Bulgaria’s gross domestic product will grow by 4.5% this year and by 4% in 2022, stronger than previously expected, indicates the June forecast of the European Bank for Reconstruction and Development, reported BGNES. In 2020, which was marked by the coronavirus pandemic, this country’s economy contracted by 4.2%. In the previous issue of the report in October last year, EBRD projected that Bulgaria’s GDP would grow by 3% in 2021.
In 2020, the Bulgarian economy contracted due to the weak performance of exports and investments, which decreased by 11.3% and 5.1%, respectively. Meanwhile, Bulgaria reports good levels of domestic consumption, unlike other countries in the region. This is mainly due to the milder containment measures and robust wage growth throughout the year.
Bulgaria will receive €65.2 million from the EU for a project to reinforce the electricity grid to better support the integration of renewable energy, the European Commission said in a statement. The money is part of a total of nearly €3 billion..
Bulgaria ranks 58th out of 67 countries in the World Competitiveness Yearbook of the Institute for Management Development (IMD), Switzerland. The country has shown a lack of progress since 2021 and dropped 10 positions compared to 2020 and 20..
According to data from the National Statistical Institute, Bulgaria experienced a monthly inflation rate of -0.2% in May 2024 . Year-on-year inflation from May 2024 compared to December 2023 stands at 0.4%, while the average annual inflation rate for the..
Bulgaria will receive €65.2 million from the EU for a project to reinforce the electricity grid to better support the integration of renewable energy,..
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