The MPs approved, at first reading, the update of the state budget. As of 1 July a differentiated VAT rate is being put in place – for bread VAT will be zero, for natural gas supplies – 9% instead of the current 20%. VAT on wine and beer served at bars and restaurants will be 20%, up from 9%, a reduction that was introduced during the pandemic. Pensions are to go up as well.
The budget is calculated at an economic growth of 2.9% and an annual inflation rate of 11.9%, even though, according to the National Statistical Institute, annual inflation now stands at over 15%.
The most heated debates in plenary were over the increase in the debt limit to EUR 5.1 billion. Deputy Prime Minister and Minister of Finance Assen Vassilev gave as the reason for this the need to revolve old government debts.
The Celestial Empire, the “world’s factory”—that is China, the globe’s second-largest economy. The Asian powerhouse is actively expanding its economic reach worldwide, with the Belt and Road Initiative as the apogee of these efforts, through which..
The demand for employees increased by 5% in August, or by over 1,700 more offers compared to July, one of the largest HR companies in Bulgaria reported to BTA. But on an annual basis there is a decline of 7% , or by 3,100 offers. The "Trade..
In the second quarter of 2025, Bulgaria recorded the second-highest GDP annual growth in the European Union with a rise of 3.4% compared to the same period last year, according to Eurostat data. Compared to the previous quarter of 2025, Bulgaria..
Mostly Cloudy
Rain
Overcast, rain
Cloudy
Cloudy