Bulgaria's Hotel Sector Faces Workforce Shortages and High Taxes Ahead of 2025 Season
Veselin Danev, chairman of the Bulgarian Hotel Association, highlighted a major issue in Bulgaria’s tourism sector: a significant decline in the workforce
Marking the inaugural decision of Bulgaria's new caretaker government, the Customs Agency welcomes a new director, as announced by acting Finance Minister Lyudmila Petkova. Georgi Dimov, former executive director of the National Revenue Agency (NRA), steps into the role, succeeding Petya Bankova.
Minister Petkova underscored Dimov's leadership qualities and emphasized his mandate to leverage his experience from the NRA to enhance revenue collection within the Customs Agency.
Meanwhile, Rumen Spetsov retains his position as the head of the National Revenue Agency amidst the organizational reshuffle.
The appointment comes in the wake of Bankova's arrest on charges related to participation in an organized criminal group, including allegations of influence peddling, smuggling, and bribery. While details surrounding the scandal remain scant, Minister Petkova and her predecessor Asen Vassilev refrained from commenting extensively on the matter during the transition of power ceremony at the Ministry of Finance.
Former Finance Minister Vassilev commended the revenue agencies for their performance, citing a notable increase in revenue collection compared to the previous year. According to the latest figures shared by Vassilev, the National Revenue Agency witnessed nearly a 15% rise in revenue collection, while the Customs Agency experienced a slight decline of approximately 7%, attributed mainly to factors such as VAT on oil imports and reduced operations at Lukoil.
Reshuffling of leadership positions within revenue agencies is customary following changes in the government, whether official or interim.
Macroeconomist Stoyan Panchev, an analyst from the Expert Club for Economics and Politics, warned that Bulgaria could face significant challenges if it rushes into joining the eurozone
Bulgarian Posts will carry out the exchange of levs into euros in 2,230 post office locations across the country
Bulgaria has fulfilled the final requirement for joining the eurozone by meeting the budget deficit criterion
On June 4, Bulgaria will find out whether the euro will officially replace the lev in January 2026
In the first quarter of 2025, the 20-BGN banknote has overtaken the 100-BGN note as the most frequently counterfeited denomination in Bulgaria,
According to recent data from the Trend Research Center, shared during the "Personal Finance" event by Money.bg, 38% of Bulgarians are unable to set aside any savings
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase