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 63.35% to 78.40%. Despite this positive trend, the informal sector in Bulgaria has a higher rate than in any other EU country.
"We have seen a significant improvement - the number of employment contracts where employees are insured on minimum wage while in reality they receive more, has decreased, , says the author of the study Stefan Petranov. The sectors most affected by the informal economy are services, hotels, restaurants, construction and agriculture.
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The Romanian National Company for Road Infrastructure Administration (CNAIR) has announced a tender for a feasibility study for the construction of a new bridge over the Danube River between Giurgiu in Romania and Ruse in Bulgaria, reports..
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All non-household consumers will be compensated for the high cost of electricity by the end of the year, the government has decided. The European..
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