Bulgarian Chamber of Commerce

In the next 20 years, nearly half of Bulgaria's workforce is expected to be over the age of 55, reflecting a significant aging trend in the country. A study by the Bulgarian Chamber of Commerce (BCC) reveals that if this trend continues, the proportion of older workers could reach 48 percent, with two-thirds of the employed population representing older generations.

In a discussion on Nova TV, Veselin Nalbantov, vice-president of the Bulgarian Hotel and Restaurant Association, along with Todor Kapitanov, vice-president of the Confederation of Independent Trade Unions of Bulgaria (CITUB), and Tomcho Tomov, an expert at the Bulgarian Chamber of Commerce (BCC), tackled the issue of the labor force in Bulgaria.

Bulgaria and Turkey stand out with the lowest average annual net incomes in Europe, amounting to 9,355 euros and 8,968 euros respectively, according to data from Eurostat. This stark contrast underscores the significant wage disparities across the continent, influencing employment dynamics and economic decisions.

The Bulgarian Ministry of Finance projects that Bulgaria will satisfy the inflation criterion by the year's end, as per the ministry's models. Deputy Minister of Finance Metodi Metodiev highlighted this during the "Introduction of the Euro - Risks and Challenges: The Experience of Croatia" conference.

The Bulgarian Chamber of Commerce and Industry (BCIP) is exploring the option of importing labor from India to address the shortage of skilled workers in various sectors of the country's economy. In collaboration with the Indian-Bulgarian Business Chamber, discussions will be held to explore the feasibility of this initiative.

Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025. Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), disclosed to BTA that a more plausible scenario for Bulgaria's integration into the Eurozone would be later in 2025.

The Confederation of Independent Trade Unions of Bulgaria (CITUB) is set to unveil a comprehensive report highlighting workplace rights violations, with a notable focus on gender disparities, particularly affecting women. In response, CITUB is proposing a directive aimed at eliminating salary secrecy in the workplace, advocating for greater transparency and equity.

The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), together with the Bulgarian-Ukrainian Chamber of Industry and the support of the Bulgarian Chamber of Commerce and Industry, organize a Bulgarian-Ukrainian business forum with bilateral meetings, which will be held on April 25, 2024 in "Vasil Levski" hall of the "Hyatt Regency Sofia" hotel in Sofia.

The Austrian Chamber of Commerce, serving as the overseas business representative, has greeted the partial Schengen agreement positively, hailing it as a promising development. Philip Kupfer, the trade advisor at the Austrian embassy, expressed enthusiasm for the move, highlighting the significance of meeting pertinent conditions for a robust domestic market within Europe.

A forthcoming business delegation from India specializing in high technologies and innovation is scheduled to tour Bulgaria and Romania in mid-March 2024, as reported by the Bulgarian Chamber of Commerce and Industry (BCCI).