Money

Budget 2018 Provides More Money for Bulgarian Municipalities

Budget 2018 Provides More Money for Bulgarian Municipalities

12:10 | 30.10.2017 | by Standartnews
(October 30, 2017 Sofia) The state subsidies for the Bulgarian municipalities for 2018 amount to BGN 3.264 billion. This is by BGN 382.7 million more than the planned subsidies for 2017, reads the draft budget for 2018, which has been submitted for public discussion by the Ministry of Finance. Thus, the mayors are going to have more money to finance projects of local importance, such as renovation and rehabilitation of school buildings, kindergartens and daycare homes, as well as for...
Survey: Homes in Varna Are the Most Expensive

Survey: Homes in Varna Are the Most Expensive

09:18 | 23.10.2017 | by Standartnews
The housing prices in the northern coastal city of Varna are the fastest rising. On the whole, property prices in the second quarter of the year are 8.6% higher than in the same period last year, according to information of the Nationals Statistics Institute (NSI). In Varna, however, the apartment prices have risen by 13.9% per year. The city of Rousse on the Danube is ranked second with an average rise in property prices by 12.8%, while Sofia is ranked third with 10.6%. In all six cities...
Bulgarian Business Starving for Qualified Personnel, Salaries Are Soaring

Bulgarian Business Starving for Qualified Personnel, Salaries Are Soaring

10:22 | 18.10.2017 | by Standartnews
(October 18, 2017 Sofia) "The business in Bulgaria is literary starving for qualified personnel and companies are luring talented candidates with quite comfortable monthly salaries so as to keep them here. We have estimated that the average monthly salary in Bulgaria has increased by about ten percent year-on-year and the tendency is set to persist. The highest increase in the monthly remuneration has been registered in the sectors with the most acute demand for qualified workforce...
Bulgarians Consider Themselves Well-off with BGN 1,000 per Month

Bulgarians Consider Themselves Well-off with BGN 1,000 per Month

09:22 | 16.10.2017 | by Standartnews
(October 16, 2017 Sofia) - Wealthy Bulgarians eat less bread, but significantly more fruit, vegetables and meat than their poor fellow citizens, according to a recent survey of the National Statistics Institute (NSI) on the living standard in Bulgaria. In Bulgaria, the middle class is about 10% of the population and has an annual income of BGN 12, 977 which makes BGN 1,081 per month. The amount is quite small compared to the average salary for the country, which is already over BGN...
CITUB: Salaries in Bulgaria The Second Lowest on the Balkans

CITUB: Salaries in Bulgaria The Second Lowest on the Balkans

12:26 | 10.10.2017 | by Standartnews
(October 10, 2017 Sofia) - „Living standard in the focus of the trade unions' attention" this was the topic of the international conference organized by the Confederation of the Independent Trade Unions in Bulgaria (CITUB) and Friedrich Ebert Foundation in Sofia. The conference was opened by CITUB leader, Mr. Plamen Dimitrov, who presented a recent survey on the average salaries on the Balkans in the second quarter of 2017. It shows that the average monthly salary in Bulgaria is...
Bulgarian Economy Grows 3.9% in 2016

Bulgarian Economy Grows 3.9% in 2016

08:54 | 05.10.2017 | by Standartnews
(October 5, 2017 Sofia) Bulgaria's economic growth for 2016 is 3.9%, the national statistical institute has said. This has been the highest economic growth since the financial crisis of 2008. Preliminary calculations had suggested that the economy would grow by not more than 3.4% by December 2016. In 2016, Bulgaria generated BGN 94.13 B from goods and services, meaning that export and domestic consumption are the main pillars of the country's economy. Statistics show that in 2016 the...
EUR 15 M Plant near Plovdiv to Make Airbus Doors

EUR 15 M Plant near Plovdiv to Make Airbus Doors

08:23 | 28.09.2017 | by Standartnews
(September 28, 2017 Sofia) – France-based company Latecoere, a leader in the field of aerostructures and interconnection systems, is planning to invest EUR fifteen million in the construction of a production facility near Bulgaria's second largest city of Plovdiv. The plant will spread on four thousand square meters and will employ some 200 professionals. Its product range will include doors for the passenger planes of Airbus and electrical enclosures. Yesterday's groundbreaking...
Energo Pro Ready to Pay EUR 300 M for CEZ Bulgaria

Energo Pro Ready to Pay EUR 300 M for CEZ Bulgaria

09:44 | 25.09.2017 | by Standartnews
(September 25, 2017 Sofia) -  According to a publication of Hospodářské noviny, Energo Pro has increased its bid to acquire the Bulgarian arm of CEZ Group to EUR 300 M. This is a little above the prize CEZ paid to acquire the energy distribution companies in Western Bulgaria. CEZ set foot on the Bulgarian energy market back in 2004, acquiring majority stakes in Western Bulgaria's energy distributors for EUR 281 M. A few years later CEZ acquired the shut down Varna...
Uzbekistan Opens Market for Bulgarian Foods

Uzbekistan Opens Market for Bulgarian Foods

10:04 | 21.09.2017 | by Standartnews
(September 21, 2017 Sofia) The possibilities for encouragement of the trade and bilateral investments between Bulgaria and Uzbekistan were discussed by the presidents of the two countries, Rumen Radev and Shavkat Mirziyoyev, during their meeting in New York City yesterday. The news has been announced by the press office of the Bulgarian President. They agreed that a government delegation of Uzbekistan should come to Sofia in the near future to pave the way for an official visit of...
Non Performing Corporate Loans Stifle Bulgaria’s Business

Non Performing Corporate Loans Stifle Bulgaria’s Business

09:09 | 19.09.2017 | by Standartnews
(September 19, 2017 Sofia) - According to the latest set of recommendations of the Council of Europe to Bulgaria, the government in Sofia should work to reduce the share of non-performing corporate loans which is far above the average for the EU. "Corporate debt remains high (well above that of peer countries), placing a burden on companies' balance sheets and potentially constraining credit demand and investment over the medium term. To reduce the still-high level of corporate...
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