The Bulgarian Chamber of Commerce and Industry (BCCI) presented the 15th consecutive edition of "Bulgaria in Figures®" 2024 at a press conference. This edition is a registered trademark and is highly appreciated by state institutions and partner organizations. The report reflects key macroeconomic indicators of the country for the past five years, including the investment environment, tourism, imports and exports, education, and the labor market, as well as other important aspects of the Bulgarian economy.

Special attention is given to Bulgaria's ranking in international ratings, which can serve as an important guide for investors. Bulgaria's critical positions in these rankings can provide a solid basis for the government and institutions to create management programs and measures to improve Bulgaria's international ranking. This information is especially valuable for the Ruse region, as it provides data that can support strategic planning and attract new investments to our region.

Key Highlights from the Report:

• Economic Growth: The Bulgarian economy continues its growth, albeit at a slower pace. In 2023, GDP growth was 1.8% due to global economic and political challenges.
• Unemployment and Labor Market: Unemployment in Bulgaria remains low at 4.3% in 2023, and the labor market is stable with a slight increase in the employment rate to 70.7%.
• Tax Policy: Bulgaria maintains one of the lowest tax rates in the EU, with a flat tax of 10% on personal and corporate income. Additionally, the government has introduced a zero VAT rate on bread and flour as an anti-inflation measure.
• Financial Stability: Bulgaria has the second-lowest gross public debt in the EU27, reaching 21.0% of GDP for the third quarter of 2023.
• Inflation: The average annual inflation in Bulgaria decreased in 2023, reaching 9.5%, down from 15.3% in 2022.
• Imports and Exports: Bulgaria's exports reached €44.3 billion in 2023, a slight decrease of 7% compared to the previous year, while imports decreased by 10.2%, amounting to more than €49.5 billion.
• Foreign Investments: Foreign direct investments in Bulgaria for 2023 amounted to €3,619 million, with the most coming from Switzerland, Austria, and the Netherlands.
• Average Salary and Education: The average monthly salary reached €1,016, a significant increase of 14.2% compared to the previous year. The majority of the workforce (89%) has completed higher or secondary education.
• International Rankings: Bulgaria continues to develop and improve its position in various international rankings, including the press freedom index, the corruption index, and the energy transition index.

Impact on the Ruse Region

The "Bulgaria in Figures" report provides valuable information and analyses that are essential for the Ruse region. The data on macroeconomic indicators and international rankings can be used by local authorities and businesses for strategic planning and informed decision-making. Additionally, the information on tax policy and the investment environment can support efforts to attract new investors to the region.

The low tax rates and financial stability of the country provide additional incentives for business development in Ruse. The analysis of the labor market and average salaries enables employers to better plan their human resources and improve working conditions. Ultimately, the "Bulgaria in Figures" edition is an important tool for all stakeholders in the region working towards the economic development and prosperity of Ruse.

For More Detailed Information

For more details and the full text of the report, you can visit the following link: [Bulgaria in Figures 2024]

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This analysis is based on information provided by the Bulgarian Chamber of Commerce and Industry (BCCI).