China's Economy Surges with 5.3% Growth in First Quarter
China's economy experienced robust growth in the first quarter of 2024, defying market expectations and signaling resilience amid challenges in the property market
Bulgarian President, Georgi Parvanov, has shown many times that he is clueless when it comes to economy and his experts have no clue either.
The statement was made Tuesday by Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, in the aftermath of Parvanov's televised words that Bulgarian retirees are paying the social price of the economic crisis.
"I will have to visit the hometown of Pernik of our Communist President (Parvanov is the former leader of the Bulgarian Socialist Party, BSP) when during the time of his term, the term of a Socialist cabinet and a Communist Mayor they could not get organized to fix the damage of the city's theater. The building burned down during their term as well, and now I have to fix it," Djankov said.
The Deputy PM stated that he would not allow money from the State budget to be spent on election campaigning as it was the norm during previous cabinets in the last months of their terms in office.
Djankov assessed the privatization of the Bulgarian State-owned tobacco monopoly Bulgartabac Holding as "successful," but declined comments if part of the funds from the deal is going to be used to up the minimum retirement pensions.
The money from the sale is supposed to be deposited in the Retirement Fund, not the State budget.
The Deputy PM voiced optimism about revenues in the budget, saying the National Revenue Agency, NRA, has been able to make up their delay in collecting revenues by BGN 30 M and the Customs Agency – by BGN 80 M.
When asked if Bulgarians are to expect another increase in the work wages for 2012, Djankov replied:
"We can make better forecasts for next year unlike the current one – Bulgarian public finances are more stable, so as early as November we will know what opportunities we will have."
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
In a recent report by the National Statistical Institute, Bulgaria's annual inflation rate for March witnessed a notable deceleration, settling at 3% compared to the previous month's figure of 3.0%
As Bulgaria grapples with a deepening political crisis and the looming specter of early elections, the economic ramifications are starkly evident
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022