UniCredit – Bulgarian Economy To Speed Up In 2019

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

“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.

Read More

Bulgarian Fibank Increases Its Capital

Fibank (First Investment Bank) successfully increased its capital. Today, investors paid for the shares of the new issue of...

Cargotec Announces €0.5 Million Investment In Bulgaria

Cargotec Bulgaria, a unit of Finland's Cargotec, is investing 1 million levs ($564,000/511,000 euro) in the expansion of its business services centre in...

Flag Burner Arrested In Bulgaria

The infamous video was uploaded by and starred Mihail Mihailov, a man from Stara Zagora. The act happened on May 29. In the clip,...


Bulgarian Ministry Of Culture Is Inspecting Bozhkov’s Confiscated Collection

The Prosecutor's Office instructed the Ministry of Culture to inspect the collection of antique objects kept and exhibited in a museum by the Thrace...

Top 10 Richest Bulgarians List (Updated May 18th, 2020)

2020 has seen 1 new entrant to the top 10 richest Bulgarians; Nikolay Banev (has been in top 10 before). There have...

Norway & Bulgaria Announce Economic Partnership

I am confident that today’s visit will boost economic relations, first of all, as at the political level we have no open bilateral...