Inflation in Bulgaria will more than double compared to 2021. From 2.8 percent it will become 6.3%.

This is according to the European Commission’s winter economic forecast announced today.

In the inflation table for this year, a higher percentage of our country is projected only for Poland (6.8), Lithuania (6.7), and Slovakia (6.4). Poland is outside the Eurozone.

Inflation has jumped in all EU member states without exception. Greece has the highest jump of more than five times – from 0.6% to 3.1%.

At the same time, GDP growth in Bulgaria will fall, albeit by only 0.3 percent. From 4% in 2021, it is now expected to be 3.7%.

In 2023, however, the indicators for our country will be better. Inflation will fall sharply again – to 3.9 percent. There will also be GDP growth, which will also reach 3.9 percent.

In terms of GDP growth, the picture is different in the member states. It is positive in 6 countries – Germany, Spain, Portugal, Malta, Slovakia and the Czech Republic (the only one outside the Eurozone). The biggest jump is in Germany – from 2.8% to 3.6%. The most drastic, or almost threefold, decline is in Ireland – from 13.7 percent to 5.5 percent.