The direct losses for Bulgaria from the delayed full accession to the Schengen Area amount to EUR 424 million, caretaker Minister of Economy Petko Nikolov said. He quoted a report by the Economic Research Institute at the Bulgarian Academy of Sciences, commissioned by the Ministry of Economy.
At a discussion in Sofia on the priorities of the Hungarian presidency of the Council of the European Union and their repercussions on the Bulgarian political agenda, Minister Nikolov pointed out that the direct losses should be added to the lost profits of around EUR 275 million. Thus, the potential benefits from removing land border controls exceed EUR 680 million annually. Additionally, the accession to Schengen by land will reduce carbon emissions from traffic. "Transport connectivity will improve, trade and investment flows will increase and travel time and costs will decrease", summarized Minister Nikolov.
“The divergence between the monetary and the fiscal policy pursued by the government continues to be the main reason why Bulgaria does not meet all criteria yet for entering the Eurozone,” Lyubomir Karimansky, member of the Governing Council of the..
Germany remains Bulgaria's strongest economic partner. Trade between the two countries for 2024 amounts to EUR 12 billion, said Tim Kurth, President of the German-Bulgarian Chamber of Industry and Commerce. At a ceremony held at the University of..
Bulgaria can meet the convergence criterion for price stability, needed for entering the Eurozone, in January 2025 and continue to meet it throughout the rest of the year, the Bulgarian National Bank (BNB) states in its macroeconomic outlook,..
The real estate market in Bulgaria has steadily been growing in the past few years. There has been talk of a price bubble, inflated to serious..
Overcast, rain
Partly cloudy, chance of rain
Mostly Cloudy
sunshine, cloud, rain and thunder