Bulgarian Chamber of Commerce

Bulgaria could potentially adopt the euro on July 1, 2025, if all the necessary steps are taken within the required timeframe.

The registered construction companies in Bulgaria have reached nearly 7,500 for the first time. The largest share consists of small firms with up to 49 employees, totaling 6,527.

A decision on Bulgaria and Romania's full membership in the Schengen area for free travel is expected by the end of the year, according to Yordanka Chobanova, head of Bulgaria's EU permanent representation, as reported by BNR.

On BNR, Maria Mincheva, the deputy chairwoman of the Bulgarian Chamber of Commerce, emphasized the urgent need for a specific date for Bulgaria's Schengen accession, stating that clarity is essential for businesses. She pointed out that remaining outside of Schengen not only harms Bulgaria's reputation but also undermines investor confidence in the country.

Chinese online trading platforms are inflicting significant financial damage on European and Bulgarian manufacturers, leading to business closures and job losses in Bulgaria. The influx of low-quality Chinese goods has resulted in increased waste management issues in Europe.

In the next 20 years, nearly half of Bulgaria's workforce is expected to be over the age of 55, reflecting a significant aging trend in the country. A study by the Bulgarian Chamber of Commerce (BCC) reveals that if this trend continues, the proportion of older workers could reach 48 percent, with two-thirds of the employed population representing older generations.

In a discussion on Nova TV, Veselin Nalbantov, vice-president of the Bulgarian Hotel and Restaurant Association, along with Todor Kapitanov, vice-president of the Confederation of Independent Trade Unions of Bulgaria (CITUB), and Tomcho Tomov, an expert at the Bulgarian Chamber of Commerce (BCC), tackled the issue of the labor force in Bulgaria.

Bulgaria and Turkey stand out with the lowest average annual net incomes in Europe, amounting to 9,355 euros and 8,968 euros respectively, according to data from Eurostat. This stark contrast underscores the significant wage disparities across the continent, influencing employment dynamics and economic decisions.

The Bulgarian Ministry of Finance projects that Bulgaria will satisfy the inflation criterion by the year's end, as per the ministry's models. Deputy Minister of Finance Metodi Metodiev highlighted this during the "Introduction of the Euro - Risks and Challenges: The Experience of Croatia" conference.

The Bulgarian Chamber of Commerce and Industry (BCIP) is exploring the option of importing labor from India to address the shortage of skilled workers in various sectors of the country's economy. In collaboration with the Indian-Bulgarian Business Chamber, discussions will be held to explore the feasibility of this initiative.