The Cabinet of Ministers has approved the new minimum wage parameters. From January 1, 2024 it becomes 933 leva (or 477 euros), which is nearly 20% more than the current minimum wage. It is calculated according to the new formula, based on the annual average salary. “Today we are about to make one of the…
The International Monetary Fund expects Bulgaria’s GDP growth to slow to 1.7% in 2023 from 3.4% last year, before accelerating to 3.2% in 2024. The fund’s autumn forecast was better than the spring report, according to which Bulgaria’s GDP was expected to grow this year by 1.4%. In spring, however, the IMF expected the Bulgarian…
After a strong growth in 2022, the Bulgarian economy will slow down, following trends in the European Union, according to a World Bank report. The World Bank reports that inflation in Bulgaria remains high, which threatens plans to adopt the euro in 2025. The fiscal deficit is expected to remain below the Maastricht ceiling of…
“Will the energy transition affect prices in Bulgaria and can the agreement between the authorities and the protesters not lead to high social and consumer prices? There are forecasts of a jump in the price of electricity in the country next year. It will be equal to 10%, but it will be a consequence of…
12,000 electric cars have been registered in Bulgaria to date, which represents over 50% growth compared to 7,800 registered in 2022, Boryana Koleva, chief expert in the “National Transport Policy” Directorate of the Ministry of Transport and Communications, has announced. During the international forum “Be Renewable: Energy Evolution 2023” she also shared that the decarbonization…
The operational efficiency of the Interconnector Greece-Bulgaria (IGB) is being optimized, the ICGB, the pipeline’s operator, reports. “The IGB pipeline and the FSRU located near the city of Alexandroupolis demonstrate a significant potential to redefine the energy landscape in the region. The imminent commencement of operations at the LNG terminal is paramount in bolstering regional…
Prime Minister Nikolai Denkov confirmed that he spoke with GERB leader Boyko Borissov regarding the request for amendments to the territorial plans for the coal plants. The coalition GERB – SDS declared for the preservation of the plants and signaled potential violations. Denkov recalled that Bulgaria could lose nearly 1.4 billion leva if the plans…