Winter Tourism: 1.8 Million Visit Bulgaria
Bulgaria has witnessed a bustling winter tourism season, with a total of 1.8 million tourists gracing its picturesque landscapes from December 1 to March 25
The political and economic changes that followed the fall of communism in Central and Eastern Europe more than two decades ago have stalled and incomes in the region may never match those in Western Europe, the European Bank for Reconstruction and Development said Wednesday.
In its most sobering assessment ever, the EBRD said that while five years of "substandard" growth since 2008 largely reflects the impact of the financial crisis and the euro-zone crisis that followed, the weakness of the region's long-term growth prospects is much-more deeply rooted.
The development bank said that while most of the economic measures that are needed to boost growth are easy to identify, inadequate political institutions and strong vested interests have prevented their adoption.
In its section on Bulgaria EBRD forecast weak growht in the short term.
“The outlook is constrained by developments in the eurozone, given the close trade, financial and investment links. Economic growth this year is expected to be positive, but slightly lower than in 2012 because of weak internal demand.“
However, Bulgaria’s medium-term growth potential remains good: GDP per capita (adjusted for purchasing power standards) is estimated by Eurostat to be less than half of the EU average, so the scope for convergence is still quite high, provided that structural reforms are pursued, EBRD said.
FULL text of the section on Bulgaria READ HERE
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The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Bulgaria has witnessed a bustling winter tourism season, with a total of 1.8 million tourists gracing its picturesque landscapes from December 1 to March 25
Trade relations between Bulgaria and Ukraine have reached unprecedented heights, with bilateral trade hitting a record 3 billion USD in 2022, according to statements made during the recent Bulgarian-Ukrainian business forum
As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
FlixBus, the renowned European bus company, is set to launch new routes to and from Bulgaria in anticipation of the summer season
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Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022