Bulgaria’s real GDP is projected to contract by 7.2% in 2020 largely due to the adverse impact of measures taken to contain the spread of Covid-19 pandemic. In 2021, growth is forecast to rebound to around 6%, partially offsetting the decline in 2020, the European Commission forecasts. The economy in the whole EU will contract by 7.5% this year. The strength of Bulgaria’s economy and the positive external and fiscal balances before the outbreak of Covid-19 pandemic should help this country recover from the large economic shock, the spring forecast of the Commission further reads.
In February, the Commission forecasted that Bulgaria’s economy would increase with 2.9%. A rebound in economic activity is expected in the second half of 2020 with the gradual lifting of confinement measures. Domestic demand is projected to strengthen already in the third trimester and should continue growing in the fourth quarter of 2020, the analysis reads.
On Monday there will be snow showers or a mix of rain and snow in many places. The precipitation will decrease and stop, and the clouds will clear in the evening. The minimum temperature will be minus 3°C, around minus 1°C in Sofia, and the maximum will..
After a fire destroyed the roof of the historic National High School of Applied Arts in Tryavna on Friday morning, students are taking a week-long emergency break. With the help of the fire brigade, civil protection teams and local businesses, the..
The large-scale inspection, carried out by the competent police structures of the National Police Directorate and the regional directorates of the Interior Ministry, will continue next week to get the full picture - where, what and how many are the..
Unemployment in Bulgaria is below 4 per cent , according to NSI data for March quoted and summarised by BNT. Last month also saw an 8% increase..
On the occasion of World Health Day (April 7), Bulgaria’s Premier Rosen Zhelyazkov expressed his deep appreciation and respect for doctors and..
The path to the economic prosperity of the Roma people goes through cultural legitimacy, says Ognyan Isaev, director of the Educational Opportunities..
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