Grey economy accounts for 1/5 of Bulgaria's GDP, according to a study by the Bulgarian Industrial Capital Association and the National Centre "Economy in the Clear".
Still, since 2010, the share of the regulated economy has increased by 15%, from 63.35% to 78.40%. Despite this positive trend, the informal sector in Bulgaria has a higher rate than in any other EU country.
"We have seen a significant improvement - the number of employment contracts where employees are insured on minimum wage while in reality they receive more, has decreased, , says the author of the study Stefan Petranov. The sectors most affected by the informal economy are services, hotels, restaurants, construction and agriculture.
Bulgaria’s industry is being transformed in the direction of high added value productions, reads an analysis by the Institute for Market Economics. This tendency is best manifested in computer science, electronics and optics which account for the..
Acceleration of inflation to 1.1% in October compared to the previous month was registered by the National Statistical Institute. On an annual basis, the index is 1.8 percent. In October, the prices of goods and services for..
A working group comprising representatives of employers, trade unions and government experts is discussing the proposals of the Ministry of Labor and Social Policy for introducing a new mechanism to determine the minimum wage. This is happening a day..
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