Rising Wages Prompt Production Shifts from Bulgaria to Cheaper Destinations
Due to recent increases in wages, several productions are relocating to more cost-effective destinations
A Eurostat survey reveals that Greeks face significant challenges in affording housing, with over 26% struggling or unable to meet the high rental costs. Greece is ranked last in Europe for the wage-to-rent ratio.
The difficulties are intensified by low wages, ongoing economic hardships, and the rising cost of essentials and housing. According to Eurostat, 40-50% of an average household's income is spent on housing expenses.
Families with children and retirees are particularly affected by these conditions. Students have also demonstrated against the shortage of dormitory spaces, with some choosing to discontinue their studies due to a lack of affordable accommodation options.
In response, the Greek government introduced a program offering interest-free loans to owners of unused residential properties to help address the housing crisis.
Romanian President Klaus Iohannis has accused nationalist candidate Calin Georgescu
Romania’s Constitutional Court has annulled the recent presidential election, a decision made amidst growing concerns of foreign interference and manipulation
Calin Georgescu, the unexpected frontrunner in Romania's presidential elections, has pledged to halt all support for Ukraine if he secures victory
In a video address from Brussels, North Macedonia's Prime Minister, Hristijan Mickoski, reaffirmed his country's commitment to EU membership, highlighting the government's focus on implementing reforms and improving living standards for its citizens
Turkish media outlets have reacted strongly to the anticipated accession of Bulgaria and Romania to the Schengen Area
Russian ultranationalist ideologue Aleksandr Dugin, often referred to as "Putin's ideologue," caused controversy with a statement on the social media platform "X" claiming that "soon Romania will be part of Russia"
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023