Stagflation fears
MEDIUM RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP | USD 80.27bn (World ranking 71, World Bank 2021) |
Population | 6.9mn (World ranking 106, World Bank 2021) |
Form of state |
Parliamentary republic |
Head of government | Galab DONEV (caretaker Prime Minister) |
Next elections | 2026, presidential and legislative |

- EU membership and good international relations
- Currency board has withstood global turbulence since 2008 and BGN is currently not overvalued
- History of prudent fiscal policies
- Comfortable external finances
- Generally adequate business environment

- Slow progress on EU-required judicial reform and anti-corruption measures
- Government instability
- Public discontent about living standards
- Vulnerability to external shocks due to high export dependency
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Germany
14.9%
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1 |
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Romania
10.1%
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2 |
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Italy
7.6%
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3 |
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Greece
6.6%
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4 |
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Türkiye
6.2%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Non-ferrous metals
10.9%
|
1 |
7.8%
Electrical machinery, apparatus and appliances, n.e.s.
|
Electrical machinery, apparatus and appliances, n.e.s.
9.6%
|
2 |
6.7%
Petroleum, petroleum products and related materials
|
Cereals and cereal preparations
5.8%
|
3 |
6.5%
Metalliferous ores and metal scrap
|
Metalliferous ores and metal scrap
4,2%
|
4 |
5.2%
Road vehicles
|
Articles of apparel & clothing accessories
3.4%
|
5 |
4.6%
Medicinal and pharmaceutical products
|
LATEST NEWS ABOUT BULGARIA
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Swiss shotgun wedding – What’s next?
24 March
What to watch: US Fed's interest rate path, France's political & social crisis, EU electricity markets
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Centrifugal emerging markets
23 March
While the global financial system remains dominated by advanced economies (and anchored to the US monetary regime), it will be increasingly shaped by faster-growing emerging market economies.
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Mind the gap: the USD30trn global liquidity gap is here to stay as payment behaviors likely to deteriorate in 2023
16 March
Global Working Capital Requirements for listed companies increased by +9 days to 72 days of turnover in 2022 – the largest annual increase since 2008.
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