Impact of the COVID-19 Pandemic on the Economy and the Banking Sector of Bulgaria

Abstract

The goal of the research is to analyze the consequences caused by the coronavirus pandemic COVID-19 on the economy and the banking sector of Bulgaria. In structural terms, the research consists of an introduction, presentation, conclusion and cited sources. The significance of the researched topic is brought out in the introduction. The presentation analyzes the consequences caused by the COVID-19 pandemic on the economy of Bulgaria. It also analyzes the effect of the impact of the unfavorable macroeconomic environment caused by the coronavirus pandemic on the banking sector in our country. As we know, the stability of the banking system in a country is of extreme importance, because due to its structure-determining position, the banking sector is a key contributor to the dynamics of the economic development of the EU, including Bulgaria. The presentation of the article also describes the economic measures that have been taken with a view to reducing the adverse consequences of the new coronavirus. In the conclusion, the main implications of the research are presented, and the possibilities of using different policies are considered, with a view to mitigating the negative impact on the economic measures in the last quarter of 2022.