In 2023, the Bulgarian economy marks decline in the ranking of competitive countries in the world, according to the 35th edition of the IMD World Competitiveness Yearbook. In 2023, Bulgaria holds 57th place out of a total of 64 countries, which is a decline by four places in comparison to 2022. The country's ranking declined by 9 positions after 2020 and by 19 positions in comparison to 2009, when the country’s best performance was reported.
According to the criterion of economic efficiency, Bulgaria is in 48th position, rising by 1 place compared to 2022, but remaining 14 positions below the level of 2020. According to the criterion of government policies in 2023, the country is in 55th place, or 6 positions lower in comparison to 2022. Business environment also shows a deterioration and in 2023 it is placed in 62nd place.
After the election for parliament on 27 October, the caretaker government has to submit a draft of a budget for 2025 to parliament by the end of the month. Some economic analysts say the budget of the country for 2024 is the worst in the past decade. Holes..
Bulgaria's economy will grow by 2.3 per cent this year. This is according to the latest World Economic Outlook prepared by the International Monetary Fund and presented today in Washington. This is down from the Fund's April estimate, which predicted that..
In 2023, the government budget deficit was 2% of GDP or €1.9 billion. This is indicated by the final data of the National Statistical Institute. This is a significant narrowing of the budget deficit compared to the previous 3 years...
Mostly Cloudy
Partly Cloudy