All News on Economics in Bulgaria

Bulgaria's State Debt Rose by BGN 1 B in June

Bulgaria's state debt as of end of June 2014 has reached EUR 8.11 B, shows the monthly state debt bulletin of the Finance Ministry. 

Just within a month (June) it increased by nearly BGN 1 B (EUR 489.2 M). 

The main reason for this was the extraordinary floating of state obligations worth BGN 1.228 to provide liquidity to the country's banking sector. 

EIB to Assist Bulgarian Railway Infrastructure Co in Tariff Formation

The European Investment Bank (EIB) is to provide technical aid to Bulgaria's National Company Railway Infrastructure (NRIC).

The EIB is to cooperate with Bulgaria's NRIC on the formation of a tariff policy for the access and use of the railway infrastructure under the Operational Program "Transport" 2007-2013.

Damage Claims After Heavy Hailstorm in Sofia Worth Over BGN 100M

Damages from the devastating hailstorm that hit Bulgaria's Sofia about 2 weeks ago will cost insurance companies more than BGN 100M.

So far, the big companies only have received damage claims for nearly 50,000 vehicles and the average compensation amounts to BGN 2,000 – BGN 4,000, Nova TV reports.

Bulgaria with Second Lowest Debt-to-GDP Ratio in EU in Q1, 2014

At the end of the first quarter of 2014, Bulgaria's government debt increased by 1.4 percentage points from the last quarter of 2013 and by 2.3 pp from the first quarter of 2013, to 20.3% of the GDP, according to Eurostat.

In the last quarter of 2013 the government debt amounted to 18.9% of the GDP and in the first quarter of 2013 it stood at 18.0% of the GDP.

Tzvetan Vasilev: Policy on CorpBank 'Destroy House to Build Cabin'

The hottest topic in Bulgaria's political and economic life in the last month is the situation at Corporate Commercial Bank. It has generated an entire stream of comments, opinions and positions that poured into the media.

Serbian minimum wage: Under one euro per hour

Serbian minimum wage: Under one euro per hour

BELGRADE -- Serbia's net minimum wage - deducting taxes and contributions for mandatory social insurance - will be RSD 115 per hour from July until December.

The Serbian government made the decision on Friday.

Bulgaria Wins Balkan Prize

Every country aims to lower inflation, unemployment and lending rates, while increasing gross domestic product (GDP) per capita. Through a simple sum of the former three rates, minus year-on-year per capita GDP growth, I constructed a misery index that comprehensively ranks 89 countries based on misery. The table below is a sub-ranking of all Balkan states presented in the full index.

Bulgaria Records Highest Annual Deflation Levels in EU

The annual inflation in the Euro Area was 0.5% in June 2014, stable compared with May, data released by Eurostat,the statistical office of the European Union showed.

Unemployment Rates in Bulgaria Post Slight Decline in June

Unemployment rates in Bulgaria have recorded a slight decrease in June, according to the National Employment Agency.

A total of 10.7% of Bulgarians were unemployed in June which is some 0.5 percent less than the levels recorded in May.

In June, the unemployment rates marked the most dramatic decline since 2004 - some 16,000 fewer unemployed.

Investments In Gold, Precious Metals Increase – Brokers

There is a sharp increase in investments in gold and other precious in Bulgaria, shows a survey of the Bulgarian National Radio among brokers. 

According to them, this was a new trend for the country and they still cannot explain the reasons for the new interest in precious metals. 

Some 20% of Cigarettes in Bulgaria Contraband

Every fifth cigarette in Bulgaria is illegal, according to a survey on the illicit cigarette market commissioned by world concerns.

Bulgaria's budget records losses of nearly BGN 0.5B annually only due to the unpaid excise duty on tobacco products, private TV station BTV reports.

Number of Unemployed Bulgarians Drops Below 400 Thousand – Eurostat

In May, the unemployment rate in Bulgaria preserved its level from April and was 11.9%, but decreased by 1.1% compared to May 2013, according to Eurostat.

A total 399,000 Bulgarians were unemployed in May 2014 compared to 402,000 in April and to 439,000 a year ago, the latest data of the European Statistical Office shows.

EUObserver: Bulgaria Jittery After Bank Run 'Plot'

The article is from EUObserver

Bulgaria, already grappling with a severe political crisis, is now trying to deal with what the government has called an organised attempt to destabilise its financial system.

Bulgaria's Pension Levels Increase Slightly

The Supervisory Board of Bulgaria's National Social Security Institute will introduce a 2.7% increase to pensions granted by December 31, 2013 as of July 1, 2014.