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Our latest report on cost of labor sees Plovdiv labor 25% cheaper than Sofia.
A new feature of the regular report on cost of labor “Biggest Cities Review” – a joint research with the survey agency “Vitosha Research” – is the regional comparison between the wages of the medium skill-set workers. Medium-skill set refers to the job positions which require certain skills and abilities (but no specialized know... -
Industry Watch poll of forecasters envisages 6% economic growth in 2007.
This is the 6th time that we launch a macroeconomic forecasting poll among leading Bulgarian economists. That is the first independent source of economic forecast which can serve as benchmark for the outlook of the government and of the international institutions.This fall we update our spring forecast, based on poll among leadi... -
CPI inflation in Bulgaria stays much higher than the one in the Eurozone. However we do no see any risk of that “overvaluation” of the local currency.
In Bulgaria, CPI inflation was 5.6% in the year to September, while in the Eurozone it was 2.3% (to August). CPI is a measure of nominal cost of living of the average citizen of Bulgaria rather than of the monetary inflation of the local currency.Meanwhile monetary inflation (measure through prices of industrial commodities and ... -
Corporate tax rate down to 10% in 2007
The ruling coalition agreed to a 1/3 reduction of the corporate tax rate. Effective from January 1st 2007, the rate will be 10%, from the current 15%. The vote in the budget and finance committee of the parliament was supported by opposition parties. The Ministry of Finance insisted on 12% rate, but the political consensus in th... -
Economic Growth Stays at 5.5% in the Year to June.
In Q2 2006 economic growth was 6.6% in real terms (on the basis of Q2 2005). The registered nominal growth (measured in euro) is significantly higher than previous periods due to the quick inflation of the euro - the reserve currency of Bulgarian lev.... -
Pension industry grows by 34% in the year to June.
Pension industry is currently among the most dynamic sectors in the economy despite heavy regulation and slow reform of the pay-as-you go system. By mid-2006 private funds manage some 640 mln euro, or 34% more than a year before.Employers reacted positively to the pension-tax cuts in 2006. Registered employment grows at a steady... -
Nominal GDP in Q2 expected to be EUR 5.6 billion.
GDP in the year to March (NSI estimate) - EUR 22.0 billionGDP in the year to June (Industry Watch estimate) - EUR 22.5 billionNominal economic growth in the year to March - 10.5%Nominal economic growth in the year to June - 10.6%Real growth in 2006 (Industry Watch Poll of Forecasts) - 5.3%... -
Tax burden will most likely exceed 40% of GDP in 2006.
Budget surplus will again question the political goal of attaining a tax burden 40% of GDP. This goal has been set both in the mid-term budget forecast and in the agreement of the three-party coalition. If the tendency from the first six months remains the same, we can forecast an additional 1.2 billion BGN of revenues, which ...