Text size

The European Commission predicts slowdown in Bulgaria's economic growth

published on 11/15/23 2:09 PM

Photo: Archive

Economic growth in Bulgaria is expected to slow down in 2023, according to the autumn economic forecast of the European Commission.

After the good performance in 2022, exports will shrink this year due to reduced external demand. The imports for 2023 will also shrink sharply after their significant increase a year ago. The forecast foresees a temporary stagnation of domestic consumption at the end of this year and the beginning of 2024, after which moderate growth is expected.

Inflation is expected to slow down further, albeit at a slower pace.

GDP growth is likely to be 2 percent in 2023. Output growth is expected to slow to 1.8 percent in 2024 and reach 2.6 percent in 2025.

After the deficit dropped to 2.9 % of the country's GDP in 2022, it is expected to rise slightly to 3% in 2023.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy economic growth export exports GDP import imports inflation

More from category

Over 1 million is the number of inactive persons on the Bulgarian labor market

There are over one million inactive persons on the Bulgarian labour market. They don't study, don't work and are not registered with the labour offices. This "army" has huge untapped potential, National Employment Agency Director Smilen Valov said...

published on 5/16/24 8:49 AM

EC: Inflation in Bulgaria is expected to be 3.1% in 2024

According to the European Commission's spring economic forecast for this year, inflation in Bulgaria is expected to reach 3.1 % in 2024 and 2.6 % in 2025 . The anticipated downtrend in external prices is expected to limit inflation in both energy and..

published on 5/15/24 3:13 PM

BNB: Deposits up to BGN 1,000 most common, number of millionaires growing

In March 2024, 1,518 people in Bulgaria had deposits of more than BGN 1 million, while in March 2023, 1,277 Bulgarians had such deposits, according to the latest BNB data. Deposits between BGN 200 thousand and BGN 500 thousand grew the most..

published on 5/14/24 3:56 PM