It is quite possible that mass bankruptcies in our sector begin, Svetoslav Stanulov, President of Bulgarian Airlines Association warned in an interview for BNR. The state subsidizes 20-30% of the reduced revenues of the airlines, but after spending all financial reserves the branch needs state financial grants to survive, Mr. Stanulov contends.
Revenues from scheduled flights fell by about 65%. 90% decline was registered in the charter flight segment. There have been no charter flights in the last five months, and companies are not able to cover their fixed costs. The Bulgarian aviation sector employs about 4,500 people, but there have been few layoffs, because the staff employed at this sector is highly qualified, Svetoslav Stanulov explained.
The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February..
Moody's expects Bulgaria to join the Eurozone no later than the beginning of 2026. According to the rating agency, the growth of the Bulgarian economy in 2024 will be 2.9%. The ongoing domestic political crisis and the likelihood of new early elections..
Until the end of 2024, businesses will continue to receive compensations for high electricity prices. They will be 100% after a price of over 90 euros per megawatt hour on the stock exchange. The previous threshold was 100 euros. The..
The European Bank for Reconstruction and Development (EBRD) has slightly lowered its growth forecasts for the regions in which it invests. Bulgaria's..
The procedure for renewable electricity storage projects under the National Recovery and Resilience Plan is now open and proposals are being accepted...
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