All News on Economics in Bulgaria

Experts Warn about Property Bubble Risk in Eastern Bulgaria

Major players in the construction industry have cautioned about a bubble risk on the real estate market and in the construction sector in eastern Bulgaria in the next few years.

Bubble fears are explained with the fact that the demand for vacation properties, mostly by Russian-speaking citizens, is concentrated there, according to reports of

IMF: Deflation and High Unemployment in Bulgaria in 2014

Consumer prices in Bulgaria will drop by 0.4% in 2014, which means there will be deflation, said the IMF in its spring World economic outlook. 

The Fund has increased its forecast for Bulgaria's GDP by 0.1%, to 1.6%. The expectations for the unemployment, however, remain pessimistic. It is expected that by the end of the year it will be 12.5%. 

Privatization in sport "inevitable" - minister

Privatization in sport "inevitable" - minister

SOFIA -- Vanja Udovičić said on Tuesday that privatization in sport was "inevitable" and that the issue will be raised after the new government is formed.

Contactless Payments On The Rise in Europe

The European consumers made more than 340 million contacltess payments in 2013, shows the data of Visa Europe. 

The sum spent via contactless payments increased threefold and reached EUR 453 M. 

The growth is explained with the increasing popularity of such type of payments.

Bulgaria's Government to Take A Loan

Bulgaria's Government approved the preparations for issuing state bonds at the international stock market, said the Government press office. 

The Government authorized Finance Minister Petar Chobanov to negotiate with the selected managing banks and the legal consultants, as well as to sign on behalf of the state all necessary documents. 

Social Insurance in Bulgaria Won't Be Raised

The social insurance for pension plans and unemployment is impossible at this stage, said Bulgaria's Minister of Labour and Social Policies Hasan Ademov.

The proposal for one percent increase in the sums deducted for pensions and unemployment benefits was made by one of Bulgaria's major trade unions, KNSB, last week. 

Consumer Loan Act Changes Pass 1st Reading in Bulgaria's Parliament

A set of amendments to the Consumer Loan Act passed first reading in Bulgaria's Parliament.

The legal changes, put forth by Yordan Tsonev, MP from liberal party Movement for Rights and Freedoms (DPS) and Rumen Gechev, MP from the Bulgarian Socialist Party (BSP), were approved with 99 votes in favor, 4 votes against and 7 abstentions, according to reports of