Foreign Interest Surges in Bulgarian Property Market, Especially in Resorts
Real estate agents have reported a surge in property purchases by foreigners in Bulgaria's resorts and major cities like Sofia, Plovdiv, Varna, and Burgas
The Treasury is already at deficit of BGN 183 million, according to the projection data for November provided by the Bulgarian Ministry of Finance. In October, the surplus in the Treasury was over BGN 654 million.
The monthly deficit in the Treasury is no surprise, but for the first time this year there is also a deficit on a consolidated basis.
The total surplus from October and the projected deficit in November exceed BGN 800 million under conditions when treasury spending is more than revenues.
The tax revenues at the end of October are less than BGN 30 billion, and only from VAT (one of the main revenue sources in the Treasury), it is a little over BGN 9 billion.
A number of goods and services, mainly in the field of the restaurant industry, will pay a lower VAT during the year and instead of 20% they are levied with 9% indirect tax.
As of today, another tax relief comes into force, namely for home food deliveries.
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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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