The World Bank has revised its economic forecast for Bulgaria downward for the third consecutive time, according to its latest summer report. Initially projecting a growth rate of 2.1% for this year, the institution’s revised forecast marks a decrease of 0.3%. This adjustment follows previous expectations from last summer, where growth was anticipated at 2.7%.…
Georgi Angelov, senior economist at “Open Society”, shared insights on Bulgaria’s battle against the demographic crisis. In his latest research titled “Salaries Reversed the Demographic Catastrophe”, Angelov delves into Bulgaria’s demographic landscape. He highlighted the stark contrast from two to three decades ago when economic turmoil and low wages triggered a decline in birth rates…
Bulgaria expects to harvest between 6.1 and 6.3 million tons of wheat and over 800,000 tons of barley this year, caretaker agriculture minister Georgi Tachov has said citing preliminary data. The crop will be reaped from over 1.1 million hectares put to wheat, which translates into an average yield of more than 5,000 kilograms per…
According to a report from the Austrian news agency APA, Austrians will find their money stretching further abroad this summer compared to staying within Austria. This assessment is based on the “holiday euro” index calculated annually by UniCredit Bank Austria, which measures the purchasing power of Austrians’ money in various destinations. Bulgaria emerges as the…
M3 Communications Group, Inc., the leading PR agency in Bulgaria, has been honored as “Company of the Year” in the PR and Communications category. The prestigious award marks the company’s 15th accolade in 2024, the year the company celebrates it’s 30th anniversary of commitment to excellence in the communications business. Winning the “Company of the…
The Bulgarian Energy and Water Regulatory Commission (EWRC) has recently deliberated on proposed adjustments to electricity and heating prices set to take effect from July 1. The discussion centered on recommendations for a 1.4% average increase in electricity rates and an 8.4% decrease in heating costs nationwide. “The task force’s report, dated May 31, forms…
Sofia Airport has been awarded a Level 4 certificate for reducing carbon emissions (Airport Carbon Accredited Level IV – Transformation), announced the concessionaire company. This places Sofia Airport among only eight other European airports with this accreditation, including Istanbul’s new airport and the Parisian airports Charles de Gaulle, Bourget and Orly, as well as Marseille,…