National Statistical Institute

In October, annual harmonized inflation in the European Union increased to 2.3%, with the Eurozone reporting a rate of 2.0%, according to Eurostat data. Inflation rates in both the EU and the Eurozone have risen compared to the previous month, with the September figures at 2.1% and 1.7%, respectively.

Tourism in Bulgaria experienced a notable loss in its workforce during the peak summer season. Official figures from the National Statistical Institute (NSI) show that the sector shed 11.5% of its employees, while the overall economy saw a smaller decrease of 1% compared to the previous quarter.

At the close of the third quarter in 2024, Bulgaria saw a slight decrease in both employment numbers and average wages, according to data from the National Statistical Institute (NSI). The total number of people employed in labor and service roles dropped by 22,800, or 1%, from the previous quarter, bringing the total workforce to 2.33 million.

young people in Bulgaria today exhibit a higher level of education but tend to marry less frequently and have fewer children compared to their peers since the onset of democratic changes in the late 1980s and early 1990s. Currently, this demographic primarily finds employment in the service sector and in business and administrative roles.

During the first two quarters of 2024, Bulgaria saw a consistent increase in stroke cases by 1.3% to 1.5%, indicating a projected annual total of nearly 50,500 cases—over 600 more than in 2023. According to the National Center for Public Health and Analysis, there were 49,853 registered cases in 2023, with more than 1,500 patients unable to access treatment.

According to Assoc. Dr. Atanas Atanasov, chairman of the National Statistical Institute (NSI), periods of high inflation in Bulgaria are now a thing of the past. In an interview with BTA, he emphasized that the country is experiencing a clear trend of declining inflation rates, which are currently lower than the Eurozone average.

Fitch Ratings has confirmed Bulgaria's long-term credit rating at BBB with a positive outlook. The agency highlighted that the rating is bolstered by the country's robust external and fiscal position when compared to similarly rated nations, as well as the stable political framework provided by EU membership and the enduring currency board regime.

Inflation in Bulgaria experienced a significant slowdown in September, dropping to 1.2% from 2.1% in August, marking the lowest rate since March 2021, according to the National Statistical Institute (NSI). Compared to August, a deflation of 1% was recorded, following a slight rise of 0.1% in the consumer price index during the previous month.

Property prices in Bulgaria continue to experience significant growth, with data from the National Statistical Institute revealing a 15.1% increase over the past 12 months leading up to June 2024. In the second quarter of the year alone, prices rose by 3.4%.

In August 2024, Bulgaria's construction sector experienced a production index increase of 1.7% compared to July and 5.5% compared to the same month last year, according to the National Statistical Institute.