The Bulgarian Minister of Energy has announced a temporary suspension of the order for the expansion of the Chiren underground gas storage facility. This decision will remain in effect until the European Prosecutor’s Office completes its inspection of Bulgartransgaz. The minister noted that the ongoing investigation involved an auditor from Bulgartransgaz itself. According to Bulgartransgaz,…
In Bulgaria, newly constructed homes are predominantly two-room units, averaging 85 square meters in size and built mainly from reinforced concrete. The highest construction activity is currently seen in Plovdiv and Burgas. Last year, nearly 5,500 new homes were built in Bulgaria, marking a slight increase from the previous year and surpassing the fewer than…
On August 13, the European Prosecutor’s Office gained access to the gas operator Bulgartransgaz with the assistance of local police. The European Commission has declined to comment on the ongoing investigation, and the exact number of participants remains undisclosed. The Ministry of Internal Affairs revealed that the investigation was related to the Turkish gas company…
In June, Bulgaria saw a notable increase in the total number of overnight stays in hotels and other accommodation, reaching 3.5 million, which marked a 5.9% rise from the previous year, according to the National Statistical Institute. The overall number of overnight stays grew by 6%, while hotel occupancy rates also improved, climbing by 2%,…
The Bulgarian National Bank (BNB) anticipates a gradual slowdown in annual inflation during the second half of the year, as outlined in Issue 2 of its quarterly publication, “Ikonomicheski pregled” (Economic Review), available on the central bank’s website. According to the report, private consumption and rising unit labor costs, particularly in the context of labor…
According to Associate Dr. Rumen Draganov, director of the Institute for Analyzes and Forecasts of the Information Environment in Tourism, Bulgaria is poised for a strong tourist season this year. Draganov forecasts that the number of foreign tourists will surpass 13 million, marking a 5% to 7% increase from 12.5 million in 2019, the last…
The Bulgarian Parliament has approved the regulations for replacing the lev with the euro, even though Bulgaria has not yet met the criteria for joining the Eurozone. The process for the currency transition is now outlined, despite the country’s current political challenges. Preslav Kitipov, chairman of the Association “Institute of Certified Financial Consultants”, and financial…