At a closed session, the Energy and Water Regulatory Commission (EWRC) approved an average increase of 8.42% in electricity prices for household consumers, effective from January 1. The changes vary slightly among electricity providers, with Electrohold customers seeing an increase of 8.36%, EVN customers 8.39% and Energo Pro customers 8.55%. These figures include the costs…
Former Finance Minister Simeon Dyankov has expressed concerns about Bulgaria’s eurozone prospects, warning that the country may be moving away from joining for years, potentially indefinitely. Speaking to Bulgarian National Radio, he suggested Bulgaria’s timeline has shifted at least two years forward, potentially targeting 2029. Dyankov criticized what he described as “two clumsy attempts” to…
Bulgaria has solidified its position as a leader in the Balkans for startup creation, climbing one spot to 37th globally in the 2024 Global Startup Ecosystem Index and maintaining its rank as 23rd in Europe. The country continues to outpace its closest regional competitor, Romania, with three cities featured in the global top 1000. Notably,…
From January 1, the VAT rate for restaurant services in Bulgaria returned to 20%, marking the end of the temporary 9% rate introduced during the Covid crisis. The reduced VAT was extended several times, but no longer applied, also affecting the zero VAT rate on bread and flour, which reverted to 20%. While the caretaker…
The power outage in various regions of Bulgaria has led to serious concerns and protests from local residents. Many areas, including parts of the Lovech municipality, have experienced days without electricity, with some villages facing up to six days without power. Ignat Ignev, the mayor of Radyuven, called the situation a “crime” and “bordering on…
Bulgaria’s minimum wage is set to rise to 1,077 leva (550 euros) from January 2025, despite the absence of an adopted budget for the year. The increase, implemented through a government decree published in the State Gazette in October, marks a 15.4% hike from the current 933 leva. This adjustment follows a pattern of steady…
The European Bank for Reconstruction and Development (EBRD) has partnered with UniCredit Bulbank to support the growth and sustainability of Healthy Bars, a leading Bulgarian protein bar producer. As part of this partnership, the EBRD will share the risk on a EUR 14.8-million senior secured loan provided by UniCredit Bulbank to the company. Through an…