery and resilience plan, the EC told the Bulgarian National Radio. The country is to receive EUR 439 million. EU may cut money for..

published on 11/5/25 4:39 PM

Parliament sets up ad-hoc committee to investigate Soros’ activities in Bulgaria

With 111 votes for, 51 against and 43 abstained, the National Assembly approved the establishment of an ad-hoc committee to investigate the activities of George Soros and his son Alexander Soros and their foundations in this country financing..

published on 11/5/25 3:15 PM

Representatives of businesses explaining their boycott

Businesses boycott discussion of budget 2026, describe it as “leftist”

Prime Minister Rosen Zhelyazkov and Deputy Prime Minister Tomislav Donchev cancelled the meeting, scheduled for today, of the National Tripartite Council on the draft budget for 2006 after, in an unprecedented move, businesses decided not to take..

published on 11/5/25 2:46 PM