GDP for 2022, obtained as the sum of quarterly data, increases in real terms by 3.4 percent compared to 2021, preliminary data from the National Statistical Institute show. For 2022, GDP reaches a nominal value volume of BGN 165.384 billion. Converted into US dollars at an average annual exchange rate of BGN 1.861798 for 1 US dollar, GDP amounts to 88.83 billion dollars. BGN 24,252 of the indicator's volume, or $13,026, per person. Converted into euros, GDP is 84.559 billion euros, corresponding to 12,400 euros per person. The gross added value amounts to BGN 145.614 billion. The real value volume of the indicator is 3.4 percent higher compared to the one reached in 2021. The industrial sector creates 29.5 percent of the added value of the economy, which is an increase of 5.7 percentage points compared to 2021. The services sector decreased to 65.5 percent, at 71.2 percent in 2021, and the agricultural sector remained unchanged - 5 percent of the added value. In the fourth quarter of 2022, gross domestic product (GDP) grew by 2.3 percent and gross value added (GVA) by 2.8 percent, compared to the fourth quarter of 2021.

Bank fees in Bulgaria have risen by 20-30% - opening and maintaining a current account, depositing and withdrawing money over the counter, as well as various bank transfers, BNB data show. The fee for opening a current account for one year has risen to an average of BGN 3.18 - a year ago the average rate was BGN 2.52. If the account also has a debit card, the opening fee has increased from BGN 1.57 to an average of BGN 2.15. The monthly maintenance of the current account has also become more expensive if there is no debit card attached to it - the banks charge an average of BGN 3.73 per month for servicing the account, while a year earlier the fee was BGN 3.37. If it is included in a package with a debit card, the monthly fee in 2022 slightly drops from BGN 2.45 to BGN 2.37, and this is the only service for which a decrease in price is reported. Depositing and withdrawing money from an account has become more expensive over the last year. If in 2021 an average fee of BGN 0.87 was charged for deposits of up to BGN 3,111, in it is now BGN 1.20, and the ceiling of the amount has been lowered to BGN 3,064. Above this amount, banks charge an average of 0.23%, but no less than BGN 2.50. For cash withdrawals from a checking account over the counter, the fee is BGN 3.55 on average for amounts up to BGN 1,000, but for larger amounts the fee becomes much higher - 0.58% of the withdrawn amount, but not less than BGN 6.50. Last year, banks charged an average fee for withdrawing money from an account from 0.48% of the amount and a minimum of BGN 4.38. In the last year, the fee for withdrawing money from an ATM was significantly increased. In 2021, for example, banks charged an average of 26 cents for this when using their own ATMs and BGN 1.14 when withdrawing money from another bank's ATM. A year later, however, a fee was introduced, which is now a percentage of the withdrawn amount, and this made the service significantly more expensive - 0.13% and a minimum of BGN 0.30 for one's own ATM, and 0.18% and a minimum of BGN 1.39 for withdrawing money from a foreign ATM. Fees for bank transfers ordered over the counter have also increased. On paper to a payment account with the same bank, the average price of the service is BGN 3.05 compared to BGN 2.34 a year ago. If the transfer is to a payment account at another bank, the fee is BGN 4.90 on average compared to BGN 4.11 a year ago.

Kaufland Bulgaria is a leader in the trade sector in Bulgaria with an annual turnover of nearly BGN 1.9 billion and one of the largest employers in the country with a team of nearly 6,600 employees. In 2023, the company has 63 hypermarkets in 35 cities. Over the past 17 years, the company has realized BGN 1.7 billion investments in fixed assets. From 2006 until now, the salaries paid by the company amount to BGN 932 million. The average number of items in each of the 63 stores across the country is up to 20,000, with 87% of them from Bulgarian manufacturers or suppliers. BGN 1.46 billion are the taxes paid to the state and BGN 307 million are the insurance paid to the employees for the same period.

The manufacturer of light and medium-weight women's clothing "Antoine Ville" has started the construction of a new distribution center in Ruse. The new building will comply with the requirements for energy efficiency and autonomy of the energy supply, while at the same time it will be a modern distribution center, enabling the highly efficient work of those working in it. It is planned that it will have a total area of about 1200 square meters. m and to be completed by the end of June this year. The company's clients are from Germany, Belgium, France and Italy. The sole owner of the capital is Antoineta Antonova. The company is in the top 10 among the most dynamic small and medium enterprises for the Ruse region for the period 2019-2020. rousse.info

The European Bank for Reconstruction and Development (EBRD), which is a minority owner in Euroins Insurance Group, has hired an international consulting agency to urgently, by the end of March, prepare an independent report on the solvency of Euroins in Romania. The EBRD is a shareholder with a 10% stake in the Eurohold insurance company. The EBRD also informs the Romanian institutions that they support the management of "Euroins" in the decision to reduce its planned market share in the country's car insurance below 25%.

At the general meeting of shareholders of "Stroyinvestholding" JSC - Sofia /in liquidation/, decisions were made regarding the extension of the term for liquidation and distribution of the company's assets. The deadline for completing the procedure has been extended to June 30 this year. The General Assembly decided to distribute property representing a sum of money in the amount of BGN 37,528.80. The gross liquidation share of one share of BGN 0.10 has been determined. Investors who are registered in the book of shareholders of the holding company as of March 21 will receive a payout, starting from April 3. Shareholders who have an account with an investment intermediary will receive their money through it. The payment of the liquidation share for the rest will be made through Glavbolgarstroy. The majority shareholder in the former privatization fund is "Glavbolgarstroy" JSC. The general meeting of shareholders of "Stroyinvestholding" JSC - in liquidation, held on May 31 last year, decided not to distribute a dividend from the company's profit in 2021, since the financial result of its operation then was a loss.

The company "Mini Maritsa-East" has announced its intention to buy technical equipment for railway transport from the "National Electric Company". The market value of the equipment, according to data as of November 10, 2022, is BGN 1,253,928. By purchasing the equipment from "Mini Maritsa-East", they want to secure the production process related to the supply of energy fuel to the thermal power plants by rail in order to guarantees quality and timely execution of their supply contracts. The deal will be done through direct negotiation. This possibility is regulated in the Regulations for the implementation of the Law on Public Enterprises. The texts state that the starting price for the sale is determined by an independent appraiser, following a decision by the Council of Ministers.

Greek toy retailer Jumbo reported that its sales in Bulgaria increased by 45% year-on-year in January and February, matching the strong start to the year for the whole group with an average annual sales growth of 40%. Overall, the retailer's 2022 sales rose 14.12% year-on-year to €949m. expects sales growth of 15% in 2023. With an expected gross margin of around 54%, Jumbo expects a net profit of 270-275 million euros for 2023.

"Sin Cars Industry" JSC ended 2022 with a loss of BGN 231 thousand. The total revenue of the company at the end of 2022 amounted to BGN 1,825 million compared to BGN 1,215 million at the end of 2021, increasing by 50.2%. At the same time, the company's total expenses amounted to BGN 3,222 million at the end of 2022 compared to BGN 1,953 million at the end of 2021, or increased by 64.97% on an annual basis. The company has started manufacturing the cars it agreed to sell last year. Parts and components have been procured until the end of 2022. Last year, Sin Cars Industry tried to raise its capital through the BSE-Sofia BEAM market, but failed to raise the required minimum funds. The funds were to be used to complete the company's base in Ruse and build the new production base in Romania. The company announced then that it would restructure, create a holding structure and list in Amsterdam. In the last year, the shares of "Sin Cars Industry" have increased in price by almost 34%.

The European Commission has recommended that governments begin to freeze energy aid payments as energy prices fall and the peak of the crisis is over. In guidance for the preparation of the 2024 budgets, the Commission says that the suspension of the payment of state aid should start with measures that target all businesses, regardless of whether and to what extent individual sectors are actually affected by the increased prices. As the EU labor market is very tight, continued fiscal stimulus will only work to fuel inflation rather than economic growth, European Commission Senior Vice President Valdis Dombrovskis said. Ending state aid will be discussed by finance ministers on March 14, but Dombrovskis said the Commission has already spoken to ministers several times about the need to end aid. Bulgaria introduced energy compensation for all businesses last May. Then Kiril Petkov's office decided that the government would cover 80% of electricity prices for businesses when the price per megawatt hour exceeds BGN 200. The Commission confirmed that the so-called "General Exemption Clause" would be canceled at the end of the year. , which was introduced at the beginning of the COVID-19 pandemic. It allows European governments to deviate from the budgetary parameters, such as public debt, budget deficit, inflation, required by the EU's Stability and Growth Pact to help each other in the crisis by stimulating the economy and paying to save jobs. The measure was maintained even after the start of the war in Ukraine. The Commission will not proceed with corrective measures this year, but will do so next spring, based on indicators from state budgets for 2023. The disciplinary measure is initiated against countries experiencing a budget deficit greater than the EU limit of 3 % of GDP. The absence of an excess deficit procedure is one of the criteria that must be met by countries applying to adopt the euro. According to the forecasts of the Bulgarian Ministry of Finance, the budget deficit in 2023 is expected to reach 6.6% of GDP.

China's consumer price inflation eased markedly in February on weak demand after the Lunar New Year holiday and further deepening of producer price deflation, DPA reported. Consumer prices rose 1 percent year-on-year in February after a 2.1 percent pace in January, the Office for National Statistics reported. This was the slowest rate of price increase since February last year and almost twice the 1.9 percent expected by economists. Core inflation, which excludes highly volatile food and energy prices, slowed to 0.6 percent from 1 percent in January. On a monthly basis, consumer prices fell by 0.5 percent, although expectations were for growth of 0.2 percent after a rise of 0.8 percent the previous month. Chinese authorities aim to keep consumer inflation at around 3 percent. It is expected to accelerate in the coming months after the economy opens, although it is unlikely to reach the pace reported in other post-opening economies. At the same time, producer prices continued to decline - by 1.4 percent in February after falling by 0.8 percent in January, the statistics agency said.