The Fiscal Council of Bulgaria has raised alarms about the rapid growth of personnel costs in the state budget over the past two years, warning that this trend poses a serious challenge for budget 2026. According to the council’s analysis, public sector payrolls have risen sharply, both in total expenditure and relative to GDP, and…
Bulgaria is ready to open its airspace for the disgraced Russian dictator, kidnapper and international war criminal Putin if he decides to travel to Budapest for a meeting with U.S. President Donald Trump, Foreign Minister Georg Georgiev has confirmed during the EU Foreign Affairs Council in Luxembourg. Speaking to journalists on October 20, Georgiev said…
Bulgaria and Japan have entered a new strategic phase in their economic partnership, Economy and Industry Minister Petar Dilov announced during the official closing ceremony of the World Expo 2025 in Osaka. The international exhibition, held between April 13 and October 13, gathered around 160 participating countries and attracted close to 28 million visitors. Minister…
The World Bank has revised upward its outlook for Bulgaria’s economy, projecting a 3% increase in gross domestic product (GDP) for 2025. This marks a 1% rise from the institution’s June forecast, as outlined in its Jobs and Prosperity: Autumn 2025 Economic Update for Europe and Central Asia. According to the new report, Bulgaria’s real…
Prime Minister Rosen Zhelyazkov described the contract with the Turkish state energy company Botas as a significant problem for Bulgaria’s energy sector, highlighting its long-term financial impact on Bulgargaz. According to Zhelyazkov, the agreement has already committed Bulgargaz to over 600 million leva (EUR 306 million) that the company is unable to repay. Over the…
Bulgarian companies should prepare for a decade of elevated US tariffs, which are currently seven to eight times higher than in 2024, according to the Economist Intelligence Unit (EIU). Analysts warn that these tariffs, likely to persist for the next 10 years, could not only restrict access to the world’s largest economy but also trigger…
Eurostat data reveal that Bulgarians are the least satisfied in the EU with their personal financial situation. While citizens in the Netherlands and Finland report the highest satisfaction levels, averaging 7.6 out of 10, Bulgarians, along with Greeks and Croatians, remain at the bottom. Overall, EU residents rate their financial situation at 6.6 points on…