In the first quarter of 2024, the gross domestic product (GDP) grew by 1.8% compared to the same period in 2023. The first forecasts were for a growth of 1.7%, according to data of the National Statistical Institute.
The GDP produced was 21.76 billion euros or 3,379 euros per capita. 80.6% of GDP is spent on final consumption. Investments form 14.2% of GDP. The foreign trade balance of goods and services is positive. Final consumption in the country for the period increased by 3.4% and actually formed the economic growth. Exports of goods and services decreased by 2.1%, and imports of goods and services decreased by 3.7%.
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..
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..
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