Bulgaria’s Deputy Prime Minister and Finance Minister Lyudmila Petkova confirmed that the draft budget for 2025 would target a deficit of no more than 3% of the country’s GDP. This assurance was made during a meeting with European Commissioner for Economy Paolo Gentiloni ahead of the Eurogroup meeting, according to a statement from the Ministry…
A regular survey conducted by SEB bank covering large companies in the three Baltic countries shows that confidence in the economic outlook is at a low point in Estonia, trailing behind both Lithuania and Latvia, Peep Jalakas, head of corporate banking at SEB, has said. The survey describes how more than 300 large companies view…
In September, $52.3 billion in customs payments was collected for the state budget, up by $1.2 billion MoM, the State Customs Service reported. “In September, the budget received $52.3 billion in customs payments. Thanks to the stability of Ukrainian business operations, payments to the budget increased by $1.2 billion compared to the previous month,” the…
The number of young people up to the age of 25 who are heavily in debt is on the rise in Bulgaria, with the fastest-growing demographic being young individuals, even those with stable incomes. Financial mismanagement is primarily to blame, particularly among men, who tend to incur more debt than women. This alarming trend is…
Bulgaria’s Ministry of Finance is optimistic that the final requirement for joining the Eurozone will be met until December, according to the acting Deputy Prime Minister and Minister Lyudmila Petkova. This criterion pertains to inflation, and Bulgaria plans to request a new assessment within two weeks following its fulfillment. During a presentation on the financial…
Tourism Minister Evtim Miloshev announced that 2024 had been the best year for Bulgarian tourism since the introduction of statistical tracking. Indicators such as tourism revenue, accommodations, tourist numbers, registrations and border checkpoint traffic have all reached record levels. Despite the positive data, Miloshev noted that Bulgaria’s resorts still faced significant challenges that needed addressing.…
The hryvnia weakened by 13% against the dollar over the year of the managed flexibility regime on the foreign exchange market, which at the same time helped curb inflation and improve the trade balance, the National Bank Governor Andriy Pyshnyi wrote this in an oped for Economic Pravda. “In the year of managed flexibility, the…