Bulgaria's coalition government resigned in March, triggering the sixth general election in three years. The country goes to the polls on June 9. The post-election government formation might prove complex but our base case is that political deadlock will be avoided, paving the way for Bulgaria's eurozone accession in the next 18 months. We expect private consumption and EU funds will support Bulgaria's real GDP growth of 2.9% on average over the next few years, while fiscal and current account deficits will remain modest. We affirmed our 'BBB/A-2' sovereign credit ratings on Bulgaria. The outlook remains positive. On May 24, 2024, S&P Global Ratings affirmed its 'BBB/A-2' long- and short-term foreign and local currency ratings on Bulgaria. The outlook remains
