In 2020, 70,000 Bulgarians, or 1% of the population, owned 18.3% of the gross domestic product, which is equal to more than EUR 11.25 billion. In 2005, they owned 11.2% of the GDP, or EUR 2.4 billion. The wealth of the richest Bulgarians rose five times in the space of 15 years. In 2005, the richest 10% of the population owned 34.6% of the GDP, whereas in 2020, they owned 43.6%.
In 2020, 50% of the poorest Bulgarians owned 19.6% of the country’s GDP. Fifteen years later, they owned only 16.4% of the GDP. The concentration of financial resource in fewer people hampers economic growth and undermines competition, Lyuboslav Kostov, Director of the Institute for Social and Trade Union Research said for “24 Chassa” newspaper.
The advantages of Bulgaria’s joining the Eurozone by far outweigh the risks, and now, more than 20 years after the introduction of the currency board, when the Bulgarian Lev was first pegged to the Deutsche mark and then to the euro, many experts are..
InvestBulgaria Agency (IBA) government agency is organizing an international business and investment forum in Sunnyvale in the Silicon Valley in California, USA. The event, aimed at asserting Bulgaria as a successful investment destination,..
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..
The war in Ukraine is putting the world economy to the test, and UN experts are presenting an outlook for 2023 with the slowest growth rate in a decade...
Parliament has approved an increase in Bulgaria’s shareholding in the capital of the Black Sea Trade and Development Bank. At the beginning of 2023,..
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