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

Rheinmetall has signed a deal to build a munitions plant in Sopot, Bulgaria

The Bulgarian government and the German defence group Rheinmetall have signed an agreement in Sofia to build a gunpowder and 155 mm artillery shell factory at the state-owned Vazov Machine Building Works (VMZ) in Sopot. The deal was signed by..

published on 10/28/25 1:43 PM

Bulgarian Embassy in USA hosts reception for the oldest Jewish organization B'nai B'rith

The Embassy of Bulgaria in Washington hosted a reception for the Board of Executive Directors of the oldest Jewish organization "B'nai B'rith" . This was announced by the diplomatic mission on Facebook . The organization’s CEO..

published on 10/28/25 11:20 AM
Vanya Grashkina-Mincheva

There is an increase in requests for recognition of student diplomas obtained abroad

Applications for recognition of higher education obtained abroad have doubled. This was announced by Vanya Grashkina-Mincheva, executive director of the National Center for Information and Documentation before a meeting of the parliamentary education..

published on 10/28/25 11:06 AM