At the end of the third quarter, Bulgaria’s treasury faced a deficit exceeding 2.8 billion leva, according to data on the implementation of the fiscal program, as approved by the Cabinet of Ministers. The Ministry of Finance predicts that this shortfall will rise to 4 billion leva in October, with an expected deficit for the…
Stanislav Popdonchev, Deputy Chairman and Financial Director of the Bulgarian Chamber of Commerce, expressed concerns over Bulgaria’s economic direction, particularly regarding the goals of joining the Eurozone and Schengen. In a recent interview with BNR, he highlighted that these goals were crucial for economic growth but were currently sidelined due to the lack of a…
Inflation is expected to rise moderately at the beginning of 2025, according to the Bulgarian National Bank (BNB), despite a significant slowdown throughout 2024. September’s inflation rate reached a low of 1.2% YoY, marking the slowest pace in the last four years. The BNB’s latest “Economic Review” report anticipates this deceleration to continue until year-end,…
As the start of the ski season in Bansko approaches, hoteliers and restaurant owners in the resort are grappling with a shortage of staff. In response, many have turned to hiring workers from third countries to ensure there is enough personnel to serve tourists. The influx of foreign workers, including maids from India, valets from…
Bulgaria could potentially adopt the euro on July 1, 2025, if all the necessary steps are taken within the required timeframe. According to an analysis by Stanislav Popdonchev, Deputy Chairman and Chief Financial Officer of the Bulgarian Chamber of Commerce, Bulgaria has time to meet the conditions for euro adoption until the middle of 2025,…
In Bulgaria, the demand for workers had been steadily increasing, a trend that continued into the past year. Despite this, more than 200,000 people in the country who are capable of working remain unemployed. This raises the question of why such a large portion of the potential workforce is not engaged in the labor market.…
Over the next year, more than 17,000 Bulgarian companies are planning layoffs, marking a nearly 37% rise in firms forced to scale back and reduce staff. In 2023, 12,600 companies reported similar workforce reductions. The data come from a study by the Employment Agency on labor market needs. Sectors most affected include trade, transport, and…