We no longer offer the cheapest labor in the EU. With the increase in incomes, we have overtaken Hungary and Bulgaria is now second to last, Prime Minister Nikolai Denkov said at a Facebook briefing. The only thing that stops us for the Eurozone is the higher inflation in this country, since we started from a lower level of incomes.
At a meeting with president of the European Central Bank, Christine Lagarde, PM Denkov was told that "inflation is what Bulgaria needs to work on". We are discussing with the Minister of Finance what else we could do to reduce inflation faster. Some of our inflation comes from higher incomes in recent years, which are higher than inflation, but also because of the catch-up we have to do and the higher growth, which is one of the highest in the EU for 2023, the Prime Minister said.
Bulgaria’s industry is being transformed in the direction of high added value productions, reads an analysis by the Institute for Market Economics. This tendency is best manifested in computer science, electronics and optics which account for the..
Acceleration of inflation to 1.1% in October compared to the previous month was registered by the National Statistical Institute. On an annual basis, the index is 1.8 percent. In October, the prices of goods and services for..
A working group comprising representatives of employers, trade unions and government experts is discussing the proposals of the Ministry of Labor and Social Policy for introducing a new mechanism to determine the minimum wage. This is happening a day..
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