Bulgaria and Turkey stand out with the lowest average annual net incomes in Europe, amounting to 9,355 euros and 8,968 euros respectively, according to data from Eurostat. This stark contrast underscores the significant wage disparities across the continent, influencing employment dynamics and economic decisions. Northern and Western European nations typically boast the highest average net…
In June, Ukraine’s GDP grew by 1.1% compared to June last year. As a result, in the first half of the year, GDP growth was estimated at 4.1% compared to the same period last year. These data were released by the Ministry of Economy. The main factor behind the slowdown in economic growth was the…
In June, inflation in Ukraine’s consumer market was 2.2% compared to May; a month ago, consumer prices rose by 0.6% compared to April. This was reported by the State Statistics Service. “Inflation in the consumer market in June was 2.2% compared to May, and 4.3% since the beginning of the year,” the report says. Prices…
Hungary is blocking around EUR 2 billion (8.5 billion zloty) of EU funds earmarked for Poland to compensate for military aid Warsaw has provided to Ukraine. “The Polish government has been repeatedly communicating to Hungary at all possible levels that we are dissatisfied with the fact that Hungary has, for a year now, been blocking…
There are currently 380 companies operating in the Bulgarian automotive industry, with the sector employing more than 80,000 people and accounting for over 10% of the country’s gross domestic product, Automotive Cluster Bulgaria (ACB) has said in a press release. Parts and components made in Bulgaria have been used in between 80% and 90% of…
First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko has signed a financial agreement between Ukraine and the European Union providing for EUR 5.27 billion in grant assistance under the Ukraine Facility over the next four years. The decision to attract grant support from the EU was made at a Government meeting…
Bulgargaz, Bulgaria’s state gas supplier, has initiated legal proceedings against Gazprom, the Russian energy monopoly, seeking 400 million euros in compensation for damages caused by the unilateral suspension of natural gas supplies over two years ago, as of the end of April 2022. The arbitration claim was lodged recently at the International Chamber of Commerce’s…