Petar Ganev

Petar Ganev, an economist from the Institute of Market Economy, discussed Bulgaria's readiness for joining the Eurozone in an interview with BNR, noting that the upcoming regular convergence report will likely indicate the country is not prepared.

As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal. Renowned economists, including Petar Ganev and Preslav Raykov, have weighed in on the matter, emphasizing the stability and positive prospects associated with the currency transition.

In 2022, inflation was in energy raw materials, since the beginning of this year, this has changed and food price increases are now leading. Petar Ganev from the Institute for Market Economy commented on this in the morning block of the National Television.

Georgi Vuldjev, an economic expert at EKIP, was also a guest on the topic.

Bulgaria's Tax Freedom Day in 2021 falls on May 20, the latest date in 10 years, said the Institute for Market Economics (IME). Theoretically, the average Bulgarians have worked for nearly 140 days to pay off their tax bill and start earning for themselves.

In an interview for BTA, Institute for Market Economics (IME) senior economist Petar Ganev forecasts that in a good-case scenario, if in the summer Bulgaria has made significant progress with the COVID-19 vaccination campaign, thus removing concerns over a new shutdown of the economy in autumn, the country's GDP could grow by some 3 per cent in 2021 and even by 4 to 5 per cent in 2022.

Unemployment in Bulgaria marked a record low, while at the same time economists report high employment for 2017.

Every second Bulgarian in working age worked in 2017. More than 3 million and 225 thousand people were employed in the third quarter of the year.

Economists say the reason is the growth of the economy by nearly 4%.

Close to 10% of Bulgarians fall into the category of ''extremely poor'', living with under 40% of the income earned by the middle class.

This has been shown by a research conducted by the Institute for Market Economy on the issue of poverty in Bulgaria and was presented by Petar Ganev Tuesday, as reported by OFF News.

Bulgaria's banking crisis eased on Monday with fewer depositors queueing to withdraw savings after leading politicians assured them that their cash was safe and the European Commission gave Sofia the green light to provide state aid to its lenders.