Restaurant and hotel industry representatives in Bulgaria are escalating their protests against the planned increase in VAT for the sector, warning of rising prices, business closures and a return to the gray economy. They argue that while European countries are reducing VAT rates to support the hospitality industry, Bulgaria is moving in the opposite direction,…
In February, Bulgaria’s annual inflation rate rose to 4%, up from 3.8% in January, marking the highest level since December 2023. On a monthly basis, the inflation index increased by 0.6%, a rise compared to January’s 2% increase, according to data from the National Statistical Institute. The average annual inflation for the period from March…
Prime Minister of Ukraine Denys Shmyhal and Austrian Federal Minister for European and International Affairs Beate Meinl-Reisinger discussed the expansion of economic partnership, support for European integration and humanitarian aid. The meeting took place on March 14 in Kyiv. According to the Head of the Ukrainian Government, Austria supports the European aspirations of Ukraine and…
The Bulgarian National Bank (BNB) has launched an auction to sell scrap Bulgarian coins after the country adopts the euro. The central bank expects to gather a total of about 7,744,450 kg of coins, with 52,143 kg currently in its possession, while the remaining 7,692,307 kg will be made available once withdrawn from circulation. Under…
Mayor of Kyiv Vitaliy Klitschko instructed the executive body to allocate another 500 million hryvnias to finance the needs of the military. Vitaliy Klitschko stated this at the beginning of the Kyiv City Council meeting. “Various units constantly contact us with requests for assistance for the most necessary equipment. I would like to inform you…
Since the beginning of 2025, the Export Credit Agency has supported Ukrainian exports by UAH 1.79 billion. In total, UAH 72.96 million of bank loans for exporters have been insured. “In the first two months of 2025, ECA supported exports by almost UAH 2 billion. This demonstrates business confidence in state insurance mechanisms that help…
Dr. Boyko Takov, Executive Director of the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), has provided an economic analysis. Exports are often overlooked in favor of investments. While foreign direct investment is undoubtedly important, we must also recognize the critical role of exports. From an economic point of view, the export of products, services…