Tag:inflation

Despite calls for urgent adjustments, the National Assembly recently voted to maintain the maximum tax-free monthly voucher amount at 200 BGN (€100), rejecting proposals to raise it to 300 BGN (€150)

This stark finding comes from an analysis by the Institute for Social and Trade Union Research at the Confederation of Independent Trade Unions of Bulgaria (CITUB). The analysis reveals that nearly half of the price increase occurred after the zero VAT exemption was introduced for bread and flour

This move is aimed at bolstering pensioner incomes amidst rising living costs. The Ministry also confirmed that the COVID supplement would remain applicable to newly granted pensions next year, despite calls for its removal

The market price index (ITC), which tracks wholesale food prices in Bulgaria, rose by 0.33 percent, reaching 2,158 points compared to 2,151 points the previous week. The ITC’s base level of 1,000 points was established in 2005

According to the proposed adjustments, consumers can expect a 1.4% average increase in electricity rates, while heating costs are projected to decrease by 8.4% across the nation. These proposals are grounded in the task force's report dated May 31, which incorporated all relevant data up to the end of May.

Ivalyo Mirchev, a member of the Bulgarian National Assembly, outlined the six advantages of Bulgaria joining the Eurozone. Bulgaria is anticipated to join the Eurozone on January 1 2024, making the euro the country's secondary currency after the lev served as the sole legal tender for more than 140 years

Bulgaria planned on joining the Eurogroup of euro area finance ministers in 2024. Still, the Eurogroup has recently rejected the plan because Bulgaria still needs to implement the necessary legislation and has been unable to control inflation

Since October 2022, 13 EU states have seen more inflation than the UK, according to Robert Kimbell, Technical Specialist Client Assets, with Bulgaria coming in sixth