At the Ministry of Economy, on the one hand, we have an analysis prepared jointly with the Economic Research Institute at the Bulgarian Academy of Sciences, which specifically assesses the impact and expected effect of the United States tariffs on the Bulgarian economy. We have already started working with our trade representatives abroad in terms of seeking new markets and strengthening existing ones, in order to offset the expected losses caused by the higher American tariffs. This was stated by the Deputy Minister of Economy and Industry, Dontcho Barbalov, in an interview for BNT.
“In the autumn, we will continue working with the business sector to provide support in this regard. Naturally, from the outset it should be said that our trade with the United States is not that significant. At present, our trade is dominated by the European Union. Trade with the EU is two and a half times higher compared to that with all other countries combined. In practice, imports from the United States amount to about 2%, while exports stand at just over 3%,” said Deputy Minister Barbalov.
Dontcho Barbalov also commented on whether the authorities are managing the process of introducing the euro in Bulgaria: “I believe that with the latest amendments to the Euro Act, the state has reaffirmed its position as an arbiter in the process of introducing the euro and in the market relations that will change in connection with this process. Therefore, matters are developing in a positive direction. As you know, with the legislative changes, the period for dual price display was shortened – now from 8 August this year until 8 August 2026, with no sanctions to be imposed until 8 October, only instructions to be issued. I believe this is a positive measure that supports businesses. In fact, this was one of the business sector’s requests, which has been met,” stated the Deputy Minister of Economy.