Over the next year, more than 17,000 Bulgarian companies are planning layoffs, marking a nearly 37% rise in firms forced to scale back and reduce staff. In 2023, 12,600 companies reported similar workforce reductions. The data come from a study by the Employment Agency on labor market needs. Sectors most affected include trade, transport, and…
Labor supply in Bulgaria remains exceptionally constrained amid record-high demand, making it increasingly challenging to tap into the limited available workforce, according to recent Eurostat data analyzed by the Institute for Market Economy. The report offers insight into the labor market slack across EU countries in 2023, extending its scope to include people aged 15-74,…
Last month Ukraine’s electricity imports reduced by 58%, to 181.8 thousand megawatt-hours, compared to September. Meanwhile, the export of electricity increased 88-fold, to 60.7 thousand megawatt-hours. The relevant statement was made by Ukraine’s think tank DiXi Group on Facebook, referring to the data from the Energy Map portal. “Although electricity imports dropped by 58% last…
Morshynska, Ukraine’s best-selling mineral water brand, is set to enter the Romanian market, targeting retail outlets and the HoReCa sector. Already popular in several European countries, as well as in the US and Canada, Morshynska’s expansion into Romania adds a key market to its European growth strategy. Despite the ongoing war, Morshynska’s production has surged,…
According to recent Eurostat data, Bulgaria continues to hold the lowest average salary within the European Union. In 2023, the EU-wide average annual adjusted full-time salary increased by 6.5%, reaching 37,900 euros, up from 35,600 euros in 2022, as reported by Statistics Europe. Luxembourg leads with the highest average salary, reaching 81,100 euros, followed by…
Baltic transmission system operators (TSOs) have confirmed the planned launch of a frequency reserve capacity, with the first auction date set for February 4, 2025. The launch of the frequency reserve capacity market is an important step in the Baltic power grids’ synchronization with the Continental European frequency area. The goal of the market is…
In September, Bulgaria’s retail trade sector, excluding the sale of cars and motorcycles, reported a slight rise in turnover, up by 0.4% from August’s figures, which had shown a 0.7% decline. This recent monthly increase follows eight consecutive months of growth, beginning in February. Compared to September 2023, retail turnover in September grew by 4.8%,…