The GDP of Bulgaria will shrink by 5.1 % in 2020, but will grow by 2% in 2021 and 3.7% in 2022, indicates the European Commission’s autumn economic forecast. In July Brussels predicted a bigger decline for the country (-7.1%), but also a higher growth rate for next year (+5.3%).
The Bulgarian economy has started to recover after the sharp decline during the second quarter, and is expected to continue to grow, according to the EC forecast. Domestic demand and exports will contribute to the growth. Unemployment is becoming stabilized after the initial steep rise, in part because of the state-funded measures for protecting jobs.
Citing data from the European Commission, Prime Minister Boyko Borissov wrote on his Facebook profile that "Bulgaria is the only country in the European Union whose deficit wоулд not exceed 3% of the country's GDP in 2020.
The ruling GERB party claimed that employers are in favour of a higher VAT rate, but employer organisations denied this, insisting that no such proposal had ever been made. This clarification followed a meeting between GERB leader Boyko Borissov..
Ninety participants representing 57 Bulgarian folklore ensembles from across Europe and North America gathered in Sofia for their fourth Creative Meeting and Seminar. The event was highly constructive, featuring useful workshops and guest lecturers...
The European Commission has disbursed €438.6 million to Bulgaria as part of the second payment under the Recovery and Resilience Facility (RRF). On 3 October 2025, the Commission partially approved the payment, stating that Bulgaria "still needs to..
The Sofia City Court has postponed the extradition case of Igor Grechushkin, the owner of a cargo ship linked to the explosion at the port of Beirut in..
The Road Infrastructure Agency (RIA) has proposed the introduction of temporary restrictions on the movement of heavy trucks weighing over 12 tons along..
Bulgaria has sufficient quantities of fuel and the 90-day reserves are secured at around 98%, Asen Asenov, Chairman of the State Reserve and Wartime..
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