Bulgarian National Bank: The Economy is Slowing Down

The Bulgarian economy is showing signs of slowing down, according to the quarterly publication Economic Review by the Bulgarian National Bank (BNB). In contrast, food inflation continues to accelerate, reaching 6.4% from the beginning of the year to May. For comparison, it stood at 2.7% in December last year.

Overall, consumer spending has increased by 8.5%, the BNB analysis indicates.

In terms of external trade, Bulgaria’s real exports of goods and services have declined on a quarter-on-quarter basis. The central bank anticipates that, due to the slowdown in global economic activity and recent customs policy decisions by the United States, demand for Bulgarian goods is likely to decrease.