Projections Show 9.3% Salary Rise for Bulgarian Workers in 2024
The Ministry of Finance anticipates a 9.3% increase in wages for Bulgarian businesses this year, as outlined in the latest Convergent Program of Bulgaria
Basic food is expected to rise by another 7% by the end of the year. This is predicted by the chairman of the State Commission on Commodity Exchanges and Markets Vladimir Ivanov. However, despite the high prices of electricity and natural gas, there will be no sharp jump. The reasons are the competitive market and shrinking consumption.
After peaks in food prices in August and September since the beginning of October, the market has stabilized and consumption has shrunk.
The prices of sugar, flour, legumes and meat remain the same, says Ivanov.
"In general, only the sunflower oil from the main food products has a sharp change - 36% compared to last year's levels. But I would like to say that this is much lower than the levels that were in July. There was a 53% difference compared to last year. In general, the harvest is very good in sunflower oil. At the moment, a downward trend is expected, it does not happen as a result of the created price panic," he added.
Due to higher electricity and gas prices, a slight increase is expected in the products of the processing industry by the end of the year.
"In any case, there will be some increase in bread. There may be a percentage for dairy products. They are still holding on and fighting people. The same will happen with meat producers. We have a growth rate - between 5 and 7 percent, or as a consumer basket, if we buy one of these 27 basic food products per unit compared to last year, the consumer basket is BGN 7 more expensive," said Vladimir Ivanov.
/BNR
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
A recent national survey conducted by the Market Links agency reveals that nearly half of Bulgarians, constituting 47% of respondents, hold reservations regarding the anticipated benefits of Bulgaria's adoption of the euro
Bulgaria's aspirations to become the 21st member of the Eurozone have sparked discussions regarding the country's economic readiness, as well as its political and institutional preparedness
The European Central Bank (ECB) has weighed in on Bulgaria's draft Law on the adoption of the euro, signaling the need for revisions to ensure alignment with European regulations
A wave of misinformation regarding Croatia's inflation rates has sparked concerns about the potential consequences of adopting the euro in Bulgaria
Artificial intelligence is changing the world’s economic and political landscapes, pushing every country to increase their AI investments.
As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU