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

Dimitar Radev

The banks are ready for the euro, now politicians should make a move, BNB governor says

A year with good results in the banking sector, achieved in a difficult domestic and external environment. This is how the governor of the Bulgarian National Bank (BNB), Dimitar Radev, assessed the outgoing 2024 in an interview with..

published on 12/6/24 10:52 AM

President of Vienna Chamber of Commerce and Industry: Bulgaria’s full membership of Schengen will accelerate business relations with Austria

Bulgaria and Romania will be fully admitted to the Schengen area, said Walter Ruck, President of the Vienna Chamber of Commerce and Industry said during a meeting with Bulgarian Vice President Iliana Iotova in Vienna. Austrian businesses have always..

published on 12/5/24 12:12 PM

BNB discusses eurozone accession with EU ambassadors in Sofia

Bulgarian National Bank (BNB) Governor Dimitar Radev has met with EU ambassadors and discussed the country's upcoming accession to the eurozone , the BNB announced. The meeting was held in Sofia at the invitation of Hungarian..

published on 12/4/24 9:41 AM