Text size

OECD: Second wave of Covid-19 will shrink the Bulgarian economy by over 8%

published on 6/12/20 7:05 PM

Photo: capital.bg

The Bulgarian economy grew before the pandemic, but in 2020 it is facing its most serious contraction since the late 1990s. In the most favourable scenario with the epidemic subsiding by the summer, its production will shrink by 7.1% in 2020, and in 2021 the economy will grow.

However, if the country is hit by a second wave of coronavirus, it will shrink its economy by about 8% this year and by another 0.3% in 2021. This is indicated by the forecast of the Organization for Economic Cooperation and Development for Bulgaria (according to the European Commission by 7.2% and according to the government by 3%).

According to the analysis, a restart of the economy may require more political support. Unemployment could rise, especially if the government's wage subsidy scheme ends in July without being replaced by new employment policies.

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

Radio Bulgaria News coronavirus economic growth economic recovery epidemic second wave

More from category

Damage control teams in Shumen clear up fallen trees due to strong wind

The damage control and fire-fighting teams in Shumen have responded to 10 reports of damage due to the strong wind, the Regional Directorate of the Interior Ministry has announced. More often than not the reports were of fallen trees and branches in..

published on 11/21/24 11:48 AM

Market Links: 35% of Bulgarians want election to be annulled

More than 35% of people in this country support the idea of a full annulment of the 27 October early election for parliament , indicates a national survey financed and carried out jointly by bTV and Market Links sociological agency. 26% of the..

published on 11/21/24 11:29 AM

Only 10% of pregnant underage girls in Bulgaria have an abortion

The youngest grandmother in Bulgaria is just 28, Dr. Antonio Dushepeev, head of the maternity ward at the University General Hospital in Burgas said for the BNR. 149 underage girls gave birth at the hospital last year alone, the youngest of whom was..

published on 11/21/24 9:59 AM