Bulgaria's Draft Budget for 2025: 3% Deficit, State Debt Growth, and Key Tax Changes
The Bulgarian Ministry of Finance has unveiled the draft budget for 2025, alongside the updated medium-term fiscal forecast covering 2025 to 2028
Changes are underway in Bulgaria as amendments to the Law on Consumer Protection aim to tighten regulations in online trade, aligning with directives and regulations from the European Parliament. The European Commission initiated an infringement procedure against Bulgaria due to delays in implementing stricter consumer protection rules, prompting the publication of these amendments for public feedback once again.
Key among the changes is the establishment of a rapid alert system via the "Safety Gate" platform and the "Safety Business Gate" web portal. These platforms enable consumers to subscribe for weekly updates on identified hazardous products, enhancing safety measures across online transactions.
Moreover, the new rules will extend to encompass emerging technologies, including digital services integrated into or interconnected with products. Amendments will also affect legislation concerning digital content, digital services, the sale of goods, consumer credit, real estate loans, distance financial services, and more.
These legislative updates are designed to bolster consumer rights and safety in Bulgaria's evolving digital marketplace, ensuring compliance with European standards and enhancing consumer confidence in online transactions.
Bulgaria may halt the transit of Russian gas to Serbia via the TurkStream pipeline starting in the new year if Gazprom fails to ensure payment compliance with U.S. sanctions against Gazprombank
BETL, a company operating a financial scheme targeting Bulgarian investors, has ceased paying dividends as of December 5, 2024
Bulgaria is expecting a boost in winter tourism this year, with about 3.1 million foreign visitors projected between December and March
Housing affordability in Sofia has improved since the pandemic, making it one of the few capitals in Central and Eastern Europe (CEE) to experience this positive trend
Thousands of Bulgarian consumers who invested in the British company BETL have reported that the company has stopped paying daily dividends and appears to have ceased its operations.
Employers' organizations in Bulgaria are urging the government to extend the compensation program for high electricity prices into 2025.
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