Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Geopolitical uncertainty and reduced international demand are shrinking GDP

Photo: Archive

The real growth of the gross domestic product (GDP) in Bulgaria for 2023 will be 1.8% compared to 3.9% in 2022. The growth is mainly determined by an increase in private consumption and positive net exports. The change in inventories has a significant negative impact on economic activity. These are the expectations of the analysts from the Bulgarian National Bank (BNB), recorded in the latest quarterly publication "Macroeconomic Forecast".

Compared to the November forecast, the BNB expects a lower GDP growth in 2024 and 2025. At the time, the BNB expected Bulgaria's economic growth to be 1.9% in 2023, 2.7% in 2024, and 2025 – 3.6%. 

Due to geopolitical uncertainty and an expected contraction in demand for Bulgarian goods and services, the January forecast is for GDP to grow to 2.5% in 2023 and to 3.4% in 2025.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Export to EU and non-EU countries declines

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..

published on 12/12/24 1:23 PM
Caretaker Minister of Energy Vladimir Malinov

Shell to explore for oil and gas in the Black Sea

Shell Exploration and Production (96) B.V , a subsidiary of Shell, will explore for oil and natural gas in Block 1-26 Khan Tervel, located in Bulgaria's exclusive economic zone in the Black Sea, announced Bulgaria's caretaker Minister of Energy..

published on 12/11/24 6:22 PM

Online conference discusses possibilities for supplying Bulgarian gas to Moldova

The Bulgarian-Moldovan Chamber of Commerce and Industry held a meeting with leading specialists from the energy sector of Bulgaria and Moldova. The online conference was led by the Chairman of the Bulgarian-Moldovan Chamber of Commerce and Industry,..

published on 12/10/24 4:19 PM