The travel organizing platform eSky.bg announced that Italy was the most preferred destination among Bulgarians for 2023. Nearly half of the travelers (44%) for a period of 2-3 days have chosen Italy for their vacation, with Rome, Milan, Venice, Bari, Bologna, Catania and Naples being the most preferred destinations. 24% prefer Austria for short trips,…
Bulgaria experienced a remarkable surge in foreign direct investments, marking a 12-year high with an increase to BGN 7 billion between January and November 2023, a BGN 2 billion rise from the previous year. Minister of Economy and Industry, Bogdan Bogdanov, highlighted this growth during discussions with Flix Group’s CFO, Christoph Debus, and Global Delivery…
The official opening of the second cross-border power line between Greece and Bulgaria marked a significant event during the ministerial meeting of the Central and South-East European Energy Connectivity Group (CESEC) on January 19. The inauguration, attended by European Union Energy Commissioner Kadri Simson and Bulgarian Energy Minister Rumen Radev, represents a crucial step toward…
The majority in Bulgaria’s parliament has given the green light to the first reading of a new law governing the Bulgarian National Bank (BNB), marking a pivotal moment in the country’s journey toward Eurozone accession. The legislation, if passed, will play a crucial role in facilitating Bulgaria’s entry into the Eurozone. The proposed amendments address…
Banker and economist Levon Hampartsumyan addressed concerns about Bulgaria’s adoption of the euro, emphasizing the need to overcome fears and embrace the impending change. According to Hampartsumyan, the shift to the euro as the primary measure of economic success will not only be seamless but also without financial burdens for the public. Contrary to apprehensions,…
Bulgaria is set to witness wages outpacing inflation at a two-to-one ratio in 2024, according to Allianz Trade’s latest report. Anticipating a 9% growth in wages compared to an expected 4% inflation, the report indicates a slowdown from the 13.5% wage growth projected for 2023. Despite this deceleration, wages are poised to comfortably surpass rising…
Bulgaria is undergoing a shift toward becoming a net importer of electricity, driven by economic considerations, warns energy expert Krassimir Manov. Manov emphasized that despite the nation’s existing energy capacities, domestic production lacks competitiveness in the market. The current strategy favors importing electricity from neighboring countries, a practice once reversed. Until recently, Bulgaria supplied electricity…