Bulgaria Among Top EU Economies with 2.2% Year-on-Year Growth

In the third quarter of 2024, Bulgaria's economy expanded by 0.5% compared to the previous quarter, placing it among the top five EU member states for economic growth during this period. The European Union's overall economic output grew by 0.3% in the same timeframe, while the eurozone economy saw a slightly stronger increase of 0.4%. This marked the third consecutive quarter of growth for the EU economy, continuing its recovery from earlier slowdowns.

On an annual basis, Bulgaria's GDP grew by 2.2% in the third quarter of 2024, making it one of the top performers in the EU. Only Cyprus, with a growth of 3.8%, Spain (3.4%), and Lithuania (2.3%) posted higher year-on-year growth rates. In comparison, the overall EU GDP grew by 1.0% and the eurozone's output increased by 0.9% year-over-year, showing steady economic progress across the region.

Ireland recorded the highest quarter-on-quarter GDP growth in the EU, with a 2.0% rise, followed by Lithuania (1.1%), Cyprus (1.0%), and Spain and the Netherlands, both at 0.8%. Meanwhile, several countries, including Hungary (-0.7%), Latvia (-0.4%), Poland (-0.2%), and Sweden (-0.1%), saw economic contractions during the same period.