The pandemic has caused a seven-fold drop in the amount of money that Bulgarians abroad send to their relatives in the homeland. For the first 7 months of 2021, they have transferred just 98 million euros, according to the Bulgarian National Bank. In 2019 Bulgarians abroad sent a record sum of over 1 billion euros to their homeland. The working Bulgarians in the U.S., Germany and Spain sent the biggest sums to their relatives.
"Emigrant money plays a role of a complementary income for many households, especially for the poorer. The money is most often spent on food, fuel, and the purchase of small appliances. The decline would not affect the economy greatly but it would have an impact on household budgets", Adrian Nikolov from the Institute for Market Economy has told Radio Blagoevgrad.
Bulgaria’s industry is being transformed in the direction of high added value productions, reads an analysis by the Institute for Market Economics. This tendency is best manifested in computer science, electronics and optics which account for the..
Acceleration of inflation to 1.1% in October compared to the previous month was registered by the National Statistical Institute. On an annual basis, the index is 1.8 percent. In October, the prices of goods and services for..
A working group comprising representatives of employers, trade unions and government experts is discussing the proposals of the Ministry of Labor and Social Policy for introducing a new mechanism to determine the minimum wage. This is happening a day..
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