According to Eurostat data, Bulgaria’s tax-to-GDP ratio is among the lowest in the European Union. In 2023, the overall tax-to-GDP ratio for the EU, which included the sum of taxes and net social contributions as a percentage of gross domestic product (GDP), was recorded at 40%. This figure represents a decrease from 40.7% in 2022.…
The winner of the auction for the privatisation of the Ukraina Hotel paid UAH 2.5 billion to the state budget. Also, UAH 502 million in VAT was paid. In total, the Ukrainian budget received over UAH 3 billion. “The first large-scale privatisation object has acquired new owners, which means it has prospects for additional investment…
In a significant move to boost business relations, ten business leaders in Bulgaria established the first Bulgarian-Czech Chamber of Commerce at a recent event held at the Czech Embassy in Sofia. The gathering was attended by Czech Republic Minister of European Affairs Martin Dvorak and Czech Ambassador to Bulgaria Miroslav Toman. The prominent Bulgarian PR…
For the first time, the money circulation in Bulgaria has surpassed 30 billion leva. According to the Bulgarian National Bank’s (BNB) publication “Overview of the Issue and Cash Activity”, the total value of banknotes and coins in circulation reached BGN 30 billion and 356 million as of the end of September. The number of banknotes…
The European Bank for Reconstruction and Development (EBRD) will allocate funds to upgrade the dual-voltage electric locomotive fleet, and Ukrzaliznytsia JSC will purchase 50 electric locomotives as part of this loan. The relevant statement was made by the Ukrainian Communities and Territories Development Ministry, following a meeting between the representatives of the ministry and the…
The Economy Ministry has published an updated guide with instructions and recommendations for entrepreneurs who are planning to implement investment projects worth at least UAH 12 million. The relevant statement was made by the ministry’s press service. “The updated guide explains in detail the requirements for investment projects and applicants, including the necessary documents and…
In the first half of 2024, household electricity and natural gas prices in Bulgaria ranked among the lowest in the European Union, according to recent data from Eurostat. Overall, electricity prices for EU households showed a slight decline in the first quarter of 2024 compared to the same period in 2023, while Bulgarian households benefitted…