Sofia has been ranked 195th out of 327 cities worldwide in Numbeo’s 2025 cost of living rankings. The analysis uses New York City as the baseline with an index of 100%. Cities with a higher index are more expensive, while those with a lower index are cheaper. Sofia’s cost of living stands at just 39%…
Preparations for Bulgaria’s entry into the eurozone are well underway, despite the exact timeline remaining uncertain. While the government has not specified the date of the country’s adoption of the single European currency, regulatory changes are being made to ensure a smooth transition. Recently, the caretaker government has approved a decision requiring the State Commission…
The European Bank for Reconstruction and Development (EBRD) set a new investment record in the Baltic States, committing 540 million euros in 2024. This surpasses previous highs of 358 million euros in 2022 and 323 million euros in 2023, with a remarkable 95% of the funding supporting green projects. Estonia and Lithuania led the way…
The practice of hiring workers without formal employment contracts remains a widespread violation of labor and social security laws in Bulgaria, according to data from the Confederation of Bulgarian Trade Unions (CITUB) collected over the past year. The most frequently affected sectors include services, repair work and the restaurant industry. Velichka Mikova, CITUB’s national secretary…
In January-November 2024 Ukraine exported $38.4 billion worth of goods, up by 16.5% YoY. At the same time, the import of Ukrainian goods increased by 11%, to $63.7 billion. The relevant data were published by the Ukrainian State Statistics Service. The negative foreign trade balance was $25.2 billion. In January-November 2023 it was also negative,…
Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry until the end of January, according to the former Finance Minister Lyudmila Petkova. She made the announcement during a visit to the Ministry of Finance following the official handover ceremony for the newly formed government.…
Bulgaria has met the inflation criterion required for entry into the Eurozone, with an average annual inflation rate of 2.6% over the last 12 months. This marks the fulfillment of the final condition needed for the country to adopt the euro, according to Asen Vassilev, co-chairman of We Continue the Change – Democratic Bulgaria (WCC-DB).…