Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Geopolitical uncertainty and reduced international demand are shrinking GDP

Photo: Archive

The real growth of the gross domestic product (GDP) in Bulgaria for 2023 will be 1.8% compared to 3.9% in 2022. The growth is mainly determined by an increase in private consumption and positive net exports. The change in inventories has a significant negative impact on economic activity. These are the expectations of the analysts from the Bulgarian National Bank (BNB), recorded in the latest quarterly publication "Macroeconomic Forecast".

Compared to the November forecast, the BNB expects a lower GDP growth in 2024 and 2025. At the time, the BNB expected Bulgaria's economic growth to be 1.9% in 2023, 2.7% in 2024, and 2025 – 3.6%. 

Due to geopolitical uncertainty and an expected contraction in demand for Bulgarian goods and services, the January forecast is for GDP to grow to 2.5% in 2023 and to 3.4% in 2025.



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

Ruslan Stefanov and Elenko Bozhkov

The proceeds from the sale of Lukoil Neftohim should be frozen, experts say

It is extremely concerning that the largest company in Bulgaria, Lukoil Neftohim, which is part of the country's critical infrastructure, is still in the hands of a country that has declared Bulgaria a hostile state. This opinion was shared by energy..

published on 2/2/25 11:58 AM
Lyubomir Karimansky

The financial system in Bulgaria is stable, Lyubomir Karimansky says

“The divergence between the monetary and the fiscal policy pursued by the government continues to be the main reason why Bulgaria does not meet all criteria yet for entering the Eurozone,” Lyubomir Karimansky, member of the Governing Council of the..

published on 2/1/25 2:59 PM

Germany remains Bulgaria's largest foreign trade partner

Germany remains Bulgaria's strongest economic partner. Trade between the two countries for 2024 amounts to EUR 12 billion, said Tim Kurth, President of the German-Bulgarian Chamber of Industry and Commerce.  At a ceremony held at the University of..

published on 1/31/25 9:32 AM