Excise taxes on tobacco products and alcoholic beverages, including beer, will rise in 2025 as part of a measure by the Ministry of Finance to boost government revenue. This increase is expected to make these goods more expensive for consumers. The excise tax on alcoholic drinks, including beer, is set to increase by 10% to…
The Ministry of Finance has projected a significant increase in the state debt over the period from 2025 to 2028, estimating a rise of about 1.7 times. According to the Draft Strategy for State Debt Management for this period, the ratio of state debt to GDP is expected to grow steadily, reaching 27.7% until the…
The Ministry of Finance has decided to abandon the proposed tax on subsoil resources, according to Acting Deputy Prime Minister and Minister of Finance Lyudmila Petkova. During a parliamentary blitz control, Petkova explained that the Minister of Energy would increase concession fees to compensate, at least partially, for the anticipated revenue loss. Additionally, a one-time…
“Inter IKEA Group”, which includes Sweden’s “IKEA of Sweden”, has acquired furniture retailer “IKEA” retailers in Baltic States. The deal includes three full-size “IKEA” stores in Riga, Vilnius and Tallinn, five small customer service locations in the Baltic States, as well as an e-commerce and digital retail development company. The company does not reveal the…
Ukraine and Germany are deepening cooperation in implementing business and human capital support programmes in Ukraine. This was discussed during a meeting between First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko and German Federal Minister for Economic Cooperation and Development Svenja Schulze. During the meeting, the parties stressed the importance of…
Another phase of the “Made in Ukraine” grant program for processing enterprises has selected its winners, with 75 companies receiving a total of UAH 348.1 million in funding. “The Ministry of Economy has already issued an order to provide grants from the state budget to 15 winners of this phase. Together, they will receive almost…
The Bulgarian National Bank (BNB) has expressed strong opposition to the draft state budget for 2025, which is set to be officially submitted to the National Assembly by the caretaker government. The central bank’s position highlights several concerns regarding the proposed budget’s parameters and its potential negative impact on Bulgaria’s fiscal stability and long-term economic…