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.
A forum entitled "Career and Life - Why in Bulgaria?", organized by the Bulgaria Wants You platform, was held at the Royal Geographical Society in London on October 20. The event, which took place for the second time, attracted significant..
International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone..
In 2023, Bulgaria's GDP growth was 1.9% higher in real terms compared to 2022. This is 0.1 percent more than the initially announced growth of 1.8%, the National Statistical Institute has reported. The chairman of the institute,..
The final price at which Bulgargaz will sell natural gas in December to end suppliers and to persons with a license for the production and transmission..
Urgent reform of Bulgaria's planning districts is needed, local authorities insist.The current regionalization shows increasing economic imbalances in..
Mostly Cloudy
Rain
Scattered showers
Cloudy
Snow
Rain / Snow
Cloudy