PM opposes Radev's referendum request
President Rumen Radev is set to submit a proposal to the National Assembly for a referendum on whether Bulgaria should adopt the euro in 2026, just weeks before the European Commission is expected to release a convergence report likely confirming the country's readiness to join the eurozone at the start of that year. However, the initiative has received little political backing, with a clear parliamentary majority expected to oppose it by the end of the week.
The main parties - GERB, WCC-DB, the MRFs, and BSP - are all opposing a referendum, while Vazrazhdane, TISP, MECH, and Velichie are in favor. Prime Minister Rosen Zhelyazkov called on Parliament to reject the president's request outright, arguing that it is unconstitutional, as Bulgaria's accession to the EU - and therefore the euro - was ratified by a treaty back in 2005.
Stagnant growth in manager hiring and salaries in Bulgaria
After a 20% increase in 2023, executive salaries in Bulgaria stabilized in 2024, with no major raises expected in 2025, according to the Bulgarian Executive Search Agencies Association (BESA). Demand for top-level managers dropped by 35% last year, driven by economic challenges in Europe, and is expected to remain low amid global uncertainty, including potential trade tariffs in the U.S.
Executive pay remains highest in IT and manufacturing, but financial directors have dropped out of the top three best-paid roles. Interest is growing in non-monetary benefits such as equity, insurance, flexible hours, and more leave days. Despite stagnation, net annual executive salaries in Bulgaria now range from 90,000 to 250,000 leva, which aligns with European levels.
Kapitan Andreevo to get 100 million levs refit
Kapitan Andreevo, a border crossing with a rich but sometimes problematic history, is set for a significant renovation. The project, backed by Glavbolgarstroy for 100 million levs, aims to increase the crossing's capacity by 25%. Initially budgeted at half the final cost, the increase is attributed to inflation and additional work required. The renovation will enhance passenger and cargo flow, aligning the crossing with Schengen security standards, following Bulgaria's accession in January 2025. The border point, crucial for trade between Asia and Europe, is currently the second busiest in the world by truck traffic, necessitating this upgrade to reduce congestion.
PM opposes Radev's referendum request
President Rumen Radev is set to submit a proposal to the National Assembly for a referendum on whether Bulgaria should adopt the euro in 2026, just weeks before the European Commission is expected to release a convergence report likely confirming the country's readiness to join the eurozone at the start of that year. However, the initiative has received little political backing, with a clear parliamentary majority expected to oppose it by the end of the week.
