Bulgaria’s Employment Strategy Struggles to Shift Focus from Temporary Subsidies to Long-Term Skills
Bulgaria’s Ministry of Labor and Social Policy released its National Employment Action Plan (NAP) for 2025 in early May,
Bulgaria has fulfilled the final requirement for joining the eurozone by meeting the budget deficit criterion. Following the earlier achievement of the inflation target, the last step was to confirm compliance with the EU methodology regarding public finances for 2024.
According to preliminary data from Bulgaria’s National Statistical Institute and Eurostat, the country's general government sector registered a budget deficit of 3 billion euros last year. This figure corresponds to exactly 3% of the national GDP, aligning with the EU's threshold and satisfying the deficit condition for eurozone accession.
For comparison, Eurostat reported that the average budget deficit across the European Union in 2024 stood at 3.2% of GDP. Among the member states, Romania recorded the highest deficit at 9.3%, followed by Poland with 6.6%, and France at 5.8%.
In contrast, several countries achieved budget surpluses. Denmark posted the highest surplus at 4.5% of GDP, while Ireland and Cyprus followed closely with surpluses of 4.3% each. Greece also reported a positive fiscal balance, with a surplus of 1.3%.
If traders attempt to unjustifiably raise prices during the transition to the euro, the National Revenue Agency (NRA) will detect it through discrepancies in VAT declarations
In recent weeks, Bulgaria has seen a noticeable uptick in demand for euro banknotes
The adoption of the euro in Bulgaria is not expected to cause fast loans to become more expensive
Although converting leva into euros may appear straightforward - just divide by the fixed rate of 1.95583 - reality brings far more complexity
The Bulgarian National Bank will stay the course with its conservative and stability-oriented monetary policy even after the country enters the eurozone
The demand for euros in Bulgaria has surged by about 50%
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe