Bulgaria’s gross domestic product will grow by 4.5% this year and by 4% in 2022, stronger than previously expected, indicates the June forecast of the European Bank for Reconstruction and Development, reported BGNES. In 2020, which was marked by the coronavirus pandemic, this country’s economy contracted by 4.2%. In the previous issue of the report in October last year, EBRD projected that Bulgaria’s GDP would grow by 3% in 2021.
In 2020, the Bulgarian economy contracted due to the weak performance of exports and investments, which decreased by 11.3% and 5.1%, respectively. Meanwhile, Bulgaria reports good levels of domestic consumption, unlike other countries in the region. This is mainly due to the milder containment measures and robust wage growth throughout the year.
The Romanian National Company for Road Infrastructure Administration (CNAIR) has announced a tender for a feasibility study for the construction of a new bridge over the Danube River between Giurgiu in Romania and Ruse in Bulgaria, reports..
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..
Bulgaria has today received its first delivery of natural gas from the new Alexandroupolis terminal in Greece. The facility has been in commercial..
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