Foreign Interest Surges in Bulgarian Property Market, Especially in Resorts
Real estate agents have reported a surge in property purchases by foreigners in Bulgaria's resorts and major cities like Sofia, Plovdiv, Varna, and Burgas
Recent data released by the European Statistics Office Eurostat shows that the unemployment landscape in the European Union (EU) remained stable in February, with the unemployment rate holding steady at 6%. This figure mirrors the rates observed both in January 2024 and February 2023.
Similarly, within the eurozone, unemployment maintained consistency, registering at 6.5 % for February. This figure aligns with the rates recorded in January and represents a slight decline from the 6.6 % t reported in February of the previous year.
Eurostat's estimates indicate that in February 2024, the total number of unemployed individuals in the EU reached 13.249 million, with 11.102 million residing in the euro area. While the EU experienced a marginal decline of 13,000 unemployed individuals from January 2024, the euro area saw a slight increase of 17,000 individuals during the same period.
In comparison to February 2023, the EU witnessed a rise in unemployment figures, with 156,000 more individuals unemployed. Conversely, the euro area recorded a decrease of 30,000 unemployed individuals during the same timeframe. Bulgaria reported a steadfast unemployment rate of 4.4 % in February, maintaining parity with January's figures. However, this rate represents a slight uptick from the reported 4.1 % in February 2023.
During the reporting month, Bulgaria saw a total of 134,000 unemployed individuals, reflecting a marginal increase from January's 133,000 and 127,000 from the previous year.
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Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
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
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU