News Summary: Bulgaria’s Budget Act, Unemployment Figures and More

Written by on December 2, 2016 in Bulgaria, Business - No comments

The 2017 Budget Act was passed at the parliament in Sofia yesterday, with hardly any debate. The latter aspect surprised some oberservers. That is because the recent resignation of Bulgaria’s government, announced by Prime Minister Boyko Borissov after a landslide defeat of his candidate in the presidential elections, had many wondering whether the 2017 Budget Act would ever pass that vote.

Had the budget not been passed, the caretaker government, which will probably be appointed before this year is over, would have been forced to work on a month-by-month basis. The detailed, in-depth story can be found at The Sofia Globe.

In the meantime, Eurostat has released the European unemployment numbers. Unemployment in Bulgaria in October of 2016 was at 7.4 percent, which is lower than it was in October of last year (8.1 percent). Also, the rate is below the European Union average, which was at 8.3 percent in October.

Youth unemployment in Bulgaria has seen a significant decrease. It used to be 20.7 percent in October of 2015, but slumped to 14.5 percent in October of 2016. The detailed story can be found at The Sofia Globe as well.

At the same time, poverty is still the most serious problem in Bulgaria. Eurostat, the European statistics agency, released data which show that one third of all Bulgarians can not afford to get together with friends for a drink or a meal once a month. The detailed story can also be found at The Sofia Globe.

By im.




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