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…
In 2024, the state budget received $41.7 billion of external financing. Grants amounted to about $12.6 billion, around 30% of the total amount of financing. At the same time, Ukraine received all loans on concessional terms. “The $41.7 billion in financial assistance represents a remarkable achievement, made possible through the dedicated efforts of the President…
Bulgaria’s minimum wage is set to rise to 1,077 leva (550 euros) from January 2025, despite the absence of an adopted budget for the year. The increase, implemented through a government decree published in the State Gazette in October, marks a 15.4% hike from the current 933 leva. This adjustment follows a pattern of steady…
The European Bank for Reconstruction and Development (EBRD) has partnered with UniCredit Bulbank to support the growth and sustainability of Healthy Bars, a leading Bulgarian protein bar producer. As part of this partnership, the EBRD will share the risk on a EUR 14.8-million senior secured loan provided by UniCredit Bulbank to the company. Through an…
If Bulgaria adopts the euro in July 2025, property prices are expected to rise further, according to Yavor Peychev, executive director of the real estate agency “Imoteka”. He predicts that finding buyers for properties priced higher than the market value will become more challenging. While sellers have dominated the market in recent years, taking advantage…
At the end of 2024, Ukraine’s gross domestic product (GDP) is expected to increase by 4%, of which 0.64% has been provided by the “Made in Ukraine” economic policy. The relevant statement was made by the Economy Ministry. “In the overall growth of 4% this year, 0.64% (i.e. over UAH 88 billion) has been provided…
Bulgaria ranks at the bottom of the European Union when it comes to vacation habits, with a significantly lower percentage of people taking time off for holidays compared to other EU countries. In 2022, just over a quarter of Bulgarians took a vacation for personal reasons, placing them at the bottom of the list. Romania,…