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.
The price of electricity for households could increase by nearly 9% starting next year, according to estimates by the Energy and Water Regulatory Commission. This means that with an average consumption of nearly 400 kilowatt-hours, the monthly bills..
The leadership of the Confederation of Independent Trade Unions in Bulgaria (CITUB) insists that a national subsistence wage be introduced in Bulgaria, with the minimum wage in the country reaching at least 80% of the subsistence wage by 2027. According..
In the period January - September 2024, exports of goods from Bulgaria to the EU decreased by 3.6% compared to a year earlier and amounted to 20.895 billion euros. The main trading partners are Germany, Romania, Italy, Greece and..
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