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,…
Approximately 10% of individuals who previously qualified for home loans would no longer be eligible under new regulations set by the Bulgarian National Bank (BNB), according to brokers’ estimates. This change predominantly impacts those with incomes below the national average. The BNB has implemented stricter conditions for loan approvals by commercial banks. One significant new…
In June, Bulgaria’s services sector saw a monthly production increase of 0.6%, while Eurostat data showed a decline in the EU for the same period. Production in the Eurozone’s services sector dropped by 0.8% compared to May, with the overall EU figure falling by 0.9%. This follows May’s figures where services output in the Eurozone…
The Parliament of Bulgaria decided to extend by six months the deadline given to the government for negotiations on the sale of two Russian nuclear reactors and auxiliary equipment to Ukraine. Authorities in Sofia received the reactors from Russia’s Atomstroyexport more than six years ago, but they were already unusable, because the country had given…
Bulgaria ranks second globally in bread consumption, with Turkey leading the list, according to the Turkish news site “Yenigun”, which cites recent statistics. In Turkey the average annual bread consumption per person is nearly 200 kg, while in Bulgaria it stands at 131.1 kg per person each year. Ukraine follows in the third place with…