Real estate agents have reported a surge in property purchases by foreigners in Bulgaria’s resorts and major cities like Sofia, Plovdiv, Varna and Burgas. While resorts like Bansko and Sunny Beach have seen the most transactions by foreigners, Bulgarians remain the primary buyers across all mountain and seaside destinations. In urban areas, foreign buyers are…
Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933 (EUR 477). This announcement was made by Luboslav Kostov, Chief Economist of the Confederation of Independent Trade Unions of Bulgaria (CITUB), during a forum organized by trade unions…
Bulgaria’s prospects for joining the euro in 2025 were bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021, according to statements from the Finance Ministry to Euractiv Bulgaria. The ministry affirmed a strong political commitment from…
Many Bulgarian consumers are raising concerns about the resale of goods from Chinese sites like Temu and Shein at higher prices in Bulgarian physical and electronic stores, according to Gabriela Rumenova from the online platform “We, the consumers”. This comes in light of the European Consumer Organization (BEUC) filing a collective complaint to the European…
Coastal hoteliers are increasing employee wages by at least 20% to address the staff shortage, Minister of Tourism Evtim Miloshev has explained. “Since the start of the year, in the first three months, data from the European Tourist Commission showed that Bulgaria was in the second place for recovery compared to 2019, which was a…
Bulgaria has set up interdepartmental working groups to expedite the implementation of projects for the construction of new nuclear facilities at the Kozloduy NPP and the Vertical Gas Corridor. Their main goal is to assist in executing all legal procedures related to these projects. The projects, part of the Vertical Gas Corridor initiative involving Bulgaria,…
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria’s potential adoption of the euro in 2025 or early 2026. He cited the recent decrease in inflation reported by the National Statistical Institute (NSI) as a positive sign, indicating progress towards meeting the criteria for Eurozone entry. Voinov highlighted the importance of sustaining this…