The unemployment rate in Bulgaria is expected to jump to 7% in 2020, after having reached historic lows of 4.2% in 2019, the economic forecast of the European Commission shows. Job losses are set to be most pronounced in the services sector (retail trade, transport, hospitality industry) which will function at up to 40% of their full capacity. In 2021 a partial recovery in employment is expected and unemployment rate is expected to decrease to 5.8%.
Commissioner for Economy Paolo Gentiloni expects that Bulgaria’s budget deficit will be below 6% of the GDP. Bulgaria’s consumer price inflation is expected to fall from 2.5% in 2019 to 1.1% in 2020 and stay at that level in 2021. General government debt is expected to increase and reach 25.5% of the GDP in both 2020 and 2021.
The Vienna Ball in Sofia was opened by the authentic orchestra of Johann Strauss, with which the organizers of the secular event paid tribute to the 200th anniversary of the birth of the Waltz King . The ball, which is under the patronage of the mayors..
A 7-hour blockade of the Gazela Bridge in Belgrade has been announced from 11:00 to 18:00 on Sunday, February 9, the Ministry of Foreign Affairs informed. The bridge is part of the international road E-75. The Bulgarian authorities recommend that..
The demographic crisis is one of the biggest problems in Bulgaria and its solution depends on whether the country will continue to grow economically in order to reach an equal standard with the rest of EU member states . The only possible solution for..
On Saturday , the lowest temperatures will be between minus 8 and minus 3°C; in Sofia - around minus 8°C. During the day, sunny..
The idea of a price ceiling for basic food products has not yet been discussed with the partners in the ruling coalition. According..
During an operation by the General Directorate Combating Organized Crime on February 6, three Bulgarians were arrested for..
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