The European Commission’s latest report on convergence has determined that Bulgaria does not meet the necessary conditions for adopting the euro. This conclusion, announced on June 26, affects Bulgaria along with five other EU member states that are not yet part of the Eurozone. According to the report, Bulgaria falls short specifically on the criterion…
The Bulgarian Ministry of Finance anticipates that the country will achieve the inflation benchmark required for Eurozone membership until the year’s end. Following this achievement, Bulgaria plans to formally request the European Commission (EC) and the European Central Bank (ECB) to prepare an extraordinary convergence report, as stated by the Ministry of Finance. Deputy Prime…
The European Commission announced on June 24 that it was providing Bulgaria with 65 million euros from the EU Modernization Fund for the GREENABLER project. This project aims to reconstruct power lines and adapt them for electricity generated from clean sources. The Bulgarian government applied for this 857 million euro project in February, and the…
Sofia has climbed six places to occupy the 162nd position in the 2024 cost of living ranking by the management consulting company Mercer, which lists the most expensive cities for foreigners. This index includes 226 cities worldwide, measuring the relative price of over 200 items in each location, such as transportation, food, clothing, household goods…
In 2023, Bulgarian households remained among the lowest in the EU for consumption of goods and services. According to Eurostat’s latest data, Bulgaria’s “actual individual consumption” (AIC) was 27% below the EU average, placing it at 73% of the European level. In contrast, Luxembourg’s AIC was 38% above the EU average, reaching 138%. AIC per…
Wizz Air, the fastest growing airline in Europe and the most sustainable in the world, launched the first flight on its newest route: from Varna to London Gatwick Airport. Direct flights will operate three times a week, allowing passengers to enjoy the destination for both leisure and business travel. Tickets are now available on wizzair.com,…
Bulgaria continues to export fresh fruits and vegetables despite the prevalent perception that most of these goods are not locally produced. Ministry of Agriculture data from last year revealed that Bulgaria exported nearly 100,000 tons of fresh produce, with fruits accounting for over 70,000 tons and vegetables for the remaining 39,000 tons. On the flip…