The Bulgarian economy faces a significant workforce shortage, with over 250,000 vacancies across various sectors. The most acute deficits are found in construction and healthcare, where there is a lack of specialized professionals and managerial staff. As a result, businesses are bracing for rising labor costs as they compete to retain qualified workers. Companies are…
While Lithuania has reported a rise in tax evasion by foreign nationals using platform apps to make a living, the issue is not, authorities say, as major in Estonia, thanks in part to a tightening of regulation. Estonia’s efforts to address tax evasion by platform workers are ongoing, but undeclared wages still result in EUR…
Bulgaria’s Ministry of Finance projects a budget deficit of approximately 6.1 billion leva for 2024, equating to 3% of the anticipated GDP. This forecast aligns with the reference value set by the Stability and Growth Pact and is marginally better than the initial estimate of 6.2 billion leva outlined in the annual budget. The ministry…
Ukrainian President Volodymyr Zelensky has announced that once martial law is lifted, substantial funds from various sources will be allocated to revitalizing Ukraine’s economy, with a primary focus on major reconstruction projects. “If martial law is lifted, Ukraine will primarily focus its spending on rebuilding the state. If I may put it this way, a…
Since the eRobota government project was launched in July 2022, the state has invested more than UAH 11 billion in the development of small and medium-sized enterprises (SMEs) via grant programmes. The relevant statement was made by the Economy Ministry. “About 24,000 entrepreneurs have received grant support for the development of their businesses under the…
At a closed session, the Energy and Water Regulatory Commission (EWRC) approved an average increase of 8.42% in electricity prices for household consumers, effective from January 1. The changes vary slightly among electricity providers, with Electrohold customers seeing an increase of 8.36%, EVN customers 8.39% and Energo Pro customers 8.55%. These figures include the costs…
Lithuania will propose to Latvia and Estonia to build a joint power plant, Energy Minister Zygimantas Vaiciunas has said. “Ideally, if we reach such an agreement with Latvia and Estonia, it could be a new power plant. With regional projects, we have a number of challenges in talking to regional partners. But if such a…