Bulgaria
Bulgaria, an upper-middle-income country in Eastern Europe, has demonstrated economic resilience and steady growth despite recent challenges. The country has a diversified economy, with strong sectors in manufacturing, services, and agriculture, supported by ongoing economic reforms, strategic investments, and EU integration initiatives.
In 2023, Bulgaria’s GDP grew by 1.8%, affected by contracting exports and reduced inventory accumulation. Economic growth is projected to accelerate to 1.9% in 2024 and 2.9% in 2025, driven by export recovery, robust domestic demand, and increased private and public investment.
Inflation is expected to decline from 8.6% in 2023 to 3.1% in 2024 and 2.6% in 2025, as energy and food prices stabilize. The unemployment rate is forecast to remain stable at 4.3% in 2024 and decrease slightly to 4.0% in 2025, reflecting a strengthening labor market.
Bulgaria’s fiscal deficit may rise slightly to 2.8% of GDP in 2024, driven by higher public wages and pensions, while fiscal discipline, strategic investments, and EU funding support sustainable economic growth and long-term financial stability.
Top banks
UniCredit Bulbank
UniCredit Bulbank is among the largest banks in Bulgaria, providing a comprehensive range of financial services for both individuals and businesses. From personal banking, savings accounts, and loans to corporate banking, business financing, and investment solutions, UniCredit Bulbank delivers trusted and professional Bulgarian banking services.
DSK Bank
DSK Bank is a trusted bank in Bulgaria, offering a full range of banking products and services for both retail and corporate clients. From personal banking, savings accounts, and loans to corporate banking, business financing, and investment solutions, DSK Bank delivers reliable and professional Bulgarian banking services tailored to your financial needs.
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Postbank (Eurobank Bulgaria)
Postbank is a major player in the Bulgarian banking sector, providing a wide range of financial services for both individuals and businesses. From personal banking, savings accounts, and loans to corporate banking, business financing, and investment solutions, Postbank combines expertise with a strong local presence. Discover reliable and professional banking services in Bulgaria with Postbank.
Raiffeisenbank Bulgaria
Raiffeisenbank Bulgaria provides a wide range of banking and financial services for both retail and corporate clients. From personal banking, savings accounts, and loans to corporate banking, business financing, and investment solutions, Raiffeisenbank delivers reliable and professional Bulgarian banking services tailored to your financial needs.
Top payment methods
Visa
Visa is the world’s largest global card network by transaction value, accepted almost everywhere. It’s known for secure, fast, and reliable payments, positioning itself as “the best way to pay and get paid by everyone.”
Mastercard
Mastercard is a global payments leader, dominating the co-branded card market in Europe and key countries like Brazil, Canada, and Germany. Known for secure, contactless, mobile, and digital payment solutions, Mastercard drives e-commerce, fintech, and online banking innovation worldwide.
ApplePay
Google Pay
Google Pay enables secure digital payments using stored credit or debit cards for online, in-app, and in-store purchases. It offers a fast, seamless checkout experience on Android devices and supports 3D Secure authentication for EU and UK-issued cards.
Concluding remarks
Bulgaria’s economy is set for recovery and growth, supported by a diverse payment ecosystem and ongoing economic reforms. Combining traditional banking with modern digital payment methods, Bulgaria offers secure, convenient financial solutions that adapt to evolving consumer needs and support economic resilience, innovation, and sustainable development.
Cash (Налични пари)
Cash remains a widely used payment method in Bulgaria, especially for smaller transactions and in rural areas. Despite the rise of digital payments, cash is still a significant part of the economy.
Credit and Debit Cards
The use of credit and debit cards is extensive in Bulgaria, with major card networks like Visa, MasterCard, and Maestro widely accepted. The adoption of contactless payment methods is growing rapidly due to their convenience and technological advancements.
Bank Transfers (Банкови преводи)
Bank transfers (Банкови преводи) in Bulgaria are commonly used for large payments, such as business transactions or real estate deals. Bulgaria’s banking system allows secure domestic and international transfers. With online banking, transferring money is fast and convenient for both individuals and businesses.
Mobile Payments
Mobile payment options, including Apple Pay, Google Pay, and local apps like Pay by Viber, are gaining popularity. These methods offer a convenient way to make payments using smartphones and other digital devices.
Online Payment
Platforms Platforms like PayPal and PayU are widely used for eCommerce transactions. They provide secure and efficient ways to pay for goods and services online, supporting the growth of the digital economy.
Prepaid Cards
Prepaid cards are popular among younger individuals and those who prefer not to use traditional banking services. These cards are used for online shopping and daily expenditures.
Cryptocurrencies
Cryptocurrencies are gradually being adopted in Bulgaria, particularly among tech-savvy individuals and businesses. The regulatory environment is evolving, but widespread acceptance is still in its early stages.
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