The economic environment of the media market in 2022, Bulgaria

2022 was a tough one for the Bulgarian economy where one of the major setbacks was the strained relationship with Russia, resulting in a large portion of the Bulgarian industry being placed in a very difficult position. Another big concern for the economy was the rapid escalation of inflation, reaching unprecedented levels by September. However, there is a deceleration in annual inflation over the past few months. In terms of economic activity, there was a 0.9% sequential increase in Q2, but the annual growth of real GDP continued to decelerate to 3.4%. Household consumption displayed an acceleration in growth during HY1, supported by an expansion in disposable income and the tight labor market. In the first 8 months, inflation measured by CPI was accelerated vastly and stood at 17.7%, the average annual inflation rate remained 13%.