Text size

Eurozone entry could bring benefits for Bulgarian businesses and economy

published on 1/8/25 11:37 AM

Photo: REUTERS

Bulgarian exports are expected to grow by 5.8% annually after Bulgaria joins the eurozone. Trade in goods could increase by 3.3%, and in the services sector, growth might reach 8.4%. This is predicted by an analysis by the trade credit insurance company "Allianz Trade".

Experts' calculations show that if export data from 2023 is taken as a basis, this means a missed potential increase in volume worth 2.6 billion dollars.

In addition, due to the delay in eurozone membership, Bulgarian businesses continue to suffer losses from transaction costs, which will decrease upon transition to a common currency. Thus, the overall effect on the country's GDP after joining the eurozone would amount to an additional growth of 0.2% per year, Allianz Trade summarizes.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy Bulgarian economy Eurozone

More from category

The business wants political stability with a working government and parliament

With a growth of 2.2 percent, Bulgaria is among the top 6 countries in the EU, Caretaker Minister of Economy Petko Nikolov reported during the ceremony of presenting the annual awards of the Bulgarian Chamber of Commerce and Industry..

published on 12/4/24 9:03 AM

Local authorities call for urgent reform of Bulgaria's planning districts

Urgent reform of Bulgaria's planning districts is needed, local authorities insist.The current regionalization shows increasing economic imbalances in terms of EU grant assistance. The problem is particularly severe in the Southwestern region, which..

published on 12/2/24 9:27 AM

Bulgargaz proposes that the price of natural gas for December be set at 75.89 BGN/MWh

The final price at which Bulgargaz will sell natural gas in December to end suppliers and to persons with a license for the production and transmission of thermal energy is 75.89 BGN/MWh (excluding excise duty and VAT), the company announced...

published on 12/1/24 3:55 PM

WEATHER

Pick city: Sofía

Mostly Cloudy
Min: 1 | Max: 12

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

Unions and businesses protest against hike in industrial electricity prices

Without compensation for the price of electricity, companies will be uncompetitive, said Vasil Velev of the Bulgarian Industrial Capital Association..

published on 1/9/25 1:13 PM

Share