In 2020, Bulgaria's real GDP decreased by 4.4%. This was due to the negative net exports and to a lesser extent to a decline in private investment, the latest macroeconomic forecast of the Bulgarian National Bank reads.
In the previous forecast made in September last year, the country’s GDP was expected to decline by 5.5%. Economic activity is expected to grow by 3.7% in 2021 and by 3.6% in 2022, reaching pre-pandemic levels in 2022, BNB forecasts. The GDP growth in 2021 should come from an increase in net exports, investment in fixed capital and private consumption. Annual inflation for 2020 stands at 0.3% compared to 3.1% at the end of 2019.
41% of the member companies of the Bulgarian Industrial Association expect an economic decline in 2025. 21% believe there will be no change compared to 2024. 65% of the respondents anticipate a deterioration in their own business due to the..
The price of electricity for households could increase by nearly 9% starting next year, according to estimates by the Energy and Water Regulatory Commission. This means that with an average consumption of nearly 400 kilowatt-hours, the monthly bills..
The leadership of the Confederation of Independent Trade Unions in Bulgaria (CITUB) insists that a national subsistence wage be introduced in Bulgaria, with the minimum wage in the country reaching at least 80% of the subsistence wage by 2027. According..
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