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.
Bulgaria and Romania will be fully admitted to the Schengen area, said Walter Ruck, President of the Vienna Chamber of Commerce and Industry said during a meeting with Bulgarian Vice President Iliana Iotova in Vienna. Austrian businesses have always..
Bulgarian National Bank (BNB) Governor Dimitar Radev has met with EU ambassadors and discussed the country's upcoming accession to the eurozone , the BNB announced. The meeting was held in Sofia at the invitation of Hungarian..
With a growth of 2.2 percent, Bulgaria is among the top 6 countries in the EU, Caretaker Minister of Economy Petko Nikolov reported during the ceremony of presenting the annual awards of the Bulgarian Chamber of Commerce and Industry..
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