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The time of glocal inflation
The term "glocal", stemming from the terms "global" and "local", is usually used to describe a global event or process of local significance. This notion fits very well with the recent inflationary dynamics throughout the world and the dichotomy of mature economies such as the US, experiencing below...
Regular report on cost of labor, H2 2010
In late December 2010, Industry Watch subscribers received the new issue of the regular report on cost of labor Biggest Cities Review.
Total employment in Bulgaria shrank to under 3.1 million people in the 12 months to September 2010. That is a decline of 213,000 jobs compared to a year ago and 272,000 jobs less than 2008 which...
Personal assets and housing market in Q3 2010
Industry Watch distributed among its subscribers the quarterly report "Personal Assets in Bulgaria: Financial Wealth and Housing Market". Here are the highlights of the report.
In the last month fears of the emergence of a new fiscal crisis in Portugal, Spain, Italy and other indebted countries have intensified...
Open budget initiative 2010: International index of budget transparency
Bulgaria reported small decline in the budget transparency and is still far from the best examples for budget transparency in the world, according to the announced on Oct. 20th Open Budget Initiative 2010.
By one percentage point - from 57% to 56% declined the budget transparency in Bulgaria. Accordingly, Bulgaria is not among ...
Interest rates on the interbank market in Bulgaria and Europe
Interest rates on the interbank market in Bulgaria have been recently a subject of discussion. It is therefore useful to determine 1) whether interest rates in Bulgaria are indeed higher compared to other European countries and 2) is there a difference between interest rates on short-term and long-term loans.
In the short-term ...
Taxes on labor might increase
Tax wedge on labor contracts is now 32.3% of labor costs for the majority jobs. New suggested rates would increase it to 34.2% if accepted by parliament. Some of the effects would include:
- for a net wage of BGN 500 employer would face a total labor cost of BGn 759 (up from BGN 739 now)
- for unchanged labor cost of BGN 739 t...
Personal Assets in Bulgaria and the Housing Market in Q2 2010
Household financial wealth continued to increase, exceeding BGN 37 billion as of end-June 2010. The growth rate of the personal assets of Bulgarians accelerated again to over 10% annually.
Total household indebtedness to banks, leasing companies and specialized credit companies fell by 3% annually. Increased savings in combin...
Fiscal data for February shows alarming disbalance
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