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

The World Bank warns Bulgaria of possible slowdown in its economic growth

Photo: BGNES

A World Bank report on public finances in Bulgaria points out the need to improve VAT collection. It also states that greater efficiency is needed in public procurement, spending on education and helping the vulnerable groups. 

According to the authors of the report, if measures were not taken now, in the long term the potential for economic growth would be severely limited. As an example, the still differentiated VAT rates, especially in the restaurant industry, the inefficient spending on education and public procurement are pointed out. It is for this reason that “if the necessary reforms are not undertaken now, growth could slow to around 1.25% by 2050." According to Deputy Minister Georgi Klisurski, in order to accelerate growth, the ministry will rely heavily on investments. Therefore, negotiations with foreign investors are conducted daily.



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

Христо Стоичков

Bulgarian football icon Stoichkov heads to Moldova for Youth Sports Initiative

Bulgarian football legend Hristo Stoichkov will pay his first official visit to Moldova from 15 to 17 April, reports BTA.  He arrives as an ambassador for FIFA's Football for Schools programme , which aims to develop youth sport. His programme..

published on 4/15/25 7:35 AM

Bulgaria signs agreement for oil and gas exploration in the Khan Tervel block in the Black Sea

A contract for the search and exploration of oil and natural gas deposits in the Khan Tervel Block 1-26, located in Bulgaria's exclusive economic zone in the Black Sea, will be signed at an official ceremony in Sofia today. The agreement will be..

published on 4/15/25 6:55 AM

Ahmed Dogan admits there are serious problems in the collective body of his DPS

"In recent years, the collective body of the DPS has had serious problems - as a collective way of life, as a way of making decisions, as a relationship with living people, living voters, with the relevant serious problems and the..

published on 4/14/25 8:20 PM