In 2020, Bulgaria's real GDP decreased by 4.4%. This was due to the negative net exports and to a lesser extent to a decline in private investment, the latest macroeconomic forecast of the Bulgarian National Bank reads.
In the previous forecast made in September last year, the country’s GDP was expected to decline by 5.5%. Economic activity is expected to grow by 3.7% in 2021 and by 3.6% in 2022, reaching pre-pandemic levels in 2022, BNB forecasts. The GDP growth in 2021 should come from an increase in net exports, investment in fixed capital and private consumption. Annual inflation for 2020 stands at 0.3% compared to 3.1% at the end of 2019.
Japan's Sumitomo Electric Bordnetze plans to cease operations at one of its factories in Bulgaria, located in Mezdra, by 2025. Its second factory in Karnobat will continue to operate at reduced capacity, BTA reported. The decision comes as the company..
State-owned dairy company LB Bulgaricum will start modernising its production facility in Vidin in September. The first step will be to renovate the refrigeration units and repave the alleys leading to the workshops and the car park in..
The Minister of Innovation and Growth, Rosen Karadimov, has not given up on the idea of the Bulgarian Development Bank (BDB) granting preferential loans to those working in the public sector. In an interview with BNT, he said that..
Bulgaria has today received its first delivery of natural gas from the new Alexandroupolis terminal in Greece. The facility has been in commercial..
On October 4, 1974, the construction of the Hemus Motorway from Sofia to Varna started. Back then, the chairman of the State Council and..
2024 is the best year since tourism statistics have been in existence – revenues, accommodation, number of tourists and tourist registrations, number of..
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