Bulgargaz has suggested a 7.9% rise in December’s natural gas rates, as stated on the Energy and Water Regulatory Commission’s (EWRC) website. Their calculations project a price of BGN 88.61 per MWh, exclusive of access, transmission costs, excise duty and VAT, starting in December. In comparison, EWRC greenlit November’s natural gas price at BGN 82.12…
The 2024 state budget bill encountered resistance from several social partners on November 21, as revealed in a meeting of the National Council for Tripartite Cooperation. Finance Minister Assen Vassilev disclosed that objections from unions and employer organizations prompted an extraordinary Cabinet session on November 24 to address concerns about the proposed budget, along with…
Bulgaria’s dairy sector faces a concerning revelation, as Eurostat data expose the country’s stark reality: recording the lowest annual average milk production across the European Union in 2022. According to the statistics published on November 20, Bulgarian dairy farms yielded an average of approximately 3,621 kg per cow, the lowest in the EU. This distressing…
Bulgaria’s Minister of Finance, Asen Vassilev, provided reassurance that the forthcoming abolition of the derogation for Russian oil, scheduled for March 1, 2024, would not disrupt the Bulgarian market or prompt price hikes. Speaking to journalists in Blagoevgrad, Vassilev addressed the recent agreement between political parties – GERB-SDS, We Continue the Change – Democratic Bulgaria…
On November 16, at a meeting of the Coordination Council for Bulgaria’s preparation for Eurozone membership, the artistic projects for the design of the Bulgarian national side of the euro coins of all denominations, approved by the Management Board of the Bulgarian National Bank, were adopted: 1 euro cent, 2, 5, 10, 20 and 50…
The European Commission’s latest autumn economic forecast reveals Bulgaria’s anticipated economic slowdown in 2023 and 2024, followed by a predicted rebound in 2025. Projections indicate a decrease in imports and exports alongside steady household consumption levels, set to rise gradually in the coming months of 2024. In its forecast, the EC suggests a weakening of…
Energy-intensive industries in Bulgaria are facing a severe threat of curtailed operations or potential closures due to the soaring electricity prices. Dobri Mitrev, the head of the Bulgarian Industrial Association (BIA), highlighted this pressing issue, revealing that the budget for 2024 lacked provisions for energy compensations across various sectors. Mitrev conveyed the BIA’s communication with…