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
Simeon Dyankov, a former finance minister, expressed that the Bulgarian economy is performing reasonably well, although discussions regarding the macro framework for 2025 are currently stalled due to the absence of a functioning parliament and government. He noted that finance minister Ludmila Petkova has called on politicians to outline necessary budget measures and determine the deficit. According to Dyankov, Bulgaria has not seen a deficit of this nature in 25 years, and he does not anticipate significant parliamentary debate on the issue.
Dyankov criticized the campaign promises made by politicians, pointing out that 8 billion leva is the outstanding capital expenditure, yet only 4 billion leva of those commitments have been realized. He warned that a 3% deficit poses serious risks and emphasized the importance of discussing progressive taxation, which requires a stable government. While he reassured that Bulgaria is not on the verge of a Greek-style economic crisis, he acknowledged the need for scrutiny over government spending.
He stated that Bulgaria is far from meeting the criteria for Eurozone membership, specifically the inflation threshold, and warned that a 3% deficit could lead to the country being excluded from the Eurozone. He believes that societal readiness for the euro is crucial, and he suspects that politicians may be hesitant about entering the Eurozone. Furthermore, Dyankov commented on the discomfort some politicians feel regarding the conditions tied to the Recovery and Sustainability Plan, predicting that Bulgaria will take out at least two more loans by the end of this year and three additional loans next year.
In Krivodol, a municipality in Northwestern Bulgaria, local authorities are taking steps toward the eurozone transition well ahead of the February 20 deadline
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
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability