Day in 3 news: Growth slows to just two percent; New industrial zone to be developed by 2026 in Burgas; First of ten retail parks from Mitiska REIM starts construction

Day in 3 news: Fixed electricity prices for households extended beyond July; MRF - Dogan loses its headquarters; Bulgarian museums come out in protest

Day in 3 news: Bulgaria’s economy grows; Rapid rise in Bulgarian salaries; Lufthansa Technik bets on Bulgarian IT firm

Bulgaria’s Informal Economy: 34.6% In the Shadows

More than half of the added value in sectors like hospitality, agriculture, and construction comes from undeclared income, according to a report by Kearney and Visa

Ruling majority passes a record budget for 2025 with Peevski’s backing

VAT registration threshold drops to 100,000 levs. The government plans to draw 18.9 billion levs of debt this year

Mortgage lending boosts Bulgarian banks’ 2024 profit to 3.7 bln levs

DSK, Unicredit Bulbank lead the ranking with nearly a billion levs in profit each

Day in 3 news: Migrant trafficking scheme unveiled; Wage growth in Bulgaria concerns Austrians; Sofia and Plovdiv’s air still dangerously polluted

Draft Budget 2025 Stuck in Limbo

For now, there is no parliamentary majority to advance the controversial draft budget of the caretaker cabinet to a vote.

Over 40% of businesses expect 2025 to be worse – BIA survey

Glavchev’s caretaker cabinet has the approval of 21% of respondents, the judiciary garners only 1%, trust in parliament stands at 0%

Day in 3 news: Business grows uneasy over political crisis; Real estate market to cool in 2025; Kaufland opens new store

The biggest employers: strong wage growth, stagnant hiring

The ranking of the top 200 companies by staff for 2023 shows layoffs in the automotive, bicycle and call center sectors, while IT and supermarket chains keep hiring

The day in 3 news: 2025 Draft Budget: A risky path forward; Threat to halt gas transit for Gazprom over debt; Proposed VAT changes for property sales

Day in 3 News: Parliament breaks deadlock, elects Natalia Kiselova as speaker; State bets on 2.8% growth, lower wage increase in 2025; 10% planned rise in social security contribution

Bulgaria’s 2025 Budget: We Have a Problem

Instead of voting for more populism-driven spending, parliament has to consider unpopular measures to tighten state finances

The day in 3 news: Mob storms Malkovich’s Sofia play; Mondi Group quits Bulgaria after fire; Spending cuts needed to keep 3% deficit

Day in 3 News: Vitosha factory site will be apartment complex; Labor market stagnates; End of year spending must be curbed for Eurozone goals

Germany's struggles reveal an uncomfortable truth about Bulgaria's economy

Structural problems affecting Bulgaria’s largest trading partner will affect local industries that fail to adapt and diversify their clients

Rising Wages, Lagging Productivity: The End of Bulgaria’s Cheap Labor Advantage

Income growth in Bulgaria outpaces labor productivity by far, signaling the end of the low-cost labor model

The day in 3 news: Danish firm is Sofia’s biggest private landlord; Era of cheap labor ends; Former Varna Mayor Portnih charged with fraud

Bulgaria’s 2025 Budget Faces Challenges with a Significant Expenditure Overrun

Budget revenues are growing at a much slower pace than expenditures, while EU funds remain elusive for now