Following the approval of the 2023 draft budget, the caretaker cabinet decided to table it to the National Assembly. According to the draft budget, the budget deficit for 2023 is set at 6.4% of the country’s gross domestic product.
According to the macroeconomic forecast of the finance ministry, the GDP growth in 2023 will slow down to 1.8%, and this will be in line with consumption, exports and inventory changes. GDP growth is projected to accelerate to 3.3% in 2024. At EUR 2.3 billion, the minimum fiscal reserve by December 31, 2023 is to remain unchanged from the amount set in the 2022 State Budget Act. The debt-to-GDP ratio is expected to increase to 25.3% in 2023, 29.6% in 2024 and 33% by the end of 2025.
The growth of the national economy in the second quarter of 2025 accelerated by 3.5% on an annual basis. According to an analysis by the Bulgarian National Bank - BNB, the main factors for the acceleration are the decrease in imports..
For the first time, Bulgaria’s Minister of Finance Temenuzhka Petkova took part as an observer in the regular meeting of the Eurogroup held in Luxembourg, the Ministry of Finance said. Until now, Bulgaria has only participated in Eurogroup..
Since the beginning of the current year, Bulgaria has experienced record heat waves, a series of devastating fires, and a new disaster just days ago – catastrophic floods that claimed human lives . Climate change already has its price – and it is..
With the introduction of the euro on January 1, Bulgaria will benefit from the stability, liquidity and all the advantages of the common currency,..
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