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The Chair of the Bulgarian Industrial Association, (BSK), Bozhidar Danev (l) during a meeting with President, Georgi Parvanov. Photo by BGNES
The growth of the Bulgarian economy projected in budget 2011 would not be reached, according to the Chair of the Bulgarian Industrial Association, (BSK), Bozhidar Danev.
A growth of 3.6% in the Gross Domestic Product (GDP) is more like science fiction because it means a 2% growth in the third quarter and 5.8% in the fourth, Danev says.
BSK supports taking out a loan in times of recession, but finds it very alarming the funds would be used for social needs, not for reforms and investments, the BSK Chair stated Tuesday, adding the cabinet's budget conceals the real expenditures of ministries because all insurance and health contributions for their employees are deposited as a State transfer and not listed in the said budgets.
Danev further pointed out there isn't a real health care reform with the government steering the funds away from the sector and using them for payments to the fiscal reserve.
"Budget 2011 does not support neither the health reform nor the retirement one. And all this is done to keep people calm because 2011 is an election year," the BSK Chair explained.
The Council of Ministers has adopted the Report on the State of Defense and the Armed Forces of the Republic of Bulgaria for 2025, which was submitted to both the National Assembly and the public, outlining an overall assessment of military readiness and
Preliminary data from Eurostat show that the European Union’s average GDP per capita, measured in purchasing power standards (PPS), reached 41,600 euros in 2025
Bulgaria’s economy expanded by 3.0% in the fourth quarter of 2025 compared to the same period in 2024, according to preliminary figures from the National Statistical Institute. On a quarterly basis, seasonally adjusted data indicate a growth of 0.8% relat
In the final quarter of 2025, Bulgaria’s economy showed signs of slowing, with gross domestic product (GDP) rising by 2.9 percent year-on-year, down from 3.1 percent in the same period of 2024.
Bulgaria ranks as one of the three European Union member states with the lowest government debt relative to GDP in the third quarter of 2025, though it also registered the second-highest increase in debt compared with the previous quarter
The Bulgarian National Bank (BNB) has updated its GDP growth forecast for Bulgaria for the 2025–2027 period, showing a more optimistic outlook than its June 2025 projections.
Bulgaria’s new government borrowing for 2026 has surpassed the 1 billion euro mark following the latest successful auction of state securities, according to data cited from the Bulgarian National Bank
Bulgaria recorded only a modest and one-off increase in inflation following the adoption of the euro on January 1, with the effect estimated at between 0.3 and 0.4 percentage points
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
In the 2026 edition of the Index of Economic Freedom, compiled by the Heritage Foundation, Bulgaria is placed 38th out of 176 countries, positioned between Costa Rica and Oman
Finance officials and the Bulgarian National Bank have issued a series of warnings about Bulgaria’s fiscal and economic outlook for 2026, highlighting rising pressure on public finances, slower growth, and higher inflation.
With the initial months following the introduction of the euro, institutional oversight in Bulgaria is gradually shifting from intensive inspections to a more systematic and long-term monitoring framework
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