65.3% of Bulgarian Workers Earn Below Subsistence Level
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Sweden’s government will start exploring the feasibility of having the country move to a digital currency, marking another step into the unknown for the world’s most cashless society.
Per Bolund, financial markets minister, said a review launched on Friday is expected to be completed by the end of November in 2022. Anna Kinberg Batra, a former chairwoman of the Riksbank’s finance committee, will lead the inquiry.
Sweden is among the first countries in the world to consider introducing a digital currency. Its central bank is already running a pilot project with Accenture Plc to introduce an electronic krona based on the same blockchain technology that underpins digital currencies like Bitcoin.
Governor Stefan Ingves said in October that any decision on whether to issue an e-krona needs to be taken at the political level.
From the point of view of the government, Bolund said that “it’s crucial that the digitalized payments market functions safely, and that it’s available to everybody.”
“Depending on how a digital currency is designed and which technologies are used, it can have large consequences for the entire financial system,” he said.
The Riksbank estimated in October that Sweden’s cash usage dropped to its lowest level ever, as the pandemic accelerates the shift away from bank notes and coins. Less than 10% of all payments are made with cash in Sweden, according to the bank’s research.
The Bank for International Settlements estimated back in 2018 that Sweden is the world’s most cashless society, measured as usage as a percentage of gross domestic product./Bloomberg
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022