Bulgaria’s Minimum Wage: The Lowest in the EU, Yet Steady Growth Over the Last Decade
Bulgaria has the lowest minimum wage among the European Union member states as of January 2025, standing at 551 euros
The International Monetary Fund (IMF) said on Tuesday that it expects the Bulgarian economy to grow by a real 3.3% in 2019, up from its October 2018 projection for 3.1% growth, reports SeeNews.
Bulgaria's gross domestic product is then expected to rise by a real 3.0% in 2020, the IMF said in the latest edition of its World Economic Outlook (WEO) report.
Annual average consumer price inflation is seen slightly slowing down from 2.6% last year to 2.4% in 2019, and 2.3% in 2020.
Unemployment is expected to edge down from 5.2% in 2018 to 5.0% this year and in 2020.
Bulgaria’s current account balance calculated as percentage of GDP is projected to fall steadily, but remain positive. The country ended 2018 with a current account surplus of 3.9%, and is expected to post surplus of 1.9% and 1.3% in 2019 and 2020, respectively.
Bulgaria has the lowest minimum wage among the European Union member states as of January 2025, standing at 551 euros
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Economists have urged Bulgaria’s leadership to submit an application to the European Commission and the European Central Bank for an extraordinary convergence report on joining the eurozone
Representatives of Bulgaria’s ruling coalition have once again highlighted a significant deficit in the state budget, with Stanislav Balabanov from "There Is Such a People" (TISP) stating that 2025 will be a transitional year regarding the eurozone
Valeri Belchev, former acting Minister of Finance, recently expressed strong concerns about Bulgaria's financial management, particularly focusing on the lack of proper budget management tools
Kalin Hristov, former deputy governor of the Bulgarian National Bank and former finance minister, expressed concern over the public discourse on key economic issues
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