Bulgarians' Incomes Rise Sharply, But Spending Follows Close Behind
According to the latest figures from the National Statistical Institute, household incomes and expenses in Bulgaria continued their upward trajectory in 2024
Bulgaria has formally requested the activation of funds from the European Union’s agricultural reserve due to extensive damage caused by the ongoing drought, announced Acting Minister of Agriculture Georgi Takhov, according to the ministry's press release. The request highlights that the country has also been severely affected by fires in July and August.
Takhov noted that the damage includes the destruction of livestock, bee colonies, hives, animal feed, agricultural machinery, equipment, and homes, emphasizing the need for immediate action.
Additionally, Bulgaria submitted a written request to the European Commission, seeking the activation of a protective mechanism for Bulgarian egg producers due to negative market trends linked to imports from Ukraine.
In addition, due to severe drought and water scarcity affecting crop yields, Bulgarian farmers can now apply for state funding to support irrigation costs. From September 24 to October 31, they can apply for "Aid to support costs of irrigation water for growing agricultural crops," covering 80% of irrigation costs, with a maximum grant of 280,000 euros per farm.
This aid, part of the Ukrainian aid scheme, is available through a 16 million leva budget for the year and aims to help farmers maintain their activities and ensure food security. Farmers must be registered and in good standing with the "Agriculture" fund and have a water supply contract for 2024. Additionally, by November 15, farmers can seek funds for investments in effective water management under the Rural Development Program (RDP) 2014-2020, with a total budget of 97.8 million leva.
This program supports up to 50% of project costs for existing irrigation facilities, excluding new irrigated areas, and requires projects to be completed by September 1, 2025.
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Industrial production in Bulgaria continued to experience a downturn at the start of the year,
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