The MPs approved, at first reading, the update of the state budget. As of 1 July a differentiated VAT rate is being put in place – for bread VAT will be zero, for natural gas supplies – 9% instead of the current 20%. VAT on wine and beer served at bars and restaurants will be 20%, up from 9%, a reduction that was introduced during the pandemic. Pensions are to go up as well.
The budget is calculated at an economic growth of 2.9% and an annual inflation rate of 11.9%, even though, according to the National Statistical Institute, annual inflation now stands at over 15%.
The most heated debates in plenary were over the increase in the debt limit to EUR 5.1 billion. Deputy Prime Minister and Minister of Finance Assen Vassilev gave as the reason for this the need to revolve old government debts.
A Bulgarian-Ecuadorian Business Forum will be held in Bulgaria, jointly organized by the Bulgarian Chamber of Commerce and Industry and the Pro Ecuador office in Italy, accredited for Bulgaria. The event will take place on March 13, 2025 at the..
The USA is among Bulgaria's leading foreign trade partners, the US market is among the main export destinations for Bulgarian high-tech products . This was announced by the Minister of Economy and Industry, Petar Dilov, at the opening of the Explore..
A Bulgarian-Greek Business Forum with the participation of nearly 60 companies from both countries has opened today in Sofia . The forum is organized by the Bulgarian-Greek Chamber of Commerce and Industry and the Bulgarian Chamber of Commerce and..
The pig meat sector in Bulgaria is showing signs of growth. This was announced at the International Forum "Modern Trends in Pig Farming: Scientific,..
Partly Cloudy
Mostly Cloudy