Minimum Wage Hike on the Horizon for Bulgaria in 2025
Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
The State General Reserve Fund (SGRF) of the Sultanate of Oman is working with the Bulgarian government to handle the situation at Corporate Commercial Bank (Corpbank or KTB).
SGRF President Darwish al-Balushi, also serving as the country's Finance Minister, made the announcement, stopping short of revealing any details, BGNES wire service reports.
He told reporters KTB, which was severely hit by a bank run in June and requested to be placed under special supervision by the central bank BNB, had "no problems related to its financial status, its assets or its performance".
Its issues "are related to the government and the regulators instead," Al-Balushi added without elaborating.
SGRF is Corpbank's second-largest shareholder, owning about 30% of its assets.
The BNB announced last week the two biggest shareholders in the bank had declaret their intention to offer rescue plans.
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Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
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