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.
“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are the motors which can boost the economy, but the fact there is no regular government is an obstacle..
Bulgargaz has reported record interest in its tender for the supply of LNG to the Alexandroupolis terminal for January and February 2025. All nineteen bidders met the criteria set by the company and have been approved to participate in the next..
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
Urgent reform of Bulgaria's planning districts is needed, local authorities insist.The current regionalization shows increasing economic imbalances in..
Mostly Cloudy
Scattered showers
Cloudy
Cloudy