In 2021, the percentage growth of the country’s Gross Domestic Product is the highest since 1995. This was announced by the Minister of Economy and Industry Nikola Stoyanov at the opening of the Fourth National Scientific Forum “Business in the 21st Century”, organized by the University of National and World Economy (UNWE).
“Good macroeconomic indicators cannot make us happy if we do not control the growth of product prices. That is why I am glad that with everything done by our government in such a short time, last month we achieved a first small victory in this area. For the first time in October, 2022, a drop in monthly inflation was recorded”, the Minister of Economy and Industry emphasized. It became clear from his words that this is the first reduction after a nearly 2-year period of growth.
Minister Stoyanov commented that despite the crises, unemployment in the country remains at low levels, and foreign direct investments in our country for 2021 reached 1.21 billion euros. “Despite these data, the European economy showed a high dependence on goods and raw materials from third countries, and this once again emphasizes the importance of the issue of achieving strategic autonomy and the diversification of supplies”, Stoyanov explained.
According to the Minister of Economy and Industry, the crises with energy sources, supply chains and food prices are a huge test for our economies, and place even greater expectations on the Recovery and Resilience Mechanism as a support tool. “That’s why today we have to work even faster and implement the best solutions, so that we can multiply every euro invested in our economy many times over”, Nikola Stoyanov said. He emphasized that it is of key importance that the scientific community, business and administration work in close coordination, and that Bulgaria makes consistent efforts to develop a knowledge-based economy.
The forum was organized jointly with the Union of Economists in Bulgaria, the Innovations and Competitiveness Research Centre for the Development of Business Competences and the Centre for Industrial Research and Innovation. It was also attended by the Rector of UNWE Prof. Dr. Dimitar Dimitrov, the Dean of the Faculty of Business Prof. Dr. Dimitar Blagoev, as well as the chairman of the Association of Industrial Capital in Bulgaria, Vasil Velev.