Bulgaria Faces Critical Defense Shortages, Calls for Urgent Legislative Action
Bulgaria is grappling with significant challenges in its defense sector, as revealed in the 2023 Defense Status Report
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The Chinese yuan officially joined the USD, the Euro, the Japanese Yen and the British Pound Sterling as a global reserve currency.
This is an extremely important moment for Beijing in securing greater influence on the international stage, reported Reuters.
The yuan is being included in the basket of IMF reserve currencies on the day China celebrates the creation of the Chinese People’s Republic in 1949.
This step is not expected to affect global markets since it was announced last year, but it will place the not-so-transparent economic and financial policy of Beijing in the international spotlight because central banks will add assets in yuans to their official reserves.
China surprised global markets by devaluing its currency last year. As of then, the exchange rate of the yuan decreased to a near 6-year minimum which is another reason to worry considering weak global growth as it is.
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In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
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