Since the beginning of the full-scale war, 87 companies have moved their production facilities to the Kirovohrad region, the Kirovohrad Regional Military Administration (RMA) reports. “Since the beginning of the war, the region has been working proactively to support businesses in relocating production facilities, personnel, raw materials and residual products from areas close to or…
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023, as reported by the National Statistical Institute (NSI). The increase was also evident when compared to the previous quarter, with a 0.6% rise in GDP. In monetary terms, GDP reached 53,769.8 million…
In Bulgaria, the current labor market is facing a situation where job supply exceeds demand, creating challenges for employers. The issue lies in the lack of necessary skills among available workers for the positions that need to be filled. This was discussed by Maria Sentova, a psychologist and HR expert, during the “Psychology and Business”…
Due to recent increases in wages, several productions are relocating to more cost-effective destinations. Bulgaria is no longer seen as Europe’s low-wage hub, according to Georgi Parvanov, a member of the Management Board of the Bulgarian Employment Confederation. He highlighted that this shift had led to the closure of several manufacturing plants in places like…
Bashtanka Cheese Plant, which is known for its Slavia brand products, is considering resuming operations in the Mykolaiv region, Vladyslav Dmytriv, the head of the Bashtanka district military administration, has said. “I spoke with the management of the Milk Alliance group of companies, which includes Bashtanka Cheese Plant, as well as with the company’s director.…