Bulgaria Economic Forecast

Bulgaria Economic Outlook

September 8, 2020

GDP contracted at a record-breaking pace in Q2 as the economy felt the full brunt of the Covid-19 health crisis and related containment measures. Q2’s downturn was largely driven by plunging fixed investment amid depressed business confidence, while falling exports reflected frail European demand and disrupted global supply chains. Turning to Q3, available data paints a brighter picture, with the economic sentiment indicator strengthening in July–August on improved confidence in the services and retail trade sectors. Moreover, the country is poised to receive a EUR 511 million loan under the EU’s SURE scheme to help cover the costs of unemployment spending. Meanwhile, in politics, on 28 August justice minister Danail Kirilov became the fifth consecutive minister to step down since July, following nearly two months of anti-corruption protests and demands for the government’s resignation.

Bulgaria Economic Growth

GDP is set to shrink markedly this year as the pandemic takes its toll. Containment measures at home will constrain household and capital spending, while muted European demand will hammer the external sector. Although fiscal stimulus should cushion the blow, potential new virus flare-ups pose a key risk. FocusEconomics panelists see the economy contracting 5.1% in 2020, which is up 0.4 percentage points from last month’s forecast, before growing 4.7% in 2021.

Sample Report

5 years of Bulgaria economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Bulgaria Facts

Value Change Date
Bond Yield0.400.0 %Dec 31

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Bulgaria Economic News

Search form