Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

The European Commission predicts slowdown in Bulgaria's economic growth

Photo: Archive

Economic growth in Bulgaria is expected to slow down in 2023, according to the autumn economic forecast of the European Commission.

After the good performance in 2022, exports will shrink this year due to reduced external demand. The imports for 2023 will also shrink sharply after their significant increase a year ago. The forecast foresees a temporary stagnation of domestic consumption at the end of this year and the beginning of 2024, after which moderate growth is expected. 

Inflation is expected to slow down further, albeit at a slower pace. 

GDP growth is likely to be 2 percent in 2023. Output growth is expected to slow to 1.8 percent in 2024 and reach 2.6 percent in 2025. 

After the deficit dropped to 2.9 % of the country's GDP in 2022, it is expected to rise slightly to 3% in 2023.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

One out of 6.5 million Bulgarians are inactive

Regional policies are needed to address imbalances in employment and economic activity levels in different regions of Bulgaria, taking into account the specificities of each region. This is the recommendation of the Council for Economic Analysis study..

published on 5/20/24 3:08 PM

The total expenditure per household member in Q1 of 2024 averages EUR 1,290

The total average income per household member in the first quarter of 2024 is BGN 2,840 (EUR 1,452.07), which was an increase of 18.6%, year-on-year, the National Statistical Institute said. Wage income increased from BGN 1,284 (EUR 656.5) to BGN 1,597..

published on 5/17/24 2:46 PM
Smilen Valov

Over 1 million is the number of inactive persons on the Bulgarian labor market

There are over one million inactive persons on the Bulgarian labour market. They don't study, don't work and are not registered with the labour offices. This "army" has huge untapped potential, National Employment Agency Director Smilen Valov said...

published on 5/16/24 8:49 AM