In Bulgaria, there has been a significant rise in the use of quick loans, a trend driven by several factors. According to Bogomil Nikolov, chairman of the “Active Users” Association, the country’s banking system has created a niche for these types of loans due to the cumbersome procedures involved in traditional bank loans, particularly for…
According to data from the National Statistical Institute, food represents the largest share of expenses for Bulgarian tourists, both domestically and internationally. For trips within Bulgaria, more than 40% of the travel budget is allocated to food, while this figure is 34.3% for travel abroad. This information covers the months of April, May and June,…
Interest rates on existing mortgage loans in Bulgaria are beginning to rise, according to a check by BNR based on recent data. Although these instances are currently isolated and do not yet impact overall statistics, they signal a trend that experts have anticipated for some time. The increase in interest rates is more pronounced for…
The ice cream industry in Bulgaria is facing a significant decline, with production dropping by between 60% and 70% over the past six years. Eurostat data revealed that in 2018 Bulgaria produced 29.6 million liters of ice cream, marking the highest output ever. However, production fell to 19 million liters in 2020, further decreasing to…
The Bulgarian Association of Travel Agencies estimates that between 300,000 and 340,000 Bulgarians will travel both domestically and internationally during the upcoming two long weekends in September. Greece remains the top choice for travelers, with bus trips priced between 330 and 790 leva already sold out, and air packages ranging from 800 to 1,250 leva…
In July, the number of Bulgarians traveling abroad for vacation or excursions rose by just over 11% compared to the same month last year, according to the National Statistical Institute. During this period, the largest portion of Bulgarian trips abroad was for leisure and excursions, making up 47.4% of the total, followed by trips for…
The “Economist Intelligence Unit” has pushed back Bulgaria’s anticipated entry into the Eurozone and full Schengen membership to 2026, citing ongoing political instability as a major factor. According to their August forecast, while adopting the euro could be technically feasible until 2025 if price stability and a stable government are achieved, the prevailing conditions suggest…