The German economy has been shrinking and the government expects a decline of 0.2% of GDP. Some of the main reasons for this include unresolved structural problems related to lack of energy security, excessive bureaucracy and shortage of skilled workers, as well as geopolitical uncertainty. In July, an additional Growth Initiative package of measures was adopted to stimulate the economy. Vice Chancellor Robert Habeck said it could boost Germany's growth rate by about half percent once fully implemented. It is assumed that in 2025 there will be growth again and it will be 1.1%, while in 2026 it will reach 1.6% of GDP.
What is the effect in Bulgaria of the turbulence experienced by one of the engines of the European economy?
Germany is a key trade partner of this country, as the annual exchange of goods has been growing and reaches 12 billion euros.
The Head of the Economic Section at the German Embassy in Sofia, Moritz Seiler, told us more about the advantages that German investors find in Bulgaria compared to our neighbours in the Balkans:
Publication in English: Al. Markov
Photos: BTA, Pixabay, BGNES
A Taiwanese technology giant is negotiating to build a large production facility on the territory of the Trakia Economic Zone near Plovdiv, announced caretaker Minister of Innovation and Growth Rosen Karadimov. He was briefed with the progress of the..
A Japanese-Bulgarian business forum is being held in Sofia, organized jointly by the Japan External Trade Organization (JETRO ) and the Bulgaria Invest Agency . "I am leading a delegation of a hundred people, a fact that speaks volumes about..
EU energy ministers are meeting in Luxembourg to discuss the energy sector's contribution to the EU's competitiveness, wholesale electricity prices and winter preparedness. At the request of Greece, supported by Bulgaria, Romania and Croatia,..
Partly Cloudy