According to the Bank’s analysis, the Bulgarian economy records steady growth despite uncertainty.
The new US trade duties are not expected to have a significant negative impact on the Bulgarian economy, and if there is an impact, it will be felt by businesses in Bulgaria with a slight delay, according to DSK Bank’s spring macroeconomic analysis.
According to the Bank’s analysis, the Bulgarian economy records steady growth despite uncertainty.
The effect of new US duties will be indirect because Bulgaria does not have a large volume of trade with the US, 2-3% of all exports. The negative effects are linked to Bulgaria’s trade partners in Germany and Italy, which are on the list of “victims” of duties. The automotive and engineering are the areas that are expected to be affected by US duties. According to the analysis, the positive side of this hectic situation is the opportunity to be opened for the trade of the European Union and Bulgaria to broaden their geographical perspective.
The bank notes that last year the Bulgarian economy has recorded stronger economic growth, one of the highest among EU members. As a result, convergence with the European average continues, although conditions allow a faster “closure of the gap”. By the end of 2024, the Bulgarian economy was growing at 4.1% compared to 1.2% in the eurozone.
Source: Skai
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