Bulgarian Chamber of Commerce

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).

A memorandum of collaboration was signed recently in the Greek capital by the Athens Chamber of Commerce and Industry (EBEA) and the Bulgarian Chamber of Commerce and Industry (BCCI). 

Is it possible to introduce the euro in parallel to the lev? According to Bulgarian businesses, the best option is the fastest adoption of the European currency, rather than its prolonged parallel use.

Bulgarian exports continue to grow and in 2022 reached 50.25 billion dollars, or 21% more than in 2021, when it was 41.9 billion dollars. This is stated in an analysis of the Bulgarian Chamber of Commerce.

Bulgaria climbed to 57th place in the world in terms of exports from 59th place a year earlier. In the EU, the country retains 20th place - both for 2021 and 2022.

Hourly labor costs in the EU increased by an average of 3.4% per year, according to Eurostat data for the third quarter of 2022. Against this slight average increase, Bulgaria stands out with a record jump of over 16%. The largest increase was in the mining industry - 14.2%.

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.