EU Population Trends: Bulgaria Sees Largest Decrease
As of January 1, 2023, the European Union (EU) has a population of 448.8 million people. Germany is the most populous EU country, with 84.4 million residents (19% of the EU total),
The Bulgarian Ministry of Finance has unveiled plans to consolidate the National Revenue Agency and the Customs Agency into a single entity, marking a significant step towards streamlining financial operations in the country.
Drawing inspiration from several EU member states such as Denmark, Estonia, and Spain, which have successfully implemented similar unified structures, Bulgaria aims to enhance efficiency and effectiveness in revenue collection and financial oversight.
Minister of Finance Asen Vassilev has initiated the restructuring process, appointing Pavel Tonev, former director of the Customs Agency, as his advisor to spearhead the creation of the unified agency. Additionally, Petya Bankova, previously serving as deputy executive director, has been appointed as the Director of Customs.
Alongside the merger, leadership changes are also underway at the Agency for State Financial Inspection, with Ilka Dimova assuming the role of director. Stefan Belchev, the former director, will transition back to the Ministry of Finance.
The overarching objective of these structural adjustments is to optimize operations and align financial inspection processes with the highest European standards. By adopting best practices from across the EU, Bulgaria seeks to bolster its fiscal management mechanisms and enhance transparency and accountability in revenue collection and oversight.
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In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
In the initial quarter of 2024, Bulgaria's economy expanded by 0.4%, as per an expedited evaluation by the National Statistical Institute (NSI), a slight deceleration from the 0.5% growth witnessed in the final quarter of the preceding year
According to Levon Hampartzoumian, the likelihood of Bulgaria joining the Eurozone in 2025 is very slim, as no country has ever entered during the middle of the year
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