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Bulgaria's economic growth is expected to speed up from 3.5% last year to 3.9% in 2019 on the back of moderate fiscal stimulus and acceleration of investment activity, Italian financial group UniCredit said on Wednesday, reports SeeNews.
"Among the planned measures, the boost in infrastructure spending and the increase in public sector wages are expected to be the most effective in supporting domestic demand in 2019," UniCredit said in a quarterly macroeconomic report on Central and Eastern Europe.
Bulgaria's gross domestic product growth is then expected to slow down to 3.0% in 2020 as a result of the cyclical downturn anticipated in advanced economies and tighter financing conditions.
A sharp drop in export volumes to Turkey was among the major hurdles to Bulgaria's economic expansion in 2018. The forecast acceleration of the Turkish economy in the next few years is expected to limit the decrease in Bulgaria's exports to the country in 2019, before they start increasing in 2020.
As Bulgaria's unemployment rate is projected to drop below 5% this year, job creation is expected to lose some momentum.
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According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
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