Sofia's 2025 budget grows to 2.87 billion levs
Sofia City Council has approved the 2025 municipal budget, now set at 2.87 billion levs after being amended by GERB, BSP, and Spasi Sofia to include an additional 28 million levs. Initially proposed by Mayor Vassil Terziev, the budget was sent back for revision earlier in June due to concerns over imbalances.
Deputy Mayor for Finance Ivan Vassilev described the final version as more balanced but warned of increased spending that may create long-term financial challenges. The council also approved a new financial framework for public transport, including a salary increase of 300 levs for all workers retroactive to April 1, defusing the threat of protests.
Minimart hits 100 stores in Sofia, targets 500 nationwide
Bulgarian convenience store chain Minimart has opened its 100th store in Sofia as part of an ambitious expansion plan aiming for 500 locations and 150-200 million euros in revenue.
Since launching in March 2023, the chain has grown rapidly, attracting both private and institutional investors. Its franchise-style model gives partners full operational control over stores with strong support and guaranteed income. Minimart's focus on convenience, strategic locations, and local customer connection is fueling its success in a traditionally underdeveloped segment of Bulgarian retail.
Kaya VC eyes Bulgaria as key investment destination
Czech venture capital fund Kaya is taking a generalist investment approach, with a focus on less typical VC sectors such as biotech, new materials, healthcare, and deep tech. The fund seeks strong technical teams building globally scalable products.
By dedicating part of its 70 million-euro fund to startups in Bulgaria, Kaya marks a shift away from the recent trend of local VC funds focusing their investments abroad. This move helps rebalance the landscape, which in recent years has relied mostly on state-backed funds restricted to domestic investments.
Sofia's 2025 budget grows to 2.87 billion levs
Sofia City Council has approved the 2025 municipal budget, now set at 2.87 billion levs after being amended by GERB, BSP, and Spasi Sofia to include an additional 28 million levs. Initially proposed by Mayor Vassil Terziev, the budget was sent back for revision earlier in June due to concerns over imbalances.
