Bulgaria\u2019s economy is projected to have grown by 3.1 per cent in 2022, the World Bank said in its January 2023 Global Economic Prospects report, which forecast 1.7 per cent growth in 2023.<\/p>\n
The figure for 2022 is up compared to the 2.9 per cent forecast made in the World Bank\u2019s Europe and Central Asia Economic Update released in October, but still lower than the 3.8 per cent forecast made in last year\u2019s Global Economic Prospects\u00a0report<\/strong>.<\/p>\n The World Bank did not give any country-specific reason for its estimate, but the report said that growth in the Europe and Central Asia region \u201cslowed sharply\u201d as a result of Russia\u2019s invasion of Ukraine.<\/p>\n Still, the economic slowdown in the region was \u201cless pronounced than initially anticipated,\u201d the report said. \u201cInstead of contracting in 2022, output grew at a meager pace\u201d due to stronger-than-projected growth in the euro area in the first half of the year, a quicker-than-expected rebound in international travel, and additional government measures that helped shield households and firms from sharp increases in food and energy prices, the World Bank said.<\/p>\n Economic output in the Europe and Central Asia region was expected to \u201cremain virtually flat in 2023\u201d, the report said. This forecast was reflected in the growth estimate for the Bulgarian economy in 2023, which was unchanged at 1.7 per cent.<\/p>\n That figure was nevertheless higher than the World Bank\u2019s 1.1 per cent average growth projection for the Central Europe sub-region, which includes Bulgaria.<\/p>\n The report said that \u201cthese EU economies face significant spillovers from energy supply disruptions and tight financing conditions. High energy costs and elevated inflation are expected to continue to dampen household spending and raise production costs.\u201d<\/p>\n The World Bank said that the slowdown would be made worse by the weakening external demand, particularly from the euro area, but noted that growth is projected to increase \u201cover the medium term, assuming that reform milestones under NextGenerationEU plans are met, allowing the disbursement of sizable EU investment funds.\u201d<\/p>\n For 2024, the World Bank projected 3.3 % economic growth in Bulgaria.<\/p>\n source: https:\/\/sofiaglobe.com\/<\/p>\n","protected":false},"excerpt":{"rendered":" Bulgaria\u2019s economy is projected to have grown by 3.1 per cent in 2022, the World Bank said in its January…<\/p>\n","protected":false},"author":1,"featured_media":13782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[202,238,239],"tags":[203,627,268,204],"class_list":{"0":"post-13943","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bulgarian-economy-nl","8":"category-business-in-bulgaria-nl","9":"category-doing-business-in-bulgaria-nl","10":"tag-bulgaria-economic-growth-nl","11":"tag-bulgaria-industrial-production-nl","12":"tag-bulgarias-budget-nl","13":"tag-bulgarian-economy-nl"},"_links":{"self":[{"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/posts\/13943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/comments?post=13943"}],"version-history":[{"count":1,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/posts\/13943\/revisions"}],"predecessor-version":[{"id":13961,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/posts\/13943\/revisions\/13961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/media\/13782"}],"wp:attachment":[{"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/media?parent=13943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/categories?post=13943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sr-management.bg\/nl\/wp-json\/wp\/v2\/tags?post=13943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}