German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
Romanian businesses have started to move on mass to Bulgaria, in an attempt to avoid the worst affects of the current global financial crisis in their home country, Bulgarian daily newspaper Standart reported Thursday.
The Bulgarian border city of Ruse has already seen a boom in rental property business and is expecting this to continue well into 2009.
This business orientated migration comes about due to the lower running costs of businesses in Bulgaria, up to 40% less according to some experts. Wages for staff are much lower along with insurance payments and electricity bills according to Kamen Kolev the Director of the Bulgarian Industrial Association.
Kolev also added that multi-national companies from Bulgaria's Southern neighbor Greece are also starting to move their attention to Bulgaria for the same reasons. He added that the average wage in Bulgaria is EUR 267 while in Greece it is EUR 1400.
The Greek newspaper ‘Vima' concluded that cheaper running costs are attracting Greek companies and multi-nationals to Bulgaria, stating that Tate&Lyle Greece, Unilever, US company Crown Cork & Seal and German firm Triumph have already started or completed the move North.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022