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, the base interest rate does not have a direct impact on lending and deposit rates, which are mainly determined by the interest rates set by the European Central Bank. The BNB's interest rate concerns delayed debt repayment, primarily to the state or in inter-company relations under the Obligations and Contracts Act.
July 1 is the last day for declaring and paying corporate tax, taxes related to expenses, and taxes on the income of budget enterprises. Over 283,000 companies have already declared their revenues to the National Revenue Agency.
According to the Institute for Market Economics , today marks the so-called Tax Freedom Day , reported BNR’s correspondent Natalia Ganchovska. This is the day on which taxpayers stop working to pay their taxes and start working for..
“Bulgaria’s accession to the euro area will have a positive impact on the economy, the people, the business sector and the whole country”, said Minister of Economy Petar Dilov in an interview with public service broadcaster BNT. ''On January 1,..
The Association of Bulgarian Tour Operators and Travel Agents (ABTTA) expects tourism growth in Bulgaria to slow down due to the unfavourable economic situation in many of its source markets. It is not yet clear what effect Bulgaria's accession to the..
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