map Bulgaria
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.
Main Economic Indicators202020212022202320242025
Population, 1000 persons693468786465...
GDP, real change in %-
GDP per capita (EUR at PPP)165601863022160...
Gross industrial production, real change in %-5.99.812.7...
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR711798900...
Consumer prices, % p.a.1.22.813.
Fiscal balance in % of GDP-3.8-4.0-2.9-5.0-4.0-3.0
Public debt in % of GDP24.623.922.6...
Current account in % of GDP0.0-1.7-1.4-0.5-0.30.3
FDI inflow, EUR m315420293131...
Gross external debt in % of GDP63.358.051.8...

Basic data are continuously updated.

* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.


Executive summary

Branimir Jovanović
in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. I-VI


Monthly Report No. 7-8/2023

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2023
51 pages including 3 Tables, 24 Figures and 1 Box