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Bulgaria is an industrialised high-income country according to the World Bank, [28] and is a member of the European Union (EU), the World Trade Organization (WTO), the Organization for Security and Co-operation in Europe (OSCE) and the Organization of the Black Sea Economic Cooperation (BSEC).
Apr 10, 2024 · Bulgaria has undergone a significant transformation over the past three decades. It has transformed from a highly centralized, planned economy to an open, market-based, upper-middle-income economy securely anchored in the EU.
The Bulgarian economy performed relatively well during the COVID-19 and energy crises. GDP rebounded strongly by 7.6% in 2021, after output contracted by 4% in 2020. In parallel, inflation picked up in the second half of 2021, driven by fuel and food price increases. Economic expansion continued in 2022, with GDP growth of 3.4% despite
Apr 4, 2023 · Economic Policy Reforms: Going for Growth 2023 - Bulgaria.
GDP (current US$) - Bulgaria. World Bank national accounts data, and OECD National Accounts data files.
An open economy with a large manufacturing sector integrated in global value chains, Bulgaria has made strong income gains in the past two decades. A sound macroeconomic framework and deepening integration with the European Union have allowed progress towards euro area entry.
The COVID-19 pandemic has put a break on Bulgaria’s robust economic performance. Following 3.7 percent growth in 2019, real GDP is estimated to have contracted by 4.6 percent in 2020 as a result of the lockdown at the outset of the crisis and a second wave
The number of employed in Bulgarian economy (according to SNA data) was 3 657.5 thousand in Q3 2021, up by 1.9% yoy. An increase over the same pe-riod in 2020 had been reported by both em-ployees (up 2.2%) and self-employed per-sons (up 1.2%). Employment recovery had already been observed in most of the eco-in-
May 15, 2024 · GDP in Bulgaria is projected to grow by 1.9% in 2024 and 2.9% in 2025. Although private consumption growth is expected to moderate, domestic demand is set to remain the main growth driver. Exports are expected to expand robustly after 2024-Q1 in line with the recovery of external demand and imports are projected to rebound, led by domestic demand.
The Monthly Report on Bulgarian Economy presents recent developments of main macroeconomic indicators. The publication is prepared by the European Affairs and Economic Analysis Directorate at the Ministry of Finance and is published in both Bulgarian and English.
