Text size

Eurozone entry could bring benefits for Bulgarian businesses and economy

published on 1/8/25 11:37 AM

Photo: REUTERS

Bulgarian exports are expected to grow by 5.8% annually after Bulgaria joins the eurozone. Trade in goods could increase by 3.3%, and in the services sector, growth might reach 8.4%. This is predicted by an analysis by the trade credit insurance company "Allianz Trade".

Experts' calculations show that if export data from 2023 is taken as a basis, this means a missed potential increase in volume worth 2.6 billion dollars.

In addition, due to the delay in eurozone membership, Bulgarian businesses continue to suffer losses from transaction costs, which will decrease upon transition to a common currency. Thus, the overall effect on the country's GDP after joining the eurozone would amount to an additional growth of 0.2% per year, Allianz Trade summarizes.

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

Radio Bulgaria Economy Bulgarian economy Eurozone

More from category

Expected deficit at the end of last year exceeds €3 billion

Based on preliminary data, the Finance Ministry expects a deficit of around BGN 6.1 billion ( €3.11 billion), or 3% of the projected gross domestic product (GDP), at the end of 2024. "Estimates suggest that the deficit will show an improvement..

published on 1/3/25 9:24 AM

Which currencies will be most sought after by Bulgarians in 2024?

The two most sought-after currencies by Bulgarians in 2024 remain the US dollar and the euro, just as in 2023. The Turkish lira, the Romanian leu and the Serbian dinar were also very popular, followed by the British pound and the Swiss franc. This was..

published on 1/2/25 3:08 PM

Improved business climate recorded at the end of December

The overall business climate indicator in Bulgaria has increased in December by 1.7 points from 17 percent to 18.7% compared to November . An increase in the indicator was observed in the industry sector by 1.9 points, in retail trade by 5.7 points and..

published on 12/31/24 9:53 AM

WEATHER

Pick city: Sofía

Partly Cloudy
Min: 2 | Max: 12

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

Unions and businesses protest against hike in industrial electricity prices

Without compensation for the price of electricity, companies will be uncompetitive, said Vasil Velev of the Bulgarian Industrial Capital Association..

published on 1/9/25 1:13 PM

Share