Grey economy accounts for 1/5 of Bulgaria's GDP, according to a study by the Bulgarian Industrial Capital Association and the National Centre "Economy in the Clear".
Still, since 2010, the share of the regulated economy has increased by 15%, from 63.35% to 78.40%. Despite this positive trend, the informal sector in Bulgaria has a higher rate than in any other EU country.
"We have seen a significant improvement - the number of employment contracts where employees are insured on minimum wage while in reality they receive more, has decreased, , says the author of the study Stefan Petranov. The sectors most affected by the informal economy are services, hotels, restaurants, construction and agriculture.
A forum entitled "Career and Life - Why in Bulgaria?", organized by the Bulgaria Wants You platform, was held at the Royal Geographical Society in London on October 20. The event, which took place for the second time, attracted significant..
International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone..
In 2023, Bulgaria's GDP growth was 1.9% higher in real terms compared to 2022. This is 0.1 percent more than the initially announced growth of 1.8%, the National Statistical Institute has reported. The chairman of the institute,..
A forum entitled "Career and Life - Why in Bulgaria?", organized by the Bulgaria Wants You platform, was held at the Royal Geographical Society in..
Partly Cloudy
Clear