Bulgarians allocate a significant portion of their savings to deposits, with 73% of their assets held in this form. In contrast, citizens across the European Union invest 36% of their assets in financial markets. Bulgarians are more conservative in their investment choices, with only 5% of their assets directed toward financial markets, while 20% are…
Residents of the Baltic States are currently experiencing a significant increase in food prices – 31% in Latvia, 33% in Estonia and 26% in Lithuania find that they can afford less food purchases due to price rises than before, Citadele Bank representatives report, citing the survey conducted. Overall, over the past year, the majority of…
The process of introducing the euro in Bulgaria is advancing, with the implementation of the Eurosystem’s TIPS (Target Instant Payment Settlement) service playing a central role. The Bulgarian National Bank, the BISERA payment system, two banks and one electronic money company have joined the service, which facilitates instant payments in euros, completed within ten seconds.…
The introduction of an advance payment for each filling station should not affect fuel prices, as it is not actually a tax increase, Serhiy Kuyun, Director of Consulting Group A-95, has said. “I do not anticipate that this will have any impact on fuel prices. Unlike other clauses of the law, this (introduction of an…
The draft law No. 9665, which aims to combat illegal logging and timber sales, contains clauses that allow for different interpretations. In particular, the legislation does not distinguish between the concepts of household storage of firewood and the use of illegal wood for commercial purposes. This opinion was expressed by Yurii Bolokhovets, Director General of…
Preliminary data from the Ministry of Finance indicate a slight reduction in the budget deficit for November compared to October. As of the end of November, the deficit is expected to stand at 3.7 billion leva, marking a decrease from nearly 4 billion leva reported in October. This adjustment corresponds to a decline in the…
Mass layoffs have resurfaced in Bulgaria’s labor market, with nearly 10,000 workers affected in the past two years. Once associated with the closure of major industries, this process has gained renewed attention as significant foreign investors withdraw from the country. Between January and October, 65 notifications of mass layoffs involving 4,921 employees were submitted to…