Bulgaria’s gross domestic product is to decrease by 4% in 2020 and then regain ground with 4.1% growth in 2021, the International Monetary Fund forecasts in its latest World Economic Outlook report.
There is a 60% probability that the decline in Bulgaria’s GDP in 2020 will be between 3.2% and 8%. The decline will most likely be 5.5%, the macroeconomic forecast of the Bulgarian National Bank reads. Forecasts are more likely to be made by astrologists than economists, because in the middle of October it is not clear yet what restrictions may be introduced because of the coronavirus pandemic, Professor Boyan Durankev commented for BNR. Consumption in Bulgaria declined by 3% on an annual basis, Boyan Durankev pointed out. Professor Durankev expects difficult winter for the country and restrictions on government spending.
In the space of 15 years, from 2005 until 2020, 75% of the farms in the country have disappeared – from 500,000 in 2005 down to 132,000 in 2020, said Prof. Dr. Bozhidar Ivanov, Director of the Institute of Agrarian Economics at an international..
In October 2024, the total business climate indicator decreased by 5.6 percentage points compared to September, dropping from 22.5% to 16.9%. The index declined in all monitored sectors, the National Statistical Institute announced. In industry, the..
Petar Ganev , senior researcher at the Institute for Market Economics announced, for the BNR, the publication of their white paper of the Bulgarian economy – Unlocking growth: the road ahead after the election. “Concord should be sought and..
“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are..
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