According to the National Statistical Institute inflation in Bulgaria is 14.4%, but the market basket of consumer goods includes a number of optional goods that nobody consumes. In fact, if the consumer price index is taken into account, inflation in our country already exceeds 25%.

In an interview with BNR, macroeconomist Prof. Dimitar Ivanov pointed out that the Ministry of Finance has yet to analyze in depth the scale of its errors, in terms of the soaring inflation and the strategy needed to tackle it.

In the words of Prof. Ivanov, inflation - at 11-12% - is likely to continue for several years and will reach two scenarios - either stagflation due to rising interest rates around the world, or it will enter a recession, for a period that will surely last until 2025 and possibly beyond.

According to the macroeconomist, Bulgaria is in political and economic turmoil. This crisis is worse than the financial crisis of 1996-1997, when the problems were only in the economy, Ivanov says.

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To top it off, there is the war which has cast its impact over the whole world and might take on even greater proportions, Professor Ivanov stresses.