To meet the criteria for entering the Eurozone, Bulgaria is gearing up for a significant shift in its economic landscape, with prices expected to witness a downward trend in the coming months. The key condition for Bulgaria’s entry into the Eurozone is maintaining inflation within a specific range. Specifically, the inflation rate in Bulgaria’s consumer…
Amidst growing dissatisfaction, grain producers in Bulgaria are considering organizing a protest against what they perceive as an unacceptable and frivolous proposal from the government. Zhechko Andrejnski, the chairman of the Vidin Union of Grain Producers, criticized the government’s requirement for farmers to prove their profits and losses, stating that the proposed approach only added…
Tensions are escalating in Bulgaria’s agricultural sector as the Bulgarian Agrarian Chamber issues a stern warning, declaring that farmers will launch protest actions from February 6 if the anticipated meeting with the executive power does not take place. The meeting is crucial for the acceptance of the demands put forth by agricultural producers, shaping the…
In a recent announcement, the Bulgarian National Bank has confirmed that the base interest rate for February will stand at 3.79%, maintaining the status quo from January. This decision follows a marginal reduction of 0.01% made in December 2023. The consistent rate, effective from February 1, underscores the central bank’s cautious approach to monetary policy.…
Bulgaria witnesses a notable improvement in its overall business climate indicator, surging by 3%age points from December 2023 to January 2024. The National Statistical Institute (NSI) revealed that this uptick spanned across all key sectors-industry, construction, retail trade and services. According to NSI, the composite indicator for the business climate in the industry sector rose…
The picturesque city of Varna is experiencing a clash between its tourism sector and proposed plans for offshore wind farms, sparking controversy and opposition within the local community. The draft bill outlining the construction of these wind farms recently passed its first reading in the National Assembly, triggering dissent among various stakeholders. Stoyan Marinov, co-chairman…
Bulgaria’s journey toward Eurozone membership has taken a significant step forward, with Finance Minister Asen Vassilev projecting a prospective entry date of January 1, 2025. In a collaborative effort to bolster regional ties, Vassilev engaged in fruitful discussions with Greek Finance Minister Stavros Papastavrou. The ministers underscored the robust and cooperative relationship between Bulgaria and…