In 2020, 70,000 Bulgarians, or 1% of the population, owned 18.3% of the gross domestic product, which is equal to more than EUR 11.25 billion. In 2005, they owned 11.2% of the GDP, or EUR 2.4 billion. The wealth of the richest Bulgarians rose five times in the space of 15 years. In 2005, the richest 10% of the population owned 34.6% of the GDP, whereas in 2020, they owned 43.6%.
In 2020, 50% of the poorest Bulgarians owned 19.6% of the country’s GDP. Fifteen years later, they owned only 16.4% of the GDP. The concentration of financial resource in fewer people hampers economic growth and undermines competition, Lyuboslav Kostov, Director of the Institute for Social and Trade Union Research said for “24 Chassa” newspaper.
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
Bilateral relations between Bulgaria and Argentina have received a new impetus for development following the visit of an Argentine delegation from the Chaco province to Bulgaria at the beginning of November . High-ranking officials from the..
Employers are contesting the rise of the minimum wage. The Bulgarian Industrial Capital Association announced that they filed a complaint in the Supreme Administrative Court. About 430,000 people in the country work for minimum wage...
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the..
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