In preparation for the introduction of the euro, Bulgaria is updating its payment services and systems to align with the new currency regime, as outlined in the National Plan. Economist Rumen Galabinov highlighted that this preparation involved ensuring technical readiness for converting from lev to euro. The conversion rate of 1.95583 will be adhered to,…
For five consecutive years, McDonald’s has maintained its position as one of Bulgaria’s top employers, consistently earning recognition in the Hewitt/AON survey. The company has also twice been ranked among the top 10 employers in Central and Eastern Europe. In the “Large Companies” category of Bulgaria’s “Best Employers” survey, McDonald’s secured first place in 2006…
The Bulgarian government has approved a decision allowing Kozloduy Nuclear Power Plant (NPP) to engage in public procurement and secure contracts for the supply of goods and services from Russia. This exception, recorded in a Council of Ministers decision, aligns with European Union regulations. Under this decision, Kozloduy NPP is permitted to import iron and…
According to the latest Eurostat figures, Bulgaria has emerged as one of the top five EU countries in terms of growth in tourist overnight stays in the second quarter of 2024. This period shows a marked increase compared to the same timeframe in 2023, underscoring Bulgaria’s appeal to both domestic and international visitors. During this…
The Bulgarian tourism industry faces significant challenges due to delays in processing both work and tourist visas for individuals from third countries. The situation has particularly impacted the tourism and construction sectors, with other industries also struggling to manage visa applications. The issue intensified following the COVID-19 pandemic, which saw a shift in the workforce,…
The Bulgarian government has decided to extend compensation for high electricity costs to all non-household consumers by the end of the year, following a change in the compensation program. The measure, requiring over 500 million leva (250 million euros), has been approved by the European Commission. According to the Minister of Energy, approximately 549 million…
Bulgaria has committed to phasing out coal until 2038, a reminder included in the European Commission’s annual report on energy across the EU and individual member states. The report highlights that through the Just Transition Fund, Bulgaria could access 1.12 billion euros to support the social and economic impacts of closing coal plants in Kyustendil,…