Economic Growth in Bulgaria
Growth
Source: Ministry of Economy, Investments and Industry: Macroeconomic bulletin, May 2026; European Commission: Report on Bulgaria under Article 126(3) of the Treaty, 20262,5
The economy shrank by 3.1% in 2020, during the pandemic, and has grown every year since. The European Commission expects growth of 2.5% in 2026 and 2.2% in 2027.2,5
Catching up
GDP per head, adjusted for price differences, was 68% of the EU average in 2025, level with Greece. Because prices are low, incomes buy more than the exchange rate suggests.4
| Exports of goods, 2025 | €43.0 billion |
|---|---|
| Imports of goods, 2025 | €53.8 billion |
| Main export markets | Germany, Romania, Turkey, Italy, Greece |
| Foreign direct investment, 2025 | About €3.2 billion |
Source: Bulgarian Chamber of Commerce and Industry: Bulgaria in Figures 2026; BTA: Foreign direct investment in Bulgaria rose 14% in 2025 (BNB)1,6
Public finances
| % of GDP | 2025 | 2026 forecast | 2027 forecast |
|---|---|---|---|
| Government deficit | 3.5 | 4.1 | 4.3 |
| Government debt | 29.9 | 32.3 | 35.5 |
Source: European Commission: Report on Bulgaria under Article 126(3) of the Treaty, 20265
Debt is the fourth-lowest in the EU, after Estonia, Luxembourg and Denmark. The deficit, however, is above the EU limit of 3% of GDP, and the European Commission has begun the excessive deficit procedure; the government has made cutting the deficit a priority.3,5,7
Prices and money
- Consumer prices rose by 5.6% in the year to September 2026.
- Unemployment was 3.5% in August 2026.
- The euro replaced the lev on 1 January 2026; the currency board that had tied the lev to the euro since 1999 ended with it.
- S&P rates Bulgaria BBB+ with a positive outlook; see the fact sheet on credit ratings for the other agencies.
Source: BTA: Inflation of 5.6% a year in September 2026 (NSI); Eurostat: Euro area unemployment, August 2026; European Central Bank: Bulgaria joins the euro area; S&P Global Ratings: Bulgaria outlook revised to positive, May 20268,9,10,11
Frequently Asked Questions
How fast did Bulgaria’s economy grow in 2025?
Bulgaria’s real GDP grew by 3.1% in 2025. The European Commission forecasts growth of 2.5% in 2026 and 2.2% in 2027.
How much government debt does Bulgaria have?
Bulgaria’s government debt was 29.9% of GDP at the end of 2025, the fourth-lowest share in the EU. The European Commission forecasts it will rise to 32.3% in 2026 and 35.5% in 2027.
What is Bulgaria’s government budget deficit?
Bulgaria’s government deficit was 3.5% of GDP in 2025, above the EU limit of 3%. The European Commission forecasts deficits of 4.1% in 2026 and 4.3% in 2027, and has begun the excessive deficit procedure.
What is Bulgaria’s GDP per head compared with the EU average?
Bulgaria’s GDP per head, adjusted for price differences, was 68% of the EU average in 2025, level with Greece. Because prices are low, incomes buy more than the exchange rate suggests.
How high is inflation in Bulgaria in 2026?
Consumer prices in Bulgaria rose by 5.6% in the year to September 2026, an annual increase rather than a monthly change.
Does Bulgaria use the euro?
Yes, Bulgaria uses the euro, which replaced the lev on 1 January 2026. The currency board that had tied the lev to the euro since 1999 ended when the euro was adopted.
Sources
- Bulgarian Chamber of Commerce and Industry: Bulgaria in Figures 2026 (PDF)
- Ministry of Economy, Investments and Industry: Macroeconomic bulletin, May 2026 (PDF)
- Eurostat: Government debt at the end of 2025
- Eurostat: GDP per capita in purchasing power standards, 2025
- European Commission: Report on Bulgaria under Article 126(3) of the Treaty, 2026 (PDF)
- BTA: Foreign direct investment in Bulgaria rose 14% in 2025 (BNB)
- National Assembly: Rumen Radev elected Prime Minister, government priorities (8 May 2026)
- BTA: Inflation of 5.6% a year in September 2026 (NSI)
- Eurostat: Euro area unemployment, August 2026
- European Central Bank: Bulgaria joins the euro area
- S&P Global Ratings: Bulgaria outlook revised to positive, May 2026
Figures checked 13 October 2026. Prepared by InvestBulgaria for general information. It is not investment, tax or legal advice; please confirm details with a qualified adviser before acting.
