Germany Urges Swift EU Accession for Western Balkan Countries
German Foreign Minister Annalena Baerbock has issued a compelling call for the expedited integration of candidate countries from the Western Balkans into the European Union
The cost of labor in Bulgaria is by far the lowest among the European Union's 27 member states, according to data by the German Federal Statistical Office released Tuesday.
At EUR 3.7 per hr worked in 2012, labor cost Bulgaria is more than 6 times lower than the EU's EUR 23.5 average, and more than 7.5 times lower than the eurozone EUR 28.2 average.
The list is topped by Sweden at EUR 41.90, Belgium at EUR 40.4, and Denmark at EUR 39.5 per hr worked, with labor costs in the remaining top 5 member states - France and Luxembourg - also close to 10 times higher than that in Bulgaria.
At 6.4%, growth of labor costs in Bulgaria and Estonia is highest, according to the data revealed.
However, work in Estonia is rated at EUR 8.6 per hr, and labor in Bulgaria is still twice cheaper than in member states that follow Estonia, Hungary, ranked 22nd at EUR 7.9, and Poland, ranked 23rd at EUR 7.4.
Bulgaria's data for the manufacturing sector parallel overall data, with Bulgaria last at EUR 2.9 per hour.
Romania is second-to-last and has overall labor costs of EUR 4.5 and EUR 3.8 for manufacturing.
Greece is the only country to have recorded a negative growth of labor costs last year, with a drastic 6.8% decrease.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Kozloduy Nuclear Power Plant (NPP) in Bulgaria is set to embark on a significant transition as it begins the process of replacing Russian nuclear fuel with American fuel from Westinghouse
In a significant stride towards enhancing connectivity between Turkey and Bulgaria, the launch of direct flights between Istanbul and Sofia marks a milestone in air travel
As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
In March, there was a significant uptick in Bulgarians traveling abroad, marking a 19.1% increase from the previous year, amounting to 679.1 thousand trips
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022