EC: Inflation in Bulgaria will soon decline
The European Commission expects Bulgaria's GDP to grow by 1.4% in 2023 and by 2.5% in 2024. The state of the economy is expected to depend mainly on the interaction between wage and price dynamics, according to the EC's winter economic forecast.Short-term indicators and inflation data suggest that inflation will decline gradually over the forecast horizon, as service price increases will persist.
The rapid increase in exports in 2022 was supported by the opportunity to meet EU-wide shortages of food supplies, metals and other material products caused, among other things, by Russia's war against Ukraine, the European Commission said. Export growth is forecast to decelerate significantly in 2023, given that the factors to spur export market share have been largely exhausted in 2022.
Numerous, yet smaller mergers and acquisitions
A higher number of transactions, but at a lower total value, dominated the M&A market in Bulgaria in 2022. According to the survey, 72 contracts were signed in the country last year compared to 70 in 2021. Their total value was 1.43 billion euros, compared to 1.91 billion euros in 2021. Volumes remain significantly lower than the pre-crisis levels of 2018 and 2019, when deals of more than 2 billion euros were concluded annually.
Business digitization continues to be among the main drivers of M&A activity. This is the third year in a row in which most deals were concluded in the Telecoms and Information Technologies sector.
Cinemas draw BGN 42 million in revenue
Cinemas in Bulgaria experienced a sharp decline in revenue compared to 2018 and 2019 after the onset of Covid in 2020. But the sector quickly recovered from lockdown closures and in 2021 viewers increased to 2.55 million, while revenues from ticket sales reached BGN 24.68 million. In 2022 more than 3.96 million people visited movie theaters, bringing revenues of BGN 41.89 million. This is an increase of 55% and 70% compared to 2021 and closer to the results from 2019 - 5.01 million viewers and BGN 49 million in revenue.