Deputy Minister Barbalov: Bulgarian Industry Accounts for 22% of GDP in 2024

"Bulgarian industry plays an exceptionally important role in the country's economy. In 2024 its contribution to GDP reached 22.5%, making it one of the key drivers of economic development and of improving the prosperity of the national economy," stated Deputy Minister of Economy and Industry Dontcho Barbalov at the opening of the 79^th International Technical Fair in Plovdiv.

During the opening ceremony, Deputy Minister Barbalov underlined that this year's edition of the fair is dedicated to sectors that are the engines of modern economic growth and at the core of both the green and digital transformation. According to him, the focus on information and digital technologies, electronics, energy, construction, e-mobility, mechanical engineering, as well as industries linked to the development of the green economy, is fully in line with the priorities of the European Union.

"These are the fields that will determine the competitiveness of economies in the decades ahead. They are the ones that carry immense potential for creating high added value, quality jobs, innovation, and sustainable exports," Barbalov said.

The Deputy Minister of Economy pointed out that despite current geopolitical and economic challenges, in 2024 the added value generated by industry reached EUR 23.3 billion. "Against the backdrop of many European countries, Bulgarian industry remains stable and with strong potential for high-tech development," Barbalov added.

In conclusion, Deputy Minister Barbalov emphasised that, given present-day challenges, the Ministry is, for the first time in Bulgaria's modern history, designating industry as a national priority sector. He recalled that in 2025 work will begin on the elaboration of a National Industrial Strategy with a time horizon to 2030. "Its objective will be to improve performance in three priority areas - enhancing the regulatory environment, accelerating the twin transition (green and digital), and building modern industrial infrastructure," he noted.