8.5% decline of the economy for the second quarter of 2020

8.5% is the decline of the economy in the country for the second quarter of 2020. The decrease is due to the COVID-19 crisis, commented Minister of the Economy Lachezar Borisov on September 24.

However, the decline in the gross domestic product in Bulgaria is far from the EU average, as some member states have reported a decrease of over 20%. According to the minister, the results for Bulgaria in the third and fourth quarters will be much better and our country will start to recover.

The Minister of Economy was in Plovdiv for the certification of a project for more than BGN 30 million in the food industry. He also took part in the signing of a contract for the construction of a road connection worth over BGN 1 million.

The infrastructure is part of another project - for over BGN 20 million, in which a large international company produces certified respirators and protective masks in Bulgaria.

Lachezar Borisov, Minister of Economy: The most important thing at the moment is that despite the crisis, the Bulgarian economy manages to attract investment. Such are the data of the Bulgarian National Bank. The investments for the first 7 months are 1.4 billion euros, and the growth on an annual basis is over 54%. The data of the Ministry of Economy on the certified projects under the Investment Promotion Act are similar. At the moment, certified projects for over BGN 710 million are being implemented, creating more than 3,200 jobs.

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