Banks in Bulgaria have allocated a total of 400 million leva to prepare their systems for the transition to the euro, according to Petya Dimitrova, chairwoman of the Association of Commercial Banks. She highlighted the significant benefits that adopting the single currency would bring, including enhanced competitiveness, improved operational efficiency, better access to capital and…
More Bulgarians are rushing to purchase property, fearing that housing prices will rise further after the country joins the Eurozone. According to a Bulgaria ON AIR interview with credit consultant Tihomir Toshev, citizens face increasing difficulties in buying homes, particularly in larger cities, where the rise in property prices has outpaced income growth. This trend…
The Bulgarian government has announced the removal of 8 projects from the Recovery and Resilience Plan (RRP), totaling over 1 billion leva (half a billion euros). This decision was disclosed during a briefing by Deputy Prime Minister Tomislav Donchev and Finance Minister Temenuzhka Petkova at the Council of Ministers. Petkova explained that the delay in…
Bulgaria considers the construction of the 7th and 8th units of the Kozloduy Nuclear Power Plant (NPP) a strategically important project for ensuring the country’s energy security. GERB leader Boyko Borissov emphasized this during a meeting with Hyundai CEO Hanwoo Lee, expressing confidence that the project would be completed within the deadlines set by the…
In recent years, food prices in Bulgaria have become a key issue in both public and political discussions, especially following the abolition of preferential VAT rates and the country’s pursuit of meeting inflation criteria for adopting the euro. While some retail chains have faced boycotts in response to rising food costs, proposals to regulate price…
Eurozone nations have expressed their support for Bulgaria’s progress toward adopting the euro, as highlighted in the Eurogroup’s conclusions during the European Council meeting in Brussels. The statement noted that the next step would be to await the assessments from the European Commission and the European Central Bank (ECB). Prime Minister Rosen Zhelyazkov, speaking to…
After an extensive session in the Bulgarian National Assembly, MPs approved the state budget for 2025 following a lengthy debate and multiple votes. The budget, which does not include tax increases, projects a deficit of 3% of GDP and allows for new government debt of up to BGN 18.9 billion. Revenues are set at BGN…