Annual average inflation of 11.9% is the government's forecast in the July 1 budget update. The draft is on the finance ministry's website and proposes the government's borrowing limit to be raised to €5bn.
The unfavorable prospects for the budget will severely hamper Bulgaria's accession to the Eurozone in 2024, according to the Annual Report on Economic Development in the country by the Economic Research Institute at the Bulgarian Academy of Sciences .
If the war in Ukraine continues, stagflation is a possible scenario for the Bulgarian economy in 2022 because higher energy prices make exports more expensive and uncompetitive as foreign markets shrink, the report says.
Plovdiv will offer concerts, bazaars and an ice park for the Christmas and New Year holidays to its citizens and guests, the municipality has announced. Mayor Kostadin Dimitrov will light the Christmas tree in front of the Plovdiv Municipality..
On Thursday, minimum temperatures will range from 3° to 19°C, with eastern areas reaching 15–19°C and Sofia around 6°C. The day will be cloudy with widespread rain. Heavy rainfall is expected in western regions overnight and in central and southern..
“Solutions for achieving peace in Ukraine must be based on fundamental principles of the UN Charter, such as sovereignty, independence and territorial integrity.” This was stated by Bulgarian Foreign Minister Georg Georgiev at the informal video..
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