A World Bank report on public finances in Bulgaria points out the need to improve VAT collection. It also states that greater efficiency is needed in public procurement, spending on education and helping the vulnerable groups.
According to the authors of the report, if measures were not taken now, in the long term the potential for economic growth would be severely limited. As an example, the still differentiated VAT rates, especially in the restaurant industry, the inefficient spending on education and public procurement are pointed out. It is for this reason that “if the necessary reforms are not undertaken now, growth could slow to around 1.25% by 2050." According to Deputy Minister Georgi Klisurski, in order to accelerate growth, the ministry will rely heavily on investments. Therefore, negotiations with foreign investors are conducted daily.
The Bulgaria army will make up for the lack of personnel but not immediately. For 2025, we have money to hire only 1,000 new soldiers, said Defense Minister Atanas Zapryanov before the relevant parliamentary committee. The committee supported the..
Bulgaria remains a net exporter of electricity and one of the pillars of the energy system in Southeast Europe. Electricity exports exceed imports by 3.1% in 2024. According to this indicator, the country ranks 11th in Europe. Among the..
At a ceremony at the Vytautas Magnus University in the Lithuanian city of Kaunas , the rector of Sofia University “St. Kliment Ohridski”, Prof. Georgi Valchev, accepted the rotating presidency of the international university alliance..
The President of the “Renew Europe” group in the European Parliament, Valérie Hayer, called on the European Commission to urgently send a mission to..
On Thursday, minimum temperatures will range between 6 and 11°C across the country. Along the Black Sea coast, they will reach 13 to 16°C , while in Sofia..
Legislative amendments banning individuals sanctioned under the global Magnitsky law from holding senior government or party positions will likely be..
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