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

EU maintains Covid-19 economic forecast for Bulgaria

Photo: Archive

Bulgaria's GDP in 2020 will shrink by 7.1%, and in 2021 will return to a growth of 5.3 percent, according to the summer economic forecast of the European Commission. In May, Brussels forecast a decline in the Bulgarian economy of 7.2% for 2020 and growth of 6% for 2021. 

Despite the good economic performance at the beginning of the year, the Covid-19 pandemic had a negative impact on the economy, the European Commission notes in relation to Bulgaria. It points to declining private consumption due to the restrictive measures, while reduced revenues, lower capacity utilization and greater uncertainty are limiting investment. 
Exports are also affected by the deteriorating situation abroad, with a revival expected in the second half of 2021.



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

The 15% tariffs will reduce Bulgarian exports to the US by 1/3 and national GDP by 0.35%

The expected decline in Bulgarian exports to the US due to the new tariffs is about 32.8%. This is 1.5 percent of the country's total exports, says Deputy Minister of Economy and Industry Doncho Barbalov. The decline in Bulgarian GDP in 2025 due to the..

published on 8/8/25 10:38 AM

Rheinmetall to build gunpowder and projectile factory together with VMZ-Sopot

The largest arms manufacturer in Europe - Rheinmetall, will make 155 mm projectiles in Bulgaria. This is clear from the transcript of a government meeting. The investment in the state-owned armament factory VMZ-Sopot will be with a Bulgarian..

published on 8/8/25 10:28 AM

Burgas residents and guests will watch an air show to the sounds of hits from the 90s

An impressive air show accompanies the festival of hits from the 90s SPICE Music. It is performed for the first time within the framework of this year's edition, on the occasion of the 20th anniversary of the establishment of the..

published on 8/8/25 7:00 AM