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

Bulgaria's Foreign Ministry issues safety recommendations to Bulgarian citizens in the Middle East

The Ministry of Foreign Affairs calls on Bulgarian citizens located in the Middle East region and in particular on the territory of the Republic of Iraq, the Kingdom of Bahrain, the United Arab Emirates and Saudi Arabia to strictly adhere to the..

published on 6/13/25 11:17 AM
Prof. Angel Dimitrov

Bulgarian-Macedonian historical commission meets fruitlessly in Skopje

On June 12, the 36th meeting of the joint multidisciplinary historical commission between Bulgaria and North Macedonia was held at the Ministry of Foreign Affairs in Skopje , BGNES reports. "The meeting is no different from the previous ones. The..

published on 6/13/25 10:49 AM

First passenger ferry from Istanbul to Burgas to start operation on June 24

The Istanbul-Burgas ferry line was officially opened in Istanbul on June 12 , the Turkish DHA news agency reported. The start of the project was delayed due to the Covid-19 pandemic.  The first trip was expected to take place in October 2024,..

published on 6/13/25 10:43 AM