Following the approval of the 2023 draft budget, the caretaker cabinet decided to table it to the National Assembly. According to the draft budget, the budget deficit for 2023 is set at 6.4% of the country’s gross domestic product.
According to the macroeconomic forecast of the finance ministry, the GDP growth in 2023 will slow down to 1.8%, and this will be in line with consumption, exports and inventory changes. GDP growth is projected to accelerate to 3.3% in 2024. At EUR 2.3 billion, the minimum fiscal reserve by December 31, 2023 is to remain unchanged from the amount set in the 2022 State Budget Act. The debt-to-GDP ratio is expected to increase to 25.3% in 2023, 29.6% in 2024 and 33% by the end of 2025.
“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are the motors which can boost the economy, but the fact there is no regular government is an obstacle..
Bulgargaz has reported record interest in its tender for the supply of LNG to the Alexandroupolis terminal for January and February 2025. All nineteen bidders met the criteria set by the company and have been approved to participate in the next..
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
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