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%.

Published: September 25, 2023

SIMONA TENCHEVA
CHIEF OPERATING OFFICER | ARGENT
simona.tencheva@wecan.net
Simona is Chief Operating Officer of Argent (strategic partner of Café Communications Sofia), responsible for the functional management and leadership of the team and ensuring client deliverables meet quality standards and surpass client expectations. She is also a Global Network Director of Local Planet, leading the local implementation of key global initiatives across the network and in addition, is also responsible for the coordination and the development of the CEE region. Having 25 years background in the communications industry, prior to joining Argent, Simona worked for several media owners and media agencies, managing sales, various strategic projects, corporate development, and key partnerships.

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The economic environment of the media market in 2022, Bulgaria

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