Acting Minister of Economy and Industry Nikola Stoyanov estimated today, speaking to the Parliament, that based on the available macroeconomic data, the effects of the European sanctions against Russia on the Bulgarian economy are so far negligible.
Bulgaria’s exports to Russia in 2022 showed a decrease of less than 2%, the minister said, according to the Bulgarian News Agency (BTA).
He pointed out that even before the Russian invasion of Ukraine began, more than 60% of Bulgaria’s trade was with the European Union, while with Russia it was only 5-6% in the last ten years.
According to the caretaker minister, it is too early to assess what the effects of the sanctions will be on various sectors, noting that a long period of time needs to pass before the real impact of these sanctions on the Bulgarian economy can be seen.
Source: Capital
