Microeconomics

Cost of labor

The measures introduced by the government to support incomes were significant, however, they could make up for the high cost incurred by employers due to social security contributions.

In 2022: 22.9% of Bulgarians were below the Poverty Threshold of 525.92 Leva per month

In 2022, the total poverty line for Bulgaria was BGN 525.92 per household member per month. With this size of the poverty line, 1.5719 million people, or 22.9% of the country's population, were below the poverty line, according to data from the National Statistical Institute.

E-kalathi to be Cyprus’ tool for smart shopping

Based on the Cypriot government's timeline, the introduction of e-kalathi, a new digital platform for monitoring retail product prices, is expected to take place around early 2024. The bill has been given the green light by the Council of Ministers and will soon be presented to the Parliament.

Once passed, e-kalathi will be available as a smartphone application for consumers to use.

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