Bulgaria’s Ministry of Finance projects a budget deficit of approximately 6.1 billion leva for 2024, equating to 3% of the anticipated GDP. This forecast aligns with the reference value set by the Stability and Growth Pact and is marginally better than the initial estimate of 6.2 billion leva outlined in the annual budget. The ministry…
Ukrainian President Volodymyr Zelensky has announced that once martial law is lifted, substantial funds from various sources will be allocated to revitalizing Ukraine’s economy, with a primary focus on major reconstruction projects. “If martial law is lifted, Ukraine will primarily focus its spending on rebuilding the state. If I may put it this way, a…
Since the eRobota government project was launched in July 2022, the state has invested more than UAH 11 billion in the development of small and medium-sized enterprises (SMEs) via grant programmes. The relevant statement was made by the Economy Ministry. “About 24,000 entrepreneurs have received grant support for the development of their businesses under the…
Former Finance Minister Simeon Dyankov has expressed concerns about Bulgaria’s eurozone prospects, warning that the country may be moving away from joining for years, potentially indefinitely. Speaking to Bulgarian National Radio, he suggested Bulgaria’s timeline has shifted at least two years forward, potentially targeting 2029. Dyankov criticized what he described as “two clumsy attempts” to…
Prime Minister of Ukraine Denys Shmyhal chaired a meeting on the implementation of the state budget and key indicators of economic and social development. The meeting was attended by representatives of the Ministry of Finance, the Ministry of Economy, the National Bank of Ukraine, the State Treasury Service, the State Customs Service and the State…
Bulgaria has solidified its position as a leader in the Balkans for startup creation, climbing one spot to 37th globally in the 2024 Global Startup Ecosystem Index and maintaining its rank as 23rd in Europe. The country continues to outpace its closest regional competitor, Romania, with three cities featured in the global top 1000. Notably,…
From January 1, the VAT rate for restaurant services in Bulgaria returned to 20%, marking the end of the temporary 9% rate introduced during the Covid crisis. The reduced VAT was extended several times, but no longer applied, also affecting the zero VAT rate on bread and flour, which reverted to 20%. While the caretaker…