The Bulgarian government has effectively abandoned its plan to enter the eurozone on January 1, 2026, after Finance Minister Temenuzhka Petkova announced she would not request an extraordinary convergence report from the European Commission and European Central Bank. The country falls short of the inflation criterion by just 0.1%, with the current average annual inflation…
The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March. Under the new measure, the full difference will be covered when the exchange price exceeds 180 leva per megawatt-hour, effectively preventing electricity bill increases. Energy Minister Zhecho Stankov emphasized the program’s dual…
The adoption of amendments to the Law on the Bulgarian National Bank (BNB), crucial for Bulgaria’s entry into the eurozone, was unexpectedly blocked in parliament as the ruling GERB party withheld its support. These changes, introduced by Dimitar Glavchev’s caretaker government, aimed to align the BNB leadership’s responsibilities with constitutional reforms from 2023, which allowed…
During the World Economic Forum in Davos First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko and European Commissioner for Enlargement Marta Kos discussed further support for Ukraine and the integration of its economy into the EU. This is the first meeting of the First Deputy Prime Minister with the newly appointed…
Over the past week entrepreneurs received 287 concessional loans totalling UAH 0.71 billion from authorised banks under the Government’s Affordable Loans at 5-7-9% programme, including 202 loans from public sector banks for over UAH 0.32 billion. Since the beginning of 2025 entrepreneurs have received 803 loans worth UAH 2.7 billion under the programme, including 520…
Businesses in Bulgaria have identified cyberattacks as a growing concern, placing them among the top 10 risks for the first time in 2025, according to the Allianz Risk Barometer. The survey, conducted by Allianz Commercial, reflects feedback from over 3,778 risk management professionals across 106 countries, offering insights into global and local business challenges. Globally,…
Sofia has been ranked 195th out of 327 cities worldwide in Numbeo’s 2025 cost of living rankings. The analysis uses New York City as the baseline with an index of 100%. Cities with a higher index are more expensive, while those with a lower index are cheaper. Sofia’s cost of living stands at just 39%…