Bulgaria: Lukoil selling oil refinery in Burgas

“Lukoil” has started a procedure for the sale of the oil refinery in Burgas, Finance Minister Asen Vassilev has said in an interview with the British newspaper “Financial Times”. According to him, Lukoil’s decision to part with its largest refinery in Southeast Europe is due to government pressure on Russian companies. “There is probably an…

Bulgaria: inflation down in September 2023

A new drop in annual inflation is reported by the National Statistical Institute. Monthly inflation is -0.1%, and annual inflation is 6.3%. Inflation was measured by the Consumer Price Index (CPI), with monthly inflation for September compared to the previous month and annual inflation compared to the same month of the previous year. The largest…

Bulgaria: economy to slow down

After a strong growth in 2022, the Bulgarian economy will slow down, following trends in the European Union, according to a World Bank report. The World Bank reports that inflation in Bulgaria remains high, which threatens plans to adopt the euro in 2025. The fiscal deficit is expected to remain below the Maastricht ceiling of…