Economy

Earlier this month, it became clear that the World Bank has classified Bulgaria as a high-income country. This news is an important reflection of the long-term growth trajectory and catching-up process of the developed countries, particularly those in the European Union. Still, it is far from meaning that Bulgaria already has a guaranteed spot in the rich countries club and does not have any difficult problems to solve.

Bulgaria loses between 2.4 and 4.9 billion USD of additional GDP per year due to discrimination against LGBTI+ people, as estimated in a report[1] by the Institute for Market Economics (IME). Bulgaria\'s GDP could be 2.5% to 5% higher were there to be full acceptance and equality for LGBTI+ people, according to an estimate by IME based on the 2023 data.

In the past weeks, the convergence reports of the European Commission and the European Central Bank were published. The result for Bulgaria is expected - the inflation rate is higher than the reference value and therefore the country does not meet this Eurozone membership criterion. In practice, this puts an end to the question of whether the country can adopt the euro on 1 January 2025 - no, there is no such possibility.

Regulations are suffocating our freedoms, interfering with our lives, livelihoods, and comforts. Freedoms should be the priority of decision makers, but even the most basic freedoms such as those of trade and movement, vitally important principles in the EU, were set aside on the pretext of the COVID-19 pandemic.

Farming is becoming a hot topic in the most powerful rooms in Brussels. But unlike those working in agriculture, EU politicians are oblivious to temperature change. The complexities of agriculture merit more attention from European politicians than what it currently gets.

Ukraine is experiencing an intense heat wave, with temperatures reaching 40 degrees Celsius. The situation is exacerbated by frequent power outages, lasting 15 to 18 hours a day, rendering air conditioners useless. These power shortages, the result of significant damage to Ukraine\'s power infrastructure caused by Russian military actions in March and April 2024, are profoundly impacting the daily lives of Ukrainians daily lives and business operations.

Last October, the European Central Bank (ECB) announced that it was concluding the research phase of the Digital Europroject and moving on to its implementation. However, the questions of what impact the introduction of central bank digital currency (CBDC) will have on the financial market and whether it will benefit consumers still need to be answered. 

It is not hard to see why Universal Basic Income (UBI) is such a popular idea. It is an idea to pay everyone a fixed amount of money regularly, with no strings attached. According to its proponents, UBI would eradicate poverty, save people from burnout at work, stimulate new businesses, and unleash people\'s creative powers. Ultimately, it would save the planet from destruction - less work means less production and less production means less pollution.

Ostrava is an often overlooked region in the Czech Republic, facing a very difficult and uncertain future over the next decades. The region has historically been entirely dependent on coal mining, which is an unenviable position at present time, as the mines are being closed. Mining has historically made it the industrial backbone of the country, but heavy industry is currently in decline.

On June 4 and 18, 1989, partially free elections for the Sejm and fully free elections for the reconstituted Senate were held in Poland. As a result of these elections, a democratic political system was established, and decisive economic reforms were initiated between 1989 and 1990, which included stabilization and free-market changes. Poland was the first socialist country to begin departing from the system imposed by force, which was flawed.