Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

The World Bank warns Bulgaria of possible slowdown in its economic growth

Photo: BGNES

A World Bank report on public finances in Bulgaria points out the need to improve VAT collection. It also states that greater efficiency is needed in public procurement, spending on education and helping the vulnerable groups. 

According to the authors of the report, if measures were not taken now, in the long term the potential for economic growth would be severely limited. As an example, the still differentiated VAT rates, especially in the restaurant industry, the inefficient spending on education and public procurement are pointed out. It is for this reason that “if the necessary reforms are not undertaken now, growth could slow to around 1.25% by 2050." According to Deputy Minister Georgi Klisurski, in order to accelerate growth, the ministry will rely heavily on investments. Therefore, negotiations with foreign investors are conducted daily.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Rain and snow expected on Thursday

On Thursday, the cloud cover will increase significantly, and rain showers will begin. There will be moderate winds. Strong and gusty westerly and northwesterly winds are expected in the Danubian Plain and the western part of the Upper Thracian Plain...

published on 4/9/25 6:50 PM

Sofia public transport employees to protest on Monday, block central junctions

Sofia public transport workers will protest on Monday, April 14, demanding increase in wages . The decision to protest was made after meetings between the industry and the Sofia Municipality. The transport workers do not agree with the municipality's..

published on 4/9/25 6:50 PM
Bulgarian President Rumen Radev at the Delphi Economic Forum

President Rumen Radev: Europe can cope with challenges if it raises its ambitions

On April 9 and 10, Bulgaria's President Rumen Radev participated in the Delphi Economic Forum in Greece . The event brings together heads of state and government, representatives of academia, business and the non-governmental sector, who discuss the..

published on 4/9/25 6:35 PM