The European Bank for Reconstruction and Development has lowered its forecast for Bulgaria’s GDP growth, because of the war in Ukraine. EBRD expects that Bulgaria’s gross domestic product will rise 2.8% in 2022, a downward revision of the 4.4% growth forecast made in November last year.
In 2023, EBRD projects the country’s GDP to increase with 3.6%. In 2021, Bulgaria’s economy grew 4.2%.
EBRD expects a slowdown in foreign direct investments in countries like Bulgaria and Romania, because of their proximity to Ukraine and particularly in the context of a militarization of the Black Sea, the report further reads.
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
Bilateral relations between Bulgaria and Argentina have received a new impetus for development following the visit of an Argentine delegation from the Chaco province to Bulgaria at the beginning of November . High-ranking officials from the..
Employers are contesting the rise of the minimum wage. The Bulgarian Industrial Capital Association announced that they filed a complaint in the Supreme Administrative Court. About 430,000 people in the country work for minimum wage...
The draft budget for 2025 proposes a deficit of 3%. The mid-term budgetary forecast targets a deficit of 3% up until 2028. The government debt is to..
The Bulgarian-Moldovan Chamber of Commerce and Industry held a meeting with leading specialists from the energy sector of Bulgaria and Moldova. The..
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