IMF Concludes Regular Mission in Bulgaria, Recommends Restoring VAT to Pre-Pandemic Levels
The International Monetary Fund (IMF) has wrapped up its regular mission in Bulgaria
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
For all the noisy debate in Western Europe about foreign workers, mass emigration puts economies of former Eastern Bloc members under pressure, a recent Reuters argues while discussing Bulgaria's demographic problems.
The article, which is titled "As Bulgaria Empties, Government Struggles to Dole Out Pension Pot," points to the fact that the share of Bulgaria's pension system in the central budget is currently 37.5%, up from 12.8% in 2003, partly due to "the exodus of Bulgarians since Communism fell in 1989."
Reuters quotes Labor Minister Ivaylo Kalfin as saying this could increase by 70 percent in ten years.
Against this backdrop it reminds that in Bulgaria the average age to receive old age pension is 57 and this is the EU's lowest together with Poland, Romania, Slovenia and Slovakia.
The text summarizes some of their problems in the pension system, such as employers dodging insurance contributions, a surge in claims for disability pensions, and the shrinking percentage of younger voters who are net contributors to the budget.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Brazen Bulgarian gangs "terrorise the elderly and rob them over their life savings with increasingly aggressive phone scams nettling millions of euros," according to an AFP story.
The prospect of US President Donald Trump's moving closer to Russia has scrambled the strategy of "balancing East and West" used for decades by countries like Bulgaria, the New York Times says.
Bulgarians have benefited a lot from their EU membership, with incomes rising and Brussels overseeing politicians, according to a New York Times piece.
German businesses prefer to trade with Bulgaria rather than invest into the country, an article on DW Bulgaria's website argues.
The truth about Bulgaria and Moldova's presidential elections is "more complicated" and should not be reduced to pro-Russian candidates winning, the Economist says.
President-elect Rumen Radev "struck a chord with voters by attacking the status quo and stressing issues like national security and migration," AFP agency writes after the presidential vote on Sunday.
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion