Investments from the USA and Canada in Bulgaria surpass the country’s official balance of payments report findings, as per a recent Institute for Market Economy (IME) study spanning five years. The IME’s Chief Economist, Lachezar Bogdanov, highlighted that global companies from these regions often centralized their European operations in countries like the Netherlands or Switzerland,…
Newly released figures from Eurostat reveal a notable surge in Bulgarian air passengers, marking a 74% increase in 2022. Despite this growth, the nation holds the distinction of the EU’s second slowest rise, with Cyprus recording a slightly lower increase at 69%. The European Union, as a whole, experienced a remarkable upswing, with an average…
In the third quarter of 2023, the Bulgarian economy experienced a 0.4% growth compared to the preceding quarter, maintaining a similar growth pattern seen earlier. Announced by the National Statistical Institute (NSI), the economic expansion, measuring 1.8% annually, remains consistent with the previously estimated 1.7%, showing a slight decline from the 2% growth in the…
Discussions surrounding the state budget for 2024 are scheduled to kick off in the coming week during plenary sessions, with amendments to tax laws set for review on December 7, as confirmed by Finance Minister Assen Vassilev and National Assembly’s Budget and Finance Committee Chair, Yordan Tsonev. The decision for these discussions follows a meeting…
Bulgaria’s Finance Minister, Asen Vassilev, addressed concerns about potential fuel shortages following “Lukoil’s” deliberations on selling its business in the country. The reassurance came during Vassilev’s visit to the “Capitan Andreevo” border crossing alongside European Commissioner Mareid McGuinness. Vassilev clarified that the ministry had received prior indications of Lukoil’s contemplation of selling its Burgas-based refinery.…
Travelers departing from Sofia Airport now have access to convenient and eco-friendly drinking water, thanks to the installation of three new “smart fountains” in the pre-departure areas of Terminals 1 and 2. These modern fountains, equipped with sensor-controlled jets, allow passengers to easily fill their bottles or glasses and directly consume water, mirroring the initiatives…
The Bulgarian Association of Software Companies (BASSCOM) announced their annual Barometer report, marking a historic forecast for the nation’s software sector. Projections unveiled during the event indicated a remarkable milestone: an expected surge in revenues to surpass BGN 8 billion in 2023, an unprecedented achievement for the industry. The Barometer, a long-standing yearly publication offering…