Surge in New Hotels, Restaurants, and Tech Startups in Bulgaria
The economic landscape of the country is experiencing a dynamic shift as new hotels, restaurants, and technology startups emerge at an unprecedented rate
Bulgaria's Prime Minister, Plamen Oresharski, has said the first signals of economic improvements amidst the global crisis could be seen.
Oresharski took part in the informal meeting of the financial ministers and central bank governors of the EU member states, which took place in Prague, Czech Republic.
Oresharski pointed out he hoped those first positive signals would turn out to be lasting and stable. In his words, positive signals for the global economy came from the recent G-20 meeting in London, and now these had to be implemented.
The Finance Minister was explicit that there was no need to modify Bulgaria's state budget in order to shrink public spending.
Oresharski made it clear Bulgaria was no exception from the grave global downturn but at the same time the Bulgarian budget had greater flexibility as far as public spending was concerned.
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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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