The European Commission forecasts 12.8% Inflation in Bulgaria in 2022

Business » FINANCE | November 11, 2022, Friday // 14:04
Bulgaria: The European Commission forecasts 12.8% Inflation in Bulgaria in 2022 EU Commissioner for Economy Paolo Gentiloni

Inflation in Bulgaria will be 12.8 percent in 2022, according to the published autumn economic forecast of the European Commission. It is 0.3 points higher than the summer forecast, when annual inflation of 12.5% ​​was predicted for Bulgaria.

Although the increase seems insignificant, it is good to remember that last year inflation in our country was 2.8 percent. Next year it is expected to be 7.4 percent, and in 2024 - 3.2 percent.

The decline in the growth of the gross domestic product will also be serious, which is expected to be 3.1% compared to 7.6% in 2021. However, here the forecast is better than the summer one, which predicted a growth of only 2.8 per hundred. Next year it will be 1.1%, and in 2024 - 2.4%.

For this year, the decline of investments in Bulgaria will be 8 percent. Here we have an improvement compared to last year, when it was 8.3%. Next year, however, growth of 5.5 percent is expected, and in 2024 - of 7 percent.

Employment in Bulgaria will mark a jump of 0.4%. Next year there will be no change, and in 2024 there will be a new growth of 0.2%.

Unemployment in Bulgaria this year will be 5.2%. It will be the same in 2023. And in 2024, there will be a slight increase to 5.3 percent.

The balance on the current account of the balance of payments in Bulgaria will be minus 1.2 percent of GDP. Next year it will be minus 3%, and the following year - minus 3.2%.

For the balance of the consolidated state budget, the forecast is minus 3.4% of GDP for this year, minus 2.8% for the next and minus 2.5% for 2024.

Bulgaria's gross consolidated public debt is expected to be 22.5 percent of GDP in 2022. The forecast for next year is 23.6%, and for 2024 - 25.6%.

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