The Ukrainian parliament has approved the purchase of two Russian nuclear reactors originally intended for the Belene Nuclear Power Plant (NPP) in Bulgaria. This decision came after a vote by the energy committee on January 16, which passed an amendment to a law aimed at improving the country’s business climate. The amendment specifically authorizes the…
Preparations for Bulgaria’s entry into the eurozone are well underway, despite the exact timeline remaining uncertain. While the government has not specified the date of the country’s adoption of the single European currency, regulatory changes are being made to ensure a smooth transition. Recently, the caretaker government has approved a decision requiring the State Commission…
The practice of hiring workers without formal employment contracts remains a widespread violation of labor and social security laws in Bulgaria, according to data from the Confederation of Bulgarian Trade Unions (CITUB) collected over the past year. The most frequently affected sectors include services, repair work and the restaurant industry. Velichka Mikova, CITUB’s national secretary…
Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry until the end of January, according to the former Finance Minister Lyudmila Petkova. She made the announcement during a visit to the Ministry of Finance following the official handover ceremony for the newly formed government.…
Bulgaria has met the inflation criterion required for entry into the Eurozone, with an average annual inflation rate of 2.6% over the last 12 months. This marks the fulfillment of the final condition needed for the country to adopt the euro, according to Asen Vassilev, co-chairman of We Continue the Change – Democratic Bulgaria (WCC-DB).…
Bulgaria’s National Statistical Institute reported that inflation in 2024 stood at 2.2%, a slight increase from the previous year. The inflation rate in December 2024 was recorded at 0.4%. The average annual inflation for the period from January to December 2024, compared to the same period in 2023, reached 2.4%. Among the various categories, the…
In 2024 Bulgaria’s electricity sector faced significant challenges, with a sharp decline in exports and a rise in domestic consumption. The country’s energy production decreased by 5% compared to the previous year, largely due to reduced output from coal-fired thermal power plants. However, renewable energy sources, particularly solar power, saw notable growth. Despite producing record…