The forecast for 2% growth of the economy is being preserved, Minister of Economy and Industry Bogdan Bogdanov said in Varna. It is expected that the level of investment interest in Bulgaria will also be kept. Of course, we take into account all the dynamics of the world markets and the fact that our key partners are entering a recession. This is one of the reasons why the country is looking for alternative markets, including ones across the ocean or in Asia, Bogdanov said.
The growth of the Bulgarian economy in 2023 was 2%, the European Commission announced in its winter economic forecast. The economy has been hit by weaker demand in foreign markets, higher interest rates in the Eurozone and high price pressures. Bulgaria's GDP will increase by 1.9% in 2024, the forecast reads. Domestic consumption is expected to be a major driver of economic growth. The European Commission forecasts that inflation in Bulgaria will decrease to 3.4 percent in 2024.
According to data from the National Statistical Institute, Bulgaria experienced a monthly inflation rate of -0.2% in May 2024 . Year-on-year inflation from May 2024 compared to December 2023 stands at 0.4%, while the average annual inflation rate for the..
The demographic crisis in this country is advancing at a rapid rate, holding back the development of businesses, but this is a tendency observed in other countries as well. Because of their good qualifications, Bulgarian workers find work in many..
The World Bank predicts a more moderate improvement in Bulgaria's economic growth in 2024 and 2025. In its latest report "Global Economic Prospects" the institution expects a slight acceleration in Bulgaria's GDP growth from 1.8% in 2023 to 2.1% in..
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