Bulgaria’s Real Estate Market and the Euro: What to Expect After Adoption
The question of how Bulgaria’s adoption of the euro will influence the real estate market has sparked considerable interest among property owners
Farmers across Europe, including those in Bulgaria, are expressing dissatisfaction with the Green Deal, viewing it as a failure. Kostadin Kostadinov, chairman of the Bulgarian Agrarian Chamber, shared these sentiments during an interview on Bloomberg TV Bulgaria, asserting that the initiative has compelled farmers to adopt practices that clash with local climate and soil conditions. He described the Green Deal as a setback for the EU, attributing it to rising production costs, reduced yields, and a wave of bankruptcies among agricultural producers.
Kostadinov emphasized that proper legislative and state measures could positively impact agriculture, provided they are effectively implemented. He noted the numerous administrative hurdles currently faced by producers, advocating for their reduction to facilitate agricultural operations. This year, he pointed out, farmers have contended with challenges such as climate change, market pressures due to the ongoing war in Ukraine, and the influx of food imports from third countries. He mentioned that the first tranche of financial aid designated for Ukrainian farmers has already been disbursed, with a second expected by the end of November.
The agrarian expert highlighted the critical state of support for producers in Europe, as the European Commission is contemplating changes that could pose difficulties for farmers. He also noted that widespread drought and wildfires have severely impacted production, leading to significant declines in yield and rising costs. Currently, Bulgaria's agricultural output is approximately 80% harvested, with wheat yields varying across regions. However, the situation for sunflower and corn yields is dire, with substantial drops reported, according to Kostadinov.
Until July 14, Bulgaria’s Ministry of Agriculture is accepting proposals from farmers, processors, and traders on a new draft law aimed at regulating the supply chain
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In the span of just three years, Bulgaria's grain producers have seen their access to European markets completely disappear
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