Government Consumption in Bulgaria
The economy of Bulgaria recorded an average growth rate of 3.5% in government consumption in the decade to 2024. In 2024, government consumption growth was 4.5%.
Bulgaria Government Consumption Chart
Note: This chart displays Government Consumption (ann. var. %) for Bulgaria from 2024 to 2017.
Source: Macrobond.
Bulgaria Government Consumption Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Government Consumption (ann. var. %) | 8.3 | 0.5 | 8.0 | 1.1 | 4.5 |
Economy grows at a steady pace in Q2
GDP growth at par with Q1’s pace: Preliminary data revealed that seasonally adjusted year-on-year GDP growth remained at Q1’s 3.1% in Q2. Still, growth remained robust, coming in above the post-pandemic average. On a seasonally adjusted quarter-on-quarter basis, economic growth inched up to 0.7% in Q2 from Q1’s 0.6%.
Steady growth despite export decline: Preliminary data showed that on a seasonally adjusted year-on-year basis, final consumption grew 6.5% in Q2 (Q1: +7.1% yoy), while fixed investment rose 6.7% (Q1: +7.4% yoy). Meanwhile, exports of goods and services fell 4.9% in Q2 (Q1: -3.3% yoy), while imports of goods and services swung into a 0.6% decline (Q1: +4.6% yoy).
Panelist insight: EIU analysts said: “Bulgarian economic growth is projected to remain among the strongest in the EU in 2025-29, underpinned by robust real wage gains and rising investment. […] The formation of a new government in January, following a prolonged period of political uncertainty, is likely to accelerate the absorption of EU funds and boost public spending. […] We are in the process of revising up our forecast for real GDP growth [in 2025], supported by strong private consumption and a rebound in investment.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Bulgarian government consumption projections for the next ten years from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable government consumption forecast available for Bulgarian government consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Bulgarian government consumption projections.
Want to get access to the full dataset of Bulgarian government consumption forecasts? Send an email to info@focus-economics.com.
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