Fitch Ratings has raised the outlook on Bulgaria's Long-Term Foreign-Currency Issuer Default Rating (IDR) from stable to positive. The current assessment stems from lower macroeconomic risks associated with the Covid-19 crisis, the continuing interest in joining the euro zone, as well as the support from EU funds.
In the coming years, Bulgaria is expected to be one of the main beneficiaries of EU financing, including 16.6 billion euros (27% of GDP in 2020) under the multi-annual financial framework (2021-2027) and 7.5 billion euros (12% of GDP for 2020) in the form of EU grants under the NGEU mechanism. According to Fitch Ratings, this would increase economic growth from projected 3% in 2021 to 4-5% in the period 2022-2025.
In the long run, however, Fitch also points out a number of unfavorable factors, including the demographic structure of the population.
Bulgaria’s industry is being transformed in the direction of high added value productions, reads an analysis by the Institute for Market Economics. This tendency is best manifested in computer science, electronics and optics which account for the..
Acceleration of inflation to 1.1% in October compared to the previous month was registered by the National Statistical Institute. On an annual basis, the index is 1.8 percent. In October, the prices of goods and services for..
A working group comprising representatives of employers, trade unions and government experts is discussing the proposals of the Ministry of Labor and Social Policy for introducing a new mechanism to determine the minimum wage. This is happening a day..
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