Progressive income taxation allows a country's resources to be shared more successfully with society. The 10% flat tax has played its role in shedding light on incomes, but it's time to replace it, Kristalina Georgieva, managing director of the International Monetary Fund, told BTA.
Speaking about the expectations for Bulgaria's entry into the Eurozone, she said that despite the upcoming elections, when there is unity between the main political forces, the goal can be achieved and this chance should not be missed.
"Bulgaria, like the rest of the world, has made the fight against inflation a priority and has achieved quite a lot. Inflation continues to fall and we expect to see it by the end of the year in the range of around 3 percent. "Sofia has a way to meet the requirements for entering the Eurozone," Georgieva added.
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate was 3.78%. Bulgaria is in a currency board and the Bulgarian lev is pegged to the euro. Therefore,..
Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet the..
Bulgaria will receive €65.2 million from the EU for a project to reinforce the electricity grid to better support the integration of renewable energy, the European Commission said in a statement. The money is part of a total of nearly €3 billion..
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