Rising labour costs, expensive energy and raw materials, and a shortage of skilled workers are the biggest problems for businesses in Bulgaria in 2027. This is the finding of the "European Economic Survey 2027", the Bulgarian Chamber of Commerce and Industry (BCCI) said.

Firms expect domestic sales to hold steady, exports to grow modestly and employment to be weaker next year.

For 62% of companies, the main worry is constant pressure for higher pay. Employers must also pay social security contributions on every pay rise.

The price of energy and access to raw materials worry 61% of firms. Almost half, 49%, cannot find enough skilled staff, which holds back their work and growth.

On the home market, 44.03% of firms expect sales to rise, while 40.45% think they will stay at current levels. For exports, 42.02% expect modest growth, and 37.5% expect no major change from the previous period.

Some 41% of companies plan to raise investment, while 45% will keep it at the 2026 level. More than 61% plan to keep their current number of staff.

The business climate in Bulgaria is still seen as positive. Confidence is close to the 2026 level. But more than half of those surveyed are more negative than in 2025, and European firms overall are resilient but lack confidence, the survey says.

The survey was carried out in September 2026. The BCCI says this is partly why it does not show the negative views that businesses might give now. The draft 2027 state budget, with planned revenue and spending, has since been announced.

In Bulgaria, 847 business owners answered the survey interviews, against a required minimum of 400. The BCCI has been the partner of EUROCHAMBRES for Bulgaria for the 28th year in a row. This year it doubled the survey's representativeness and added larger groups of firms from different industries and sectors.

This is the 34th annual edition of the survey. The Association of European Chambers of Commerce (EUROCHAMBRES) coordinates it, with support from a network of chambers of commerce and industry. In Europe, 27 national chambers of commerce and industry took part, along with more than 40,717 firms, many of them small and medium-sized.