Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

EU maintains Covid-19 economic forecast for Bulgaria

Photo: Archive

Bulgaria's GDP in 2020 will shrink by 7.1%, and in 2021 will return to a growth of 5.3 percent, according to the summer economic forecast of the European Commission. In May, Brussels forecast a decline in the Bulgarian economy of 7.2% for 2020 and growth of 6% for 2021. 

Despite the good economic performance at the beginning of the year, the Covid-19 pandemic had a negative impact on the economy, the European Commission notes in relation to Bulgaria. It points to declining private consumption due to the restrictive measures, while reduced revenues, lower capacity utilization and greater uncertainty are limiting investment. 
Exports are also affected by the deteriorating situation abroad, with a revival expected in the second half of 2021.



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

Bulgarians will travel to China without visas

The People's Republic of China is introducing a visa-free regime for holders of Bulgarian passports for business purposes, tourism, visiting relatives or friends, official visits or transit, for no more than 30 days. The Situation..

published on 11/28/24 8:50 AM

New attempt to elect speaker 18 days after the opening of the 51st National Assembly

Bulgarian MPs are meeting today for the seventh time in an attempt to elect a speaker of the 51st National Assembly after the first six failed to produce a result. This is how the first session of the new parliament, which began on November 11, continues..

published on 11/28/24 7:40 AM

Experts discuss the future of the real estate market in Sofia

The Real Estate Business Forum "Standards of the Future in Our Living Environment" will bring together experts in Sofia today. The focus of the discussions will be on the real estate market in the Bulgarian capital and the region. An analysis of..

published on 11/28/24 5:15 AM