The level of the formal economy in Bulgaria is rising at a pace that brings it closer to the European benchmark of 85%. According to a study by the Bulgarian Industrial Capital Association (BICA), the formal sector increased by 23% in the last 12 years. Bulgaria's formal economy is catching up with the average European percentage, but remains far behind the Scandinavian countries and Northern Europe which top the ranking.
Since 2010, when the survey began, the share of the informal economy has declined by 15%, BICA Executive Director Dobrin Ivanov said for BNR. The trend slowed down only during the financial crisis in 2014 and during the peak of the Covid-19 pandemic in 2020. "I think that Bulgaria is unfairly called the most corrupt country and the country with the largest grey economy", said Dobrin Ivanov.
With the introduction of the euro on January 1, Bulgaria will benefit from the stability, liquidity and all the advantages of the common currency, European Central Bank President Christine Lagarde said in an interview with public service..
The Ministry of Innovation and Growth has presented the country’s first interactive investment map . The platform aims to provide Bulgarian and foreign investors with useful and up-to-date information in one place, making it easier for them to make..
The Bulgarian state-owed natural gas supplier Bulgargaz has proposed that the price of natural gas for November increases by around 8% to nearly 66 BGN per megawatt-hour, excluding fees and taxes, reported BNR's journalist Yuliana Kornazheva. The..
Mostly Cloudy
Cloudy
Cloudy
Scattered showers