EU Commission cuts growth forecast
The economy is expected to grow by just 2% in 2025, a noticeable slowdown from the 2.8% growth recorded in 2024, according to the European Commission's spring economic forecast. This makes the EC one of the more conservative institutions regarding Bulgaria's outlook, while most local and international bodies project GDP growth between 2.5% and slightly above 3%. Earlier this month, Bulgaria's Ministry of Finance raised its own forecast to 3%, up from a previous estimate of 2.8%.
Compared to its autumn forecast, the EC revised its projections downward by 0.9 percentage points for both 2025 and 2026, citing weaker economic activity after last year's growth, which was driven by strong consumer spending, rising real wages, higher employment, and increased social transfers.
Burgas launches major industrial park project
A major industrial project in Burgas-one of the 11 initiatives selected for funding under Bulgaria's Recovery and Resilience Plan in 2024-will be accessible by air, sea, and land. The "Industrial and Logistics Park Burgas South-West" requires a VAT-excluded investment of 41.15 million levs, as detailed in a public procurement notice issued on April 3, with a deadline of May 13.
The project includes the construction and reconstruction of access roads and internal infrastructure, with all activities expected to be completed by the end of 2026. A central focus is the upgrade of "Targovska" Street, which will serve as the park's main artery, undergoing full rehabilitation, new parking and bike lanes, and overhauled drainage and street lighting systems to support increased traffic and industrial use.
Mitiska REIM expansion starts
Bulgaria now has 60 retail parks with a combined area of 594,000 sq. m-about 75% of the total space of all existing malls-with 11 more currently under construction, according to Cushman & Wakefield Forton. Originally built on city outskirts for convenient car access, retail parks are now moving into urban areas, aligning with the 15-minute city concept that promotes access to essential services within walking distance.
A prime example is the newly launched Estrea Park in Sofia's Hadzhi Dimitar district, the first of ten planned parks by investors Mitiska REIM (Belgium), Park Lane Developments (Bulgaria), and the European Bank for Reconstruction and Development (EBRD). This marks the first entry of foreign players into Bulgaria's retail park sector in years, highlighting growing demand for modern, sustainable retail spaces amid rising consumer incomes.
EU Commission cuts growth forecast
The economy is expected to grow by just 2% in 2025, a noticeable slowdown from the 2.8% growth recorded in 2024, according to the European Commission's spring economic forecast. This makes the EC one of the more conservative institutions regarding Bulgaria's outlook, while most local and international bodies project GDP growth between 2.5% and slightly above 3%. Earlier this month, Bulgaria's Ministry of Finance raised its own forecast to 3%, up from a previous estimate of 2.8%.
