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The BNB recommends a 10% buffer in the 2024 budget

published on 11/28/23 2:26 PM

Dimitar Radev

Photo: BTA

GDP growth in Bulgaria will be 1.9% in 2023, slowing to half the 3.9% rate in 2022. Domestic demand and net exports will contribute to growth. Annual inflation will be 6.1 per cent. These are the expectations of analysts at the Bulgarian National Bank (BNB), published in the latest issue of the quarterly "Macroeconomic Forecast".

The November growth estimate has been revised upwards by 0.9 per cent compared to the previous analysis in June. GDP growth is expected to reach 2.7 per cent in 2024 and 3.6 per cent in 2025, with the November estimate revised downwards by 0.5 per cent from the June forecast. The pessimistic prognosis reflects the risks posed by global geopolitical conflicts and rising wage costs.

BNB governor Dimitar Radev recommended that the 2024 budget include a 10% buffer, which, if not spent during the year, would be spent in the last quarter of 2024.

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Radio Bulgaria Economy 2024 BNB buffer Bulgarian National Bank Dimitar Radev prognosis reccomendations

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The BNB recommends a 10% buffer in the 2024 budget

More from category

Financial Supervision Commission: The assets of private pension funds have reached EUR 13 billion

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More than EUR 1 billion to be allocated for agriculture and the development of local economies

Financial Supervision Commission: The assets of private pension funds have reached EUR 13 billion