Bulgaria has pass by a significant transformation over the past 30 years. It has transformed from a communist country, with a highly centralized, planned economy to an open, free market system, upper-middle-income economy and since more than a decade part of the EU.
Every day we heard about the Bulgarian economy, and it’s an important part of our life, because of depending status and expectations of the economy of the country will affects us, directly or indirectly, will be more jobs next year? will the salaries increase? or if is it a good time to invest in property? those are questions that are related and influenced by the economy of Bulgaria.
Today we have tried to show you a bit about the situation of the Bulgarian economy and the expectations for 2021.
The experts’ prognoses that Bulgarian economy after contracting by 4.2% in 2020, GDP is projected to rebound by 3.8% in 2021 and 4.4% in 2022. GDP will return to its pre-pandemic level at the end of 2021. The reopening of the economy will create renewed strength in household demand and business investment, which will replace government spending as the main engine of growth. The economic recovery will be reflected in gradual improvements in the labor market.
BG-economy-2121We all know that Bulgaria isn’t perfect, but for many of us that have been living in Bulgaria long enough, we can see that there is a positive tendency over the years, probably these improvements aren’t as fast as people may like, but in my opinion; the country is definitely better today than how it was 10 years ago.
