Association of Industrial Capital

As Bulgaria grapples with economic challenges, economists highlight the country's lagging position in the European Union, particularly in terms of purchasing power. According to recent Eurostat data, Bulgaria ranks last in the EU, a concerning indication of its economic standing.

Bulgarian employers, represented by major organizations including the Confederation of Employers (KRIB), the Chamber of Commerce (BCC), the Chamber of Commerce and Industry (CCI), and the Association of Industrial Capital (AIC), have outlined their business priorities for the year, emphasizing the need for significant reforms in the country.

President Rumen Radev described as shocking the price of natural gas for September after returning from an official visit to the UAE. Yesterday, the Commission for Energy and Water Regulation (EWRC) decided that it would rise the price by nearly 19% compared to August and make it BGN 353.21/Mwh.

"Additional measures are needed to limit the damage to the Bulgarian economy from high electricity prices. The price on the free market is already a record - BGN 482 per megawatt hour,"said in"This Morning"Vasil Velev, Chairman of the Board of the Association of Industrial Capital (BAIC).

The gray economy sector in Bulgaria is shrinking.

This was reported by the Association of Industrial Capital on 12th of June, quoted by BNT.  The main reasons for improving the environment are better tax collection, higher exports and lack of political tension. Still, almost a third of the business continues to work in the gray sector.

The minimum wage in Bulgaria will increase by BGN 16 starting July 1 and will thus slightly surpass the country's estimated poverty line.

Upon all taxes and insurances are paid, the current minimum wage reaches BGN 282. Starting July 1, the amount will increase to BGN 298, as stated in the report presented by Labor Minister Ivaylo Kalfin.