News

On March 20, 2024, the IME presented the English version of "Regional Profiles: Indicators of developments - 2023" to embassies and bilateral chambers in Sofia. Interest was high again. We presented the general economic situation, regional challenges and some regional data on the performance of the justice system by location.

The municipalities of Pleven and Lovech are recovering relatively quickly from the economic crisis, under the influence of the positive dynamics of industry and agriculture. However, the labor market is lagging behind, with high unemployment and low employment. Education in the region remains at a lower level, and demographic dynamics continue to be markedly negative.

NSI publishes data on the economic development of districts in 2022 The unprecedented growth of Stara Zagora, due to the energy crisis and the subsequent increase in demand and prices for electricity produced in the region, as well as the stable development of regions with a strong manufacturing industry, such as Plovdiv and Sofia (region), come to the fore. At the same time, there is a new realignment among the regions with the least development.

In 2024, Bulgaria's economy is expected to grow by nearly BGN 15 billion and reach over BGN 205 billion. This is 7.7% nominal growth, the result of both real growth and inflation. The growth of the economy and inflation also bring more revenues to the state treasury - the revenues of the national budget alone (excluding EU funds) are expected to increase by nearly BGN 5 billion. In recent years, about 42% of the country's economy has been concentrated in Sofia.

Labour demand remains high in 2023, but highly unevenly distributed across regions of the country and occupations.

Investment data by region for 2022 show a serious stirring of regional economies. While total investment, as measured by expenditure on acquisition of tangible fixed assets, is rising in almost the whole country (except in Razgrad district - details below), there are significant differences between districts in external investment. In as many as seven districts, cumulative foreign direct investment declines towards the end of 2022 compared to the end of the previous year - Vidin, Vratsa, Pleven, Silistra, Burgas, Stara Zagora and Blagoevgrad.

Two weeks ago, the IME, in partnership with "24 Chasa", held the first meeting of the local and executive authorities within the "Municipalities - perspective 2027" format. TheIME team presented the latest findings from the research on regional profiles and economic centers in the country, focusing on financial decentralization and the work of local authorities to attract investments. During the event, calculations were also presented on the effects of the possible transfer of 1/5 of the income from the taxation of the income of natural persons to the municipalities