The International Monetary Fund (IMF) has raised the forecast for Bulgaria’s economy growth in 2023, according to the institution's autumn report. In 2023, the Bulgarian GDP will be 1.7%, which is 0.3 percent more in comparison to estimates in the spring report. For 2024, the IMF expects the country's GDP to grow by 3.2 percent, instead of the 3.5 percent forecast in April. The inflation forecast is high. In 2023, it is expected hat inflation would reach 8.5 percent, as the forecast in the spring was 7.5 percent.
Bulgarian business is pessimistic about the prospects in 2024. A survey of the Bulgarian Industrial Capital Association among its members indicates that 80% expect sales to decrease or remain at the level of 2023. 43% expect lower financial income and just 25% are optimistic about better profits and are planning bigger investments. 4/5 of the surveyed entrepreneurs expect exports to decline or remain unchanged.
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...
If the political crisis continues, the lost benefits will reach a threshold after which the Bulgarian business will begin to lose competitiveness due to growing deficits in education, healthcare, infrastructure, regional development and demographics...
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