Rising Prices Hit Seaside Restaurants in Bulgaria This Summer
Prices in seaside restaurants across Bulgaria are rising this year, with a noticeable hike in some popular beachside dishes
The average salary registered over 10 percent growth year-on- year.On the other hand, the share of remuneration from work in the overall household budgets has shrunk, while the share of incomes from pensions and social benefits has grown.
Despite the reported growth of the average salary up to BGN 1,500, this does not apply to all sectors of the economy. Traditionally, the highest incomes are in the information and communication technologies and in the health sphere - due to the additional payments to the frontline medics.
The sectors requiring higher skills continue to push forward. At the same time we see the effect of stagnating sectors, such as hospitality and restaurant businesses which were hit the hardest by the coronavirus crisis and the salaries in these sectors are the lowest, commented Zornitsa Slavova from the Institute of Market Economics.
The salary is still the largest contribution to a household budget but its share in the overall income is shrinking. For the first time the share of a salary in the households’ earnings reached 55 percent due to the impact of the crisis. At the same time the share of social benefits and aid as well as pensions is growing,” Zornitsa Slavova added.
Inflation in Bulgaria is projected to rise ahead of the country’s euro adoption
The Bulgarian National Bank (BNB) has announced that it will stop publishing the key interest rate following the country's adoption of the euro
Iliya Lingorski, a member of the Bulgarian National Bank's (BNB) Governing Board, highlighted the significant logistical challenges of adopting the euro in Bulgaria
The Bulgarian National Bank (BNB) has clarified the procedural changes that will take effect with the adoption of the euro as Bulgaria’s official currency.
During the one-month transition period after Bulgaria adopts the euro, ATMs across the country will distribute only euro banknotes
The World Bank has revised down its forecast for Bulgaria’s economic growth in 2025, citing a broader global economic slowdown
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