There has been a significant decline in production and sales, reads the annual survey of the Bulgarian Industrial Association regarding the business climate in 2023. The least affected are salaries, which in 2023 increase in 71% of the companies.
The numerous crises that have accumulated over the past 2-3 years have inevitably had an impact on the companies’ indicators, all of which marked drastic declines as compared to the pre-crisis 2019. Production and sales volumes, as well as foreign markets, are decreasing. Nevertheless, incomes are growing, the business says. 85% of respondents said they had offset inflation in their employees' incomes. 65% of them increased wages, 12% gave an annual bonus, 7% gave a quarterly bonus and 16% increased the amount given in the form of food vouchers.
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate was 3.78%. Bulgaria is in a currency board and the Bulgarian lev is pegged to the euro. Therefore,..
Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet the..
Bulgaria will receive €65.2 million from the EU for a project to reinforce the electricity grid to better support the integration of renewable energy, the European Commission said in a statement. The money is part of a total of nearly €3 billion..
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