In its April 2022 Europe and Central Asia Economic update, the World Bank (WB) lowered the Bulgaria’s GDP growth forecast to 2.6% in 2022. The number comes 1.2 p.p. lower than its January Global Economic Prospects report and reflects high inflationary pressure, the military conflict in Ukraine and supply chain disruptions. In 2023, the economy is expected to growth by 4.3%, which represent 0.7 p.p. upward revision, and to follow on with 3.7% growth in 2024. The WB noted that over the medium run, growth is expected to be fuelled by EU-funded public investment and improved private investor sentiment on the near-term prospect of Eurozone entry. Other macro projections suggest inflation to accelerate to 9.3% in 2022 amid energy and food prices hike, before dropping to 3.4% in 2023 and 2.0% in 2024. Fiscal deficit is projected to gradually decline from 4.4% in 2022 (exceeding the government’s plan for 4.1% of GDP) to 2.3% in 2024. Government debt is expected to reach 28.5% of GDP at the end of 2022 and narrow down to 27.2% at end-2024. Overall, economic output in the Europe and Central Asia (ECA) region is expected to contract by 4.1% in 2022, while to rebound by 2.5% in 2023. The World Bank pointed out that further downward revisions are likely to follow in case of a prolonged military conflict, or the spread of new COVID-19 variants.