The German economy has been shrinking and the government expects a decline of 0.2% of GDP. Some of the main reasons for this include unresolved structural problems related to lack of energy security, excessive bureaucracy and shortage of skilled workers, as well as geopolitical uncertainty. In July, an additional Growth Initiative package of measures was adopted to stimulate the economy. Vice Chancellor Robert Habeck said it could boost Germany's growth rate by about half percent once fully implemented. It is assumed that in 2025 there will be growth again and it will be 1.1%, while in 2026 it will reach 1.6% of GDP.
What is the effect in Bulgaria of the turbulence experienced by one of the engines of the European economy?
Germany is a key trade partner of this country, as the annual exchange of goods has been growing and reaches 12 billion euros.
The Head of the Economic Section at the German Embassy in Sofia, Moritz Seiler, told us more about the advantages that German investors find in Bulgaria compared to our neighbours in the Balkans:
Publication in English: Al. Markov
Photos: BTA, Pixabay, BGNES
The likelihood of Bulgaria joining the eurozone on 1 January 2026 is growing by the day. The country would become the 21st EU member to adopt the single currency. The signals are coming both from the Bulgarian government, which has repeatedly stated..
The Bulgarian National Bank (BNB) has again reduced the key interest rate in the country . As of May 1, it will now be 2.24 percent. The decrease compared to April is 0.15%, when it was 2.39 percent. This is the eighth consecutive month of a decrease in..
An analysis by the Ministry of Economy and Industry shows that in 2024, Bulgaria's trade with the United States accounted for 1.7% of the country’s total trade volume, with exports to the U.S. making up 2.6% of total exports and imports from the U.S...
The liberalization of the electricity market for household consumers and their entering the free electricity market, something companies did years..
Bulgaria's main trading partners are Germany, Romania, Italy, Greece and France, which account for 62.5% of exports to EU Member..
sunshine, cloud, rain and thunder
Partly cloudy, chance of rain
Partly Cloudy
Mostly Cloudy