26 May is tax freedom day for Bulgarians this year. The Institute for Market Economics has estimated that this year, we have to work 146 for the state to provide the money for the treasury. The state budget envisages revenues of over 57 billion Leva (EUR 29 billion) for the year.
In the space of one day, Bulgaria produces 392 million Leva. (EUR 200 million) of the projected GDP amounting to 143 billion Leva (EUR 73 billion). It takes 146 days to fill the treasury – this is the formula used to calculate when tax freedom day will come.
58 days are needed to cover direct taxes and social security contributions, and another 54 days for indirect taxes. A deficit of 5.9 billion Leva (EUR 3 billion) has been budgeted for in 2022, or 4.1% of the GDP, a sum that equals another 15 days.
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..
The assets of private pension funds have reached EUR 13 billion. According to data from the Financial Supervision Commission, they have increased by..
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