BGN

Revenues from overnight stays in Bulgaria witnessed a robust recovery in November 2023, surpassing pre-pandemic levels and marking a positive trend for the nation's tourism industry. According to the latest data from the National Statistical Institute (NSI), November 2023 revenues reached BGN 69.1 million, exceeding the pre-pandemic figures of BGN 42.8 million in November 2019.

Electricity costs for Bulgarian businesses soared by approximately 12% as Monday's trading on the Independent Bulgarian Energy Exchange (IBEX) closed, setting the stage for a steeper bill on Tuesday, January 9.

A significant boost awaits educators in Bulgaria as teacher salaries are set to surge by 8.4% starting January 1, 2024, revealed by the Ministry of Education and Science. This raise comes following the inking of a new collective agreement on December 28, 2023, encompassing the pre-school and school education system.

With the start of the new year, several significant changes and regulations have come into effect across Bulgaria, impacting various aspects of daily life and welfare.

1. Minimum Wage Increase: The minimum wage sees a substantial hike, climbing from BGN 780 to BGN 933 (EUR 476), resulting in a net pay of BGN 723.99 after deductions.

The recent charity show held at the Ivan Vazov National Theatre as part of the Bulgarian Christmas initiative amassed a remarkable donation exceeding BGN 2,550,000, announced by the President's Press Secretariat.

The Bulgarian National Assembly passed a resolution, greenlighting the potential takeover of liabilities amounting to BGN 1.6 billion from Toplofikacia Sofia, the primary district heating company in the capital city. These outstanding debts are owed to both the Bulgarian Energy Holding and state-owned gas supplier Bulgargaz.

The National Assembly achieved a significant milestone on Monday as it greenlit the 2024 National Health Insurance Fund (NHIF) Budget Bill on its second reading. This crucial legislation outlines the financial blueprint for the NHIF in the coming year.

Bulgaria's Defense Minister, Todor Tagarev, disclosed to BNT that the initial set of F-16 aircraft is expected to touch down from the United States during the first quarter of 2025.

Having invested BGN 2.2 billion in 2019 for eight fighter jets, Bulgaria committed an additional BGN 2.6 billion in 2022 for an additional eight, payable in installments.

Bulgaria's wholesale food prices witnessed a moderate rise, with the market price index (MPI) climbing by 0.54% to reach 2.242 points this week, as disclosed by the State Commission for Commodity Exchanges and Wholesale Markets.

Investments from the USA and Canada in Bulgaria surpass the country's official balance of payments report findings, as per a recent Institute for Market Economy (IME) study spanning five years.