Petar Ganev, a senior researcher at the Institute for Market Economics, stated that it was highly likely Bulgarians would begin making payments in euros starting from January 1 next year, despite the political turmoil in the country. He emphasized that the economy was expected to meet the necessary criteria within a few days, predicting that…
Bulgarian businesses are facing significant financial losses due to delayed membership in the eurozone and Schengen area, missing out on billions in export potential. An analysis by Allianz Trade, a global leader in trade credit insurance, reveals that Bulgaria’s exports could grow by 5.8% annually upon eurozone entry. Trade in goods is expected to rise…
KazMunayGas, the state-owned oil company of Kazakhstan, is reportedly taking part in a tender to acquire the Bulgaria-based refinery of the Russian oil giant Lukoil, known as Lukoil Neftokhim Burgas. According to Bloomberg and 24 Chasa, which cite two sources familiar with the negotiations, KazMunayGas has submitted an offer in the ongoing sale process. If…
Bulgaria is currently meeting the Maastricht criteria required for eurozone membership, with its macroeconomic indicators showing a stable path toward adopting the euro until 2024. According to data from Eurostat, inflation in Bulgaria has remained consistently below 3% for several consecutive months, fulfilling one of the key conditions for joining the single currency. From June…
During recent inspections in Bulgaria’s winter resorts, tax authorities uncovered several establishments failing to issue proper sales receipts. The National Revenue Agency (NRA) conducted checks across popular tourist destinations, including Bansko, Razlog, Dobrinishte, Banya, Borovets, Smolyan and Pamporovo, identifying 28 businesses that were not fully compliant with reporting regulations. Among the violations found were discrepancies…
Bulgaria’s banking sector is bracing for an increase in non-performing loans (NPLs), as the cost of covering potential bad debts has nearly doubled in 2024. According to the Bulgarian National Bank (BNB), the provisions for impairment of financial assets reached 578 million leva as of the end of November 2024, a significant rise compared to…
Starting from January 1, travelers with children no longer need to provide declarations of consent from absent parents when crossing into Greece and Romania, as announced by Chief Commissioner Anton Zlatanov, Director of the Border Police. This change applies to travel to these two countries, following the removal of land border checks between Bulgaria, Romania…