Inflation falls to 16.4%
After two months of little movement, inflation slightly decreased to 16.4% this January thanks to a slowdown of price growth in food and household services. After a period of stabilization of fuel prices, however, they are rising yet again. Also sectors such as health care and education are seeing increases for users. However, the numbers reinforce the view that inflation peaked last year and will gradually slow but likely remain in double digits in coming months.
Despite high inflation, Bulgaria's economy continued to grow, expanding by 2.1% in the last quarter of 2021, according to data from the NSI. The breakdown shows that consumption is the leading driver of growth, and is even slightly accelerating compared to the third quarter.
Businesses can apply for free RES and batteries
Businesses have until May 15 to apply for free construction of RES, and batteries for local energy storage. The measure is administered by the Ministry of Innovation and Growth (MIR). The digital application portal opened last night.
The measure is aimed at micro, small, medium-sized companies, which can receive grants ranging from BGN 75,000 to BGN 1 million.
Road maintenance costs increase by BGN 1.4 billion
For the fourth time in a year, the Road Infrastructure Agency (API) has announced a public procurement for the maintenance of national roads and highways in the country.
The estimated figures appear to have increased significantly compared to April 2022. Just a few months ago, the orders were worth BGN 2.3 billion in total, and now they are estimated to be around BGN 3.7 billion. That's roughly a 60% increase in prices, which is well above the overall inflation for the year according to the NSI (at around 17%) and is likely due to more than just a mechanical increase in the price of materials and services.