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
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According to the latest figures of Eurostat published on Tuesday, the unemployment rate in Bulgaria stood at 9.5 % in October 2015.
The unemployment rate in Bulgaria was slightly above the EU average of 9.3 %, amounting to 316 000 people
The unemployment rate retained its level from the previous month and decreased by 1.4 % compared to October 2014.
Unemployment remained higher among Bulgarian men (10.4 %) than women (8.5 %).
The unemployment rate in the EU-29 stood at 9.3 % in October, retaining its level from the previous month and recording a decrease of 0.8 % compared to the same month in 2014.
This is the lowest level of unemployment registered in the EU-28 since September 2009.
The unemployment rate in the euro area stood at 10.7 % in October, registering a decrease of 0.1 % compared to the previous month and a drop of 0.8 % of compared to October 2014
This is the lowest rate registered in the euro area since January 2012
Eurostat estimates that 22 497 000 people in the EU-28 were unemployed, of whom 17 240 000 were in the euro area.
The lowest unemployment rate in the EU-28 was registered in Germany (4.5 %), followed by the Czech Republic (4.7 %) and Malta (5.1 %), while the highest was recorded in Greece (24.6 % as of August) and Spain (21.6 %).
Compared with October 2014, the unemployment rate dropped in 24 member states and increased in four.
The largest decrease was registered in Spain, followed by Slovakia, Ireland and Croatia, while the increases were recorded in Finland, France, Belgium and Romania.
The unemployment rate among Bulgarian youth stood at 21.5 % in October, recording an increase of 0.4 % compared to the previous month and registering a decrease of 1.3 % compared to the same month in 2014.
This amounted to 37 000 unemployed Bulgarians under 25 years of age.
The EU average youth unemployment rate was 20 %, registering a slight increase of 0.1 % compared to the previous month and a drop of 1.7 % compared to the same month in 2014
The lowest youth unemployment rate was registered in Germany (7.1 %), followed by Austria (10.4 %), Denmark (10.9 %) and the Netherlands (11.6 %), while the highest was recorded in Greece (47.9% as of August), Spain (47.7 %), Croatia (43.1 % in third quarter of 2015) and Italy (39.8 %).
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