New member states from CEE have come a long way in the last two decades, building upon their competitive advantages, expanding economic freedom and seizing the opportunities of the European Single Market.
Bulgaria’s per capita gross domestic product in purchasing power parity terms has reached 64% of the European average in 2023. This is one of the indicators that most accurately shows convergence within the European Union, as it takes into account the differences in prices across countries and therefore gives fully comparable values.
Bulgaria’s Мinistry of Finance recently published the ‘tax package’ for 2024, including proposed changes to all tax laws. Alongside widely discussed cases such as the return of the standard VAT rate for restaurants and bread and non-payment of bills in case of an undeclared cash receipt, the package also includes perhaps the deepest change in business taxation in our country in over 15 years.
Total management collapse, poor infrastructure, shameful results, and alienation of fans from the stadium, now even aided by water cannons. The agony of Bulgarian football has reached an incomprehensible low. An appointed match for the national team with empty stands, fights outside the stadium, and a middle finger for farewell seem to mark the end of the team in the Bulgarian Football Union (BFU).
The period of instability in 2021 could easily be redefined as stretching up to 2022, given that the cabinet of Kiril Petkov lasted twice as short as that of Plamen Oresharski. The most recent elections show that the political crisis in Bulgaria is far from over.
The conclusions of the ECB’s report is that establishing an environment that favors a steady convergence requires policies aiming at economic stability, as well as wide structural reforms. This statement holds regardless of whether we will adopt the Euro or not.
In the last weeks, we saw debates between the state and the municipalities, which discussed options to increase the resources for local development, but once again these evolved in the direction of centralized solutions.
At the end of May, the IME wrote that it was high time for a ramp-up of vaccine efforts in Bulgaria. By this, we meant that the vaccination process should be made the first and foremost governmental priority, and that as many tools as possible should be sought and employed to speed up the pace.
The reason was obvious. The country was substantially far behind achieving the set target – vaccinating 70% of the adult population by the end of August.
The fight against speculation is a traditional topic for politicians, which became especially popular during the state of emergency declared on March 13, 2020. These are all topics that affect many spheres of our lives and where human action seeks a solution but politicians have put up unnecessary barriers.
Over the past 10 years, the Bulgarian economy has changed dramatically. The manufacturing sector is gradually shifting towards higher value added production. The number of employed in traditional industries, for instance the clothing industry and furniture manufacturing, has dropped significantly.
