Bulgaria is emerging as a top destination for starting a new business, praised for its favorable conditions. According to the World Bank’s Ease of Doing Business index, Bulgaria stands out due to its low corporate tax rate of 10% and minimal administrative fees, making it an attractive option for entrepreneurs. The country offers a streamlined…
In the second quarter of 2024, Bulgaria’s gross domestic product (GDP) grew by 2.1% YoY, according to preliminary data from the National Statistics Institute. A flash estimate from August 14 predicted a 2% growth. Both assessment methods indicate that quarterly growth stands at 0.5%. The value of GDP per person amounts to 7,399 leva, or…
Starting in 2029, heating with wood and coal will be entirely banned in Sofia. The regulation for this change was adopted two years ago, and the city began enforcing restrictions last winter, initially targeting polluting vehicles in the city center. This year, the ban on cars in central areas will be expanded. From January 1,…
In 2023, approximately 2,400 Bulgarians earned monthly incomes exceeding 50,000 leva (around 25,000 euros), according to data requested by Mediapool. Of these high earners, around two-thirds received between 50,000 leva and 100,000 leva per month, while the highest earners saw annual incomes of up to 6 million leva, derived from salaries and management fees. Meanwhile,…
In the coming two months the company “Kozloduy NPP – New Powers” is set to finalize an engineering contract with a consortium comprised of South Korea’s Hyundai Engineering and Construction and the American firm Westinghouse Electric Company. This announcement was made by Acting Minister of Energy Vladimir Malinov, who is currently in Seoul meeting with…
As of the end of July, Bulgarian banks reported a profit of 2.1 billion leva (around 1 billion euros), marking an increase of 115 million leva compared to the same period in 2023. This represents a 5.7% rise from the first seven months of the previous year, according to data from the Bulgarian National Bank…
The recent record in gold prices has sparked discussions among financial analysts about its implications for the economy. Analysts suggest that this trend could signal an economic slowdown, potentially leading to reduced interest rates by the end of the year. They expect gold prices to continue rising, which has raised questions about whether this trend…