Retail trade stands as the second largest employer in Bulgaria, ranking among the top three sectors with the highest number of job vacancies currently available. According to national statistics, the sector contributed 8% to the gross domestic product last year, and its companies are significant contributors to the country’s tax revenues.

These insights were shared by Nikolay Valkanov, the executive director of the Association for Modern Trade, during an international forum held in Sofia. Valkanov emphasized the urgent need for state support in various areas, outlining key requirements for the sector’s sustainability.

He highlighted the necessity of a flexible labor market that can accommodate workers from third countries while addressing the misuse of social systems prevalent in other European nations. Valkanov warned that Bulgaria is currently experiencing a severe labor shortage, a situation that is expected to worsen in the coming years. He cautioned that without implementing these necessary measures, businesses may struggle to maintain growth and could face significant challenges.