The National Statistical Institute published last week official data about Bulgaria’s gross domestic product in 2015. Meanwhile, the European Commission published its annual social and economic analysis about Bulgaria, too.
According to the Bulgarian statistics, in 2015 the country’s economy grew with 3%, which is the biggest increase marked in the past seven years. Thus, Bulgaria placed amidst the 10 EU countries with highest economic growth. However, it also means that the business climate in Bulgaria is good and favors economic activity. This fact was also proved by the sharp increase of the foreign investments in that country in 2015 to their highest level in 6 years. In other words, both the Bulgarian and the foreign companies took advantage of the business environment in Bulgaria and the local market.
The European Commission, however, was of a completely different opinion. Its criticism towards the country’s economy and social system was nearly as strong as the criticism towards Bulgaria’s judicial system. According to Brussels, the only positive sign in Bulgaria’s economy is the fact that the country managed to overcome the crisis. However, the EC sent a series of reproaches and doubted Bulgaria’s ability to reach a permanent economic growth, accompanied with better social conditions.
Which institution is right about Bulgaria’s economy-the Bulgarian statistics or the European Commission? Both institutions seem to be right, because Bulgaria marked an economic growth indeed, it managed to attract more foreign investments, but the business has to overcome a series of problems and obstacles as well. So, instead of threatening to place Bulgaria’s economy under a special supervision, just like the supervision carried out in the country’s judiciary and internal order field, the EC would be much more useful to Bulgaria, if it boosted cooperation with Bulgaria’s authorities in their attempt to solve the exiting problems, which would be to the interest of the whole European Union.
English: Kostadin AtanassovThe euro area annual inflation rate was 2.5% in January 2025, up from 2.4% in December 2024. In Bulgaria, it accelerated more sharply in January to 3.8% from 2.1% a month earlier , reaching the highest level in 12 months (since January 2024, when it..
A concession award procedure for Plovdiv Airport is planned, Deputy Premier and Minister of Transport and Communications Grozdan Karadjov said at a meeting with aviation industry representatives. Minister Karadjov emphasized that he supports the idea..
Bulgaria’s Minister of Finance Temenuzhka Petkova said that the turnover of large retail chains in Bulgaria decreased by 28.8% on the day of the boycott compared to the previous day, reported BTA. Temenuzhka Petkova took part in the meeting on..
In 2024, the average gross annual salary in Bulgaria is 27,881 BGN (EUR 14,255), according to preliminary data from the National Statistical Institute...
Bulgaria has favorable climatic conditions for producing electricity from the su n, even in the transitional seasons of spring and autumn. One of the..
A Bulgarian-Greek Business Forum with the participation of nearly 60 companies from both countries has opened today in Sofia . The forum is organized by..
+359 2 9336 661