In its winter economic forecast, the European Commission gives a better economic outlook for Bulgaria than it did in its autumn report.
Overall, real GDP is estimated to have increased by 3.9% in 2022, instead of the expected 3.1%. In 2023, real GDP is expected to increase by 1.4% and in 2024 - by 2.5%. Previous estimates were for a 1.1% increase in 2023, and 2.4% in 2024.
In the context of a tight labour market, wages are expected to continue to grow strongly and to sustain household consumption, the report reads. Export growth is forecast to slow down considerably in 2023 given that the factors for further gains in export market share were largely exhausted in 2022 (…) Overall, HICP inflation is set to decline from 13% in 2022 to 7.8% in 2023 on account of lower energy prices, the report reads further.
The liberalization of the electricity market for household consumers and their entering the free electricity market, something companies did years ago, is being postponed. At least for now. The reform should have entered into effect on 1..
The preparation of the non-banking financial sector for the introduction of the euro is at a very advanced stage and a significant part of it has already taken concrete measures to adapt to the new currency, the new chairman of the Financial..
The likelihood of Bulgaria joining the eurozone on 1 January 2026 is growing by the day. The country would become the 21st EU member to adopt the single currency. The signals are coming both from the Bulgarian government, which has repeatedly stated..
Bulgaria will meet the price stability criterion for joining the eurozone without the need for subjective calculations, said the Institute for..
Partly Cloudy
Clear
Mostly Cloudy