The Ministry of Finance has unveiled the draft budget for 2025, alongside the updated medium-term fiscal forecast covering 2025 to 2028. The draft foresees a 3% deficit for the upcoming four years, while the country’s state debt is projected to rise to 81 billion leva until 2028. The budget’s revenue is expected to reach 92.5…
Housing affordability in Sofia has improved since the pandemic, making it one of the few capitals in Central and Eastern Europe (CEE) to experience this positive trend, according to a report by Colliers International. The consultancy examined housing affordability from two key perspectives: the ability of an average salary earner to secure a loan from…
Bulgaria is expecting a boost in winter tourism this year, with about 3.1 million foreign visitors projected between December and March 2025, an increase of 5% compared to last year’s 2.9 million, according to Rumen Draganov, director of the Institute for Analysis and Forecasts in Tourism. This is also a notable rise of over 20%…
Bulgaria is expecting a 5% increase in tourist arrivals this winter season, according to the acting Minister of Tourism Evtim Miloshev. This growth is anticipated amid preparations for the winter resorts’ opening, which includes significant coordination among various stakeholders to ensure smooth operations. Miloshev shared these expectations during a meeting held at the Borovets resort…
In recent weeks, there has been ongoing concern regarding the state’s expenses for next year, with projections showing that costs far exceed available funds. As a result, savings are being emphasized. However, municipalities have raised concerns about how these cuts might impact their investment programs, questioning whether they will still receive subsidies from the state…
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023, as reported by the National Statistical Institute (NSI). The increase was also evident when compared to the previous quarter, with a 0.6% rise in GDP. In monetary terms, GDP reached 53,769.8 million…
In Bulgaria, the current labor market is facing a situation where job supply exceeds demand, creating challenges for employers. The issue lies in the lack of necessary skills among available workers for the positions that need to be filled. This was discussed by Maria Sentova, a psychologist and HR expert, during the “Psychology and Business”…