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…
For the first time in Bulgaria’s economic history, the National Statistical Institute (NSI) has reported that the average gross monthly salary has crossed the BGN 2,000 mark (roughly 1,000 euros). September recorded an average gross monthly salary of BGN 2,072, marking a significant increase compared to July (BGN 1,973) and August (BGN 1,957) of the…
Bulgaria’s industrial landscape faced a substantial setback in September, witnessing a sharp decline both on a monthly and yearly scale, according to data from the National Statistical Institute. The year-on-year contraction reached a staggering 11.5%, surpassing the 2.7% dip compared to August. Breaking down the data, the production and distribution of electricity, heat and gas…
The government adopted an update of the National Plan for the introduction of the euro in Bulgaria. The changes in the Plan were developed and approved by the Coordination Council for the preparation of Bulgaria for membership in the Eurozone, which was co-chaired by the Minister of Finance and the Governor of the Bulgarian National…
Preliminary data from the National Statistical Institute revealed a decrease in the number of residential buildings and dwellings constructed in Bulgaria during the July-September period. A total of 1,239 buildings were completed, housing 5,085 new dwellings, marking a decrease of 7.3% in buildings and a 14.4% drop in dwellings compared to the same quarter in…
Prime Minister Nikolai Denkov has extended a warm invitation to representatives of 15 of the largest American companies, emphasizing Bulgaria’s strategic importance as a gateway to Europe. During a meeting that included US Ambassador to Bulgaria Kenneth Merten and Eric Stewart, the Chairman of the American-Central European Business Association, Denkov highlighted Bulgaria’s unique advantages for…
Dronamics, the world’s first cargo drone airline licensed to operate in Europe, and Hellenic Post (ELTA) have announced an agreement that will lead to the first postal deliveries by cargo drones in Greece. Dronamics, which designs, develops and operates cargo drones, will provide medium-distance deliveries to Hellenic Post, the national postal service of Greece. The…