wiiw Forecast Reports
BULGARIA: Economic weakness likely to persist
publication_icon
in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. 60-63
Economic slowdown became more pronounced over the course of the year, and industry actually plunged into a deep recession. Export performance was dismal against the background of shrinking demand in Western Europe. A new government took office in May, supported by the two main political parties. Its foundations are shaky, however, as the parties have not signed a coalition agreement. Economic weakness will persist: GDP will grow by 1.0% in 2023 and by 1.5% and 2.5% in 2024 and 2025, respectively.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Bulgaria