The Bulgarian economy is doing well
Despite the recession, Bulgaria grew by 1.1% in the second quarter compared to January-March 2022, when it recorded a growth of the same value as the last quarter of 2020.
GDP growth in the Eurozone and EU-27 in the second quarter of 2022 is 0.6% compared to January-March of this year. On an annual basis, GDP in the Eurozone grew by 3.9% compared to April-June 2021, and for the EU-27, a growth of 4.0% was reported. Both indicators are lower than the growth of Bulgarian GDP.
With Eurostat data, Bulgaria is in eighth place in terms of annual GDP growth in the EU. We are ahead of the Netherlands and Romania (+5.3% each), Cyprus (+6.1%), Spain (+6.3%), Hungary (+6.5%), Portugal (+6.9%) and Slovenia (+8.3%).
According to the first indicator every quarter, for which there are data in “Eurostat”, Bulgaria shares fourth place with Spain and Hungary (+1.1%), exceeded by Sweden (+1.4%), Romania (+2.1%) and the Netherlands (+2.6) percent).
U.S. GDP fell 0.2 percent in the second quarter compared to the first quarter of this year, when it fell 0.4 percent. On an annual basis, however, the U.S. economy grew by 1.6 percent in April-June, and by 3.5 percent in January-March.