Bulgaria's annual inflation rate is expected to slow to 0.8% by the end of the year
According to the prediction of Bulgaria's central bank, the country's economy may shrink by about 8.5% in 2020, with the most serious up to 13%.
Affected by the novel coronavirus pneumonia, the second quarter of 2020 has witnessed the most severe recession in the history. The possibility of maintaining this year's GDP is between - 4.1% and - 13.1%, and it is most likely to shrink by 8.5%. The main reason is that consumption and investment are shrinking and exports are weakening.
According to the analysis, from 2021 to 2022, economic activities will gradually recover, and by the end of 2020, the real GDP will return to the level of 2019. During this period, strong growth in private consumption, commodity exports and public investment will make the greatest contribution to economic growth. It is expected that by the end of 2020, the annual inflation rate will significantly slow down to 0.8%, accelerate to 1.4% by the end of 2021, and maintain a similar level in 2022 as in 2021.