Bulgaria is on track to meet the final requirement for eurozone membership, with expectations to fulfill the price stability criterion until the end of 2024. This development was announced by Deputy Prime Minister and Minister of Finance Lyudmila Petkova at the opening of the 10th-anniversary international scientific conference “Digital Transformation and Economic Recovery in the…
The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 50 million euros for Tenevo Solar Technologies EAD to build and operate a solar photovoltaic plant in southeastern Bulgaria. The project will produce over 300 GWh of electricity annually and help reduce carbon emissions by 250,000 tons per year. The…
According to Georgi Dichev, chairman of the Chamber of Private Bailiffs (CPB), Bulgaria currently has 120,000 debtors under the age of 30. Specifically, 4,000 individuals are debtors under the age of 20, 36,000 are between 20 and 25 years old and 80,000 fall into the 25-30 age group. The data comes from the CPB’s internal…
In October, annual harmonized inflation in the European Union increased to 2.3%, with the Eurozone reporting a rate of 2%, according to Eurostat data. Inflation rates in both the EU and the Eurozone have risen compared to the previous month, with the September figures at 2.1% and 1.7%, respectively. However, these rates remain significantly below…
Corporate and personal income taxes will not increase next year, Deputy Prime Minister and Finance Minister Lyudmila Petkova has announced. She also confirmed that the 2025 budget deficit would be kept within 3% of GDP, with a package of measures targeting both revenues and expenditures to achieve this goal. The budget for next year does…
In the second quarter of the year, the housing price index in Bulgaria increased by 15.1% YoY, slightly lower than the 16% rise in the first quarter. Both new homes and existing properties saw price increases, with new homes rising by 15.6% and existing ones by 14.8%. This trend was also evident in the six…
In the third quarter of 2024, Bulgaria’s Gross Domestic Product (GDP) increased by 2.2% YoY and by 0.5% QoQ, according to the preliminary estimate by the National Statistical Institute (NSI). Final consumption increased by 4.6% YoY, indicating a robust domestic market. Exports grew by a modest 0.1%, while imports rose by 2.9%, reflecting increased demand…