Bulgaria Outpaces EU in Spirit Exports, Wine Plays Key Role
In 2024, Bulgaria's exports of alcoholic beverages totaled 30.4 million euros
German carmaker Volkswagen is very close to the final decision to build a new plant in Turkey, a company board member told reporters in Berlin today, Reuters reported.
We are in the final stages of negotiations with Turkey, said Andreas Tostmann, a member of the Volkswagen council in charge of production. He expects the talks to be completed within two weeks, and "maybe sooner".
Sources close to the company say the plant will cost more than 1 billion euros ($ 1.09 billion).
According to their data, the plant will probably produce 300,000 cars a year - VW Passat and almost identical Skoda Superb for export to Eastern Europe, BTA reports.
The Manisa plant near Izmir is expected to employ about 4,000 people. Construction can begin at the end of 2020 and production in 2022 according to sources.
Volkswagen has been exploring the possibilities of building a new plant in Eastern Europe for some time, with Bulgaria actively participating in the race.
Implementation of the project in Turkey would be politically controversial because of EU concerns over restrictions on freedom of expression and the right to hold demonstrations, according to the EU, under President Recep Tayyip Erdogan. Volkswagen's argument is that Turkey is a candidate country for EU membership, Reuters notes.
A month after Bulgaria receives approval to join the eurozone, all traders are required to display prices in both leva and euros
Veselin Danev, chairman of the Bulgarian Hotel Association, highlighted a major issue in Bulgaria’s tourism sector: a significant decline in the workforce
Nexo, a global leader in digital asset management, has officially declared its return to the US market
The real estate market in Bulgaria maintained stability and activity during the first quarter of 2025, with strong demand despite a moderate drop in transactions compared to late 2024
The International Monetary Fund (IMF) has revised its forecast for Bulgaria’s economic growth, predicting a slowdown to 2.5% in 2025
According to Georgi Duchev, executive director of the Bulgarian Association of Hotel Management Professionals, one-third of Bulgarian hoteliers are planning a modest price increase of about 10%
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