Nikulden: Bulgaria’s Beloved Saint Nicholas Day
In Bulgaria, December 6 is celebrated as Saint Nicholas Day, or Nikulden (Никулден), a holiday that blends religious devotion, folk tradition, and social celebration
The "Podkrepa" Confederation of Labor has voiced strong opposition to the Bulgarian government’s plans to relax rules on hiring workers from third countries. A key proposal under discussion is to increase the quota for foreign employees in Bulgarian companies.
These measures were outlined by Deputy Prime Minister Grozdan Karadjov during a debate hosted by the National Tourism Board and the Bulgarian Industrial Chamber, focusing on improving access to foreign labor.
Atanas Katsarchev, chief economist at the Podkrepa Confederation of Enterprises, expressed serious concerns on Bulgarian National Radio. He pointed out that the government’s suggestion to allow up to 50 percent of a company’s workforce to be foreign employees lacks a clear analytical basis. According to Katsarchev, the initial working groups began discussions only at the end of 2023, leaving unclear how the 50 percent figure was determined.
The "Podkrepa" Confederation does not support this measure, warning it could jeopardize the domestic labor market and potentially increase unemployment among Bulgarian workers.
Currently, the law limits the share of third-country workers to 20 percent of a company’s average staff, with a higher threshold of 35 percent for small and medium-sized enterprises. This is already a considerable increase from earlier rules, which capped foreign employment at just 10 percent.
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Financial expert Max Baklayan has warned that the main risk in Bulgaria’s transition to the euro is not the exchange rate, but the increased likelihood of counterfeit currency
On the occasion of International Migrants’ Day on December 18, migrant business owners in Sofia released a Manifesto of Foreign Entrepreneurs in Bulgaria
The Governing Council of the Bulgarian National Bank (BNB) has granted preliminary approval to Bulgarian-American Credit Bank AD (BACB) to acquire a controlling stake in Tokuda Bank EAD
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