Bulgaria: reforms to improve competition, governance and skills would strengthen the recovery from COVID-19 , says the recovery from the economic shock caused by COVID-19 will take time. As an open economy specialised in manufacturing exports, Bulgaria remains exposed to further shocks to external demand, even though prudent management of public finances has put the country in a solid position to provide continued support. There is also room for investment in areas like transport, energy and digital infrastructure, which would invigorate the recovery.
“The COVID-19 crisis has hit Bulgaria in a period of robust economic growth and rising incomes. Getting through this crisis and coming out in stronger shape will require continued support to people and businesses as well as investment and reforms to drive productivity and raise living standards for all Bulgarians,” said