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The fast inflation of the euro is resulting in higher than expected tax revenues in Bulgaria.
The current government was the first make bold to cut the most economically damaging tax – the obligatory security contributions in the state social funds. The results for the moment are positive – the revenues from contributions remained stable in nominal terms for the first five months of the year as this decision gave valuab... -
Nominal productivity reached 660 euro monthly per person.
Gross value added (GVA) in the non-farm business reached 18 billion euro in the year to March. Business sector excludes the public sectors like administration, healthcare and education. Non-farm business excludes also agriculture for which no reliable statistics is available.Nominally speaking, Bulgarian economy keeps growing at... -
Industry Watch released its regular report on cost of labor “Biggest Cities Review” – a joint survey with Vitosha Research.
Sofia offers the most expensive labor. The only city where numbers are close to the capital is Varna. In the second-biggest city Plovdiv, labor is about 20% cheaper than in the capital city, and about 10% cheaper than Burgas. The cheapest labor among the regional centers may be found in Vidin – about 43% cheaper than Sofia.Diffe... -
Exports as Growth Engine.
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Comments on latest BoP data.
Current account deficit widened by 91% in Q1 of 2006 compared to Q1 of 2005 to reach EUR -1 052 million. At the same time the financial account balance went down by -44% to EUR 570 million. Thus domestic savings rate continued to decrease. For 2005 it was 16.2% of GDP compared to 17.6% in 2004. Both exports and imports of goods ... -
Economic growth in 2006 to be 5.3% according to Industry Watch poll of forecasters.
As an independent source of economic research and analysis Industry Watch presents regulars forecasts on Bulgaria’s economy, based on a poll of selected macroeconomists. The poll takes place twice a year (spring and fall). In the current spring poll we present the updated forecast for 2006 and a forecast for 2007. We expect the ... -
Rise of minimum wage in the current political agenda.
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Average Productivity up by 4.7% in 2005.
Employment in the non-farm private sector grew by 5% in 2005. Thought growth remained robust, it is well below its pace a year earlier (close to 7%). Alongside the deceleration of employment growth, real price of labor started to rise quicker. Last year, real productivity grew by 4.7%, measured in real terms for the non-farm bus...