Bulgaria Advances Eurozone Integration with Instant Payment System
The process of introducing the euro in Bulgaria is advancing, with the implementation of the Eurosystem’s TIPS (Target Instant Payment Settlement) service playing a central role
The construction of BGN 40 million production plant for aluminum profiles, the largest on the Balkans, has started in Trakia Economic Zone. Minister of Economy Lachezar Borisov presented a Class A investment certificate to Zdravko Linkin, chairman of the board of directors of Interlink Group AD. This happened on 31 March at the turning of the first sod of a high-tech plant for aluminum profiles in Maritsa Industrial Zone, which is part of Trakia Economic Zone.
The investment amounts to BGN 39,705,000. The total area of the plot is 200,000 sq m and the first plant of 22,500 sq m will be built on part of it by the summer of next year. Initially it will have an annual capacity of 10,000 tons of aluminum profiles.
The investment project is implemented by Interlink Group, and the production will be carried out by its subsidiary Profilink Ltd.
According to the plan, three more production and storage halls are to be built next to the first plant in the next five to ten years. In terms of its parameters, Profilink's enterprise is set to become the largest on the Balkans in this sector.
“The plant will be smart, with a high degree of automation. New jobs for 150 people will be opened. Our goal is to compete with globally recognised manufacturers of this type of window systems. And also to get ahead of them. Currently, Profilink is in the top 10 of European manufacturers of PVC profiles,” Zdravko Linkin told reporters.
“In the last four years, certified investors have created over 1,000 new jobs and have invested half a billion BGN on the territory of Plovdiv region,” pointed Minister Lachezar Borisov.
“For this year, three more large investments are planned on the territory of Maritsa Industrial Zone at a total value of about BGN 100 million,” stated Plamen Panchev, founder and executive director of Trakia Economic Zone.
President Rumen Radev emphasized the stability of the Bulgarian National Bank (BNB), describing it as one of the most secure financial institutions in Europe
Preliminary data from Bulgaria’s Ministry of Finance indicates a slight reduction in the budget deficit for November compared to October
Mass layoffs have resurfaced in Bulgaria's labor market, with nearly 10,000 workers affected in the past two years
Bulgaria's banking system is on track to surpass three billion leva in profits again this year, following the record-breaking 3.4 billion leva reported in 2023
In 2023, the average gross annual salary in Bulgaria reached 24,485 leva, marking a 15.3% increase compared to the previous year
In October, Bulgarians predominantly traveled to neighboring Turkey and Greece, while the largest groups of foreign visitors to Bulgaria came from Romania and Turkey
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023