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.
Natural gas prices are expected to fall by about 14% from current levels, Bulgargaz CEO Veselin Sinabov told a public meeting of the Energy and Water Regulatory Commission (EWRC). This means that one megawatt hour will cost 31.91 euro, compared to 36.88..
The Bulgarian National Bank (BNB) has revised upwards its expectations for Bulgarian economic growth in 2025 but lowered its GDP growth forecast for 2026, it transpired from the Bank's regular quarterly Macroeconomic Forecast. In its March..
Bulgaria’s debt for 2024 amounts to BGN 48.846 billion (EUR 24 billion), or 24.1% of the country’s GDP, preliminary data from the National Statistical Institute (NSI) show. In 2023, the country's debt was BGN 42.383 billion (EUR 20.8 billion), or..
The positive convergence report will have a positive impact on people's standard of living and purchasing power, as well as on the country’s business..
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