Bulgaria Economic Outlook
March 10, 2020Growth moderated somewhat in the fourth quarter of last year, restrained by falling fixed investment amid faltering external demand. However, consumer spending gained some steam on the back of strong wage growth and labor market conditions, cushioning the slowdown. The economy seems to be losing further traction in the first quarter of this year, on protracted weakness in the EU and due to the coronavirus outbreak. Business confidence fell in February, while the unemployment rate rose in the previous month, suggesting cooling dynamics. In other news, in late February the European Commission praised the structural reforms and measures to reduce macroeconomic imbalances, and encouraged the government to further strengthen the competitiveness of its economy. Earlier in the month, Prime Minister Boyko Borissov announced the country’s application to join the pre-euro exchange-rate mechanism (ERM-II) will be examined next July.
Bulgaria Economic GrowthMomentum should wane this year, as less job gains weigh on consumer spending. However, private consumption will remain the main driver of growth, underpinned by wage hikes, while investment activity benefits from stronger EU funds absorption and cushions the slowdown. A frail EU economy, coupled with the prolonged impact of Covid-19, cloud the outlook. FocusEconomics panelists project growth of 3.0% in 2020, which is unchanged from last month’s forecast, and 2.9% in 2021.
Bulgaria Economy Data
5 years of Bulgaria economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||0.40||0.0 %||Dec 31|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Bulgaria Economic News
March 16, 2020
Consumer prices increased a modest 0.1% from the previous month in February, following January’s 0.9% jump.
March 10, 2020
Industrial production dropped 0.7% year-on-year in January, after falling a 1.3% in December.
March 5, 2020
The economy grew 3.1% in annual terms in the final quarter of last year, down 0.4 percentage points from the preliminary estimate and slowing from the previous quarter’s revised 3.2% expansion (previously reported: +3.7% year-on-year), according to comprehensive data released by the National Statistical Institute.
February 14, 2020
bet360备用网址Consumer prices increased 0.9% from the previous month in January, following December’s 0.7% rise.
February 14, 2020
The economy grew 3.5% year-on-year in the fourth quarter, slightly down from the third quarter’s 3.7% outturn but beating market expectations, according to a preliminary release by the Statistical Institute on 14 February.