In the first quarter of 2024, labor costs per hour worked in the European Union showed significant increases, according to the latest data from Eurostat. Across the EU, these costs rose by 5.5% YoY, while in the euro area, the increase was slightly lower at 5.1%. Labor costs for firms encompass not only wages and…
Petar Ganev, an economist from the Institute of Market Economy, discussed Bulgaria’s readiness for joining the Eurozone in an interview with BNR, noting that the upcoming regular convergence report would likely indicate the country was not prepared. Ganev emphasized the necessity of a government capable of leading high-level discussions and implementing consistent policies for a…
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…