Bulgaria's Tourism Shifts Toward Experience-Focused Stays as Demand Grows
Tourism in Bulgaria is increasingly shifting from traditional hotel stays to more experience-focused offerings
Bulgaria remains committed to joining the Eurozone as swiftly as possible, with technical preparations progressing well. This was emphasized by Deputy Prime Minister and Finance Minister Lyudmila Petkova during the July meeting of the Economic and Financial Affairs Council in Brussels, according to the Bulgarian ministry's announcement.
Petkova indicated that once Bulgaria fulfills the final criterion related to price stability, the country plans to request expedited convergence reports from European institutions.
Receiving a prompt evaluation of Bulgaria's readiness and a definitive timeline for accession is crucial, Petkova added. This will provide essential predictability for both businesses and the public, allowing adequate time to finalize the necessary steps in the process.
In June, Bulgaria's annual inflation rose to 2.5% from 2.3% in May, according to the National Statistical Institute, despite a monthly deflation of 0.2%. Minimal price increases were noted in health services and entertainment, while significant rises over two percent occurred in restaurants and accommodations.
Most categories, including food and clothing, experienced price declines. Year-to-date inflation is at 0.2%, and the average annual rate from July 2023 to June 2024 decreased to 4.6%. The Harmonized Index of Consumer Prices reported monthly inflation of 0.2% and annual inflation of 2.8% for June. Meanwhile, May saw two consecutive months of deflation for the first time since 2020, with an annual inflation drop to 2.3%.
Boyko Borissov, leader of GERB, defended the government’s progress on Bulgaria’s path to the eurozone
Bulgaria could adopt the euro as its official currency from January 1, 2026, if it successfully meets the necessary criteria for joining the eurozone
The municipal councils in Kozloduy and Krivodol have become the first in Bulgaria to implement dual pricing for municipal services, taxes, and fees
Bulgaria’s draft budget for 2024 raises questions about its realism and whether it is a mere strategy to appease the European Commission and the European Central Bank
Parvomay Municipality in Bulgaria has become one of the first to prepare for the country’s euro adoption
Professor Steve Hanke, who established Bulgaria’s currency board, emphasized that the country should maintain the current system, as it continues to work effectively
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