The war in Ukraine is putting the world economy to the test, and UN experts are presenting an outlook for 2023 with the slowest growth rate in a decade.
For Bulgaria the outlook is for a slowdown of growth from the expected 3% for 2022 down to 1.5% for 2023. This is an index which places Bulgaria among the best-performing countries in the EU, because the projected growth rate for the entire union is 0.2% in 2023. In 2024, the growth of the Bulgarian economy is expected to pick up, reaching 3%. Inflation in Bulgaria is expected to slow down from the expected 14% in 2022 to 7.5% in 2023, and to 3.2% in 2024. The labour market remains stable. According to UN estimates, in 2022 unemployment stood at 5.3%, and will reach 4.3% in 2023.
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate was 3.78%. Bulgaria is in a currency board and the Bulgarian lev is pegged to the euro. Therefore,..
Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet 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, the European Commission said in a statement. The money is part of a total of nearly €3 billion..
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