News

Tourism was undoubtedly the sector of the Bulgarian economy most affected by the covid-pandemic and restrictive measures. The suspension of flights, the disappearance of foreigners and the fear of contagion in public places led to an unprecedented decline in tourists, overnight stays and revenue to the extent that years of economic growth in tourist municipalities were erased. The Russian war in Ukraine also had its negative impact. However, indicators for summer 2023 point to an almost complete recovery of pre-crisis levels. Rumors of the death of online short-term rental platforms also appear to be greatly exaggerated.

In Sofia (region), several clear cores of economic activity, investments and jobs are taking shape, mainly thanks to the development of industry, logistics and mines in the wide periphery of the capital. Local labor markets have long since shaken off the negative effects of covid-19, and here are also some of the municipalities with the highest salaries in the country. However, the educational structure creates visible obstacles to further economic development, especially for smaller municipalities. Demographics are significantly more favorable than the rest of the country.

A few weeks ago, we looked at several alternatives to this year's minimum wage formula. We have demonstrated that it is possible to calculate the minimum wage, based on objective indicators of price dynamics, economic growth and labor market development, which avoids the problems that arise from its direct association with the average.

For more than ten years IME presents the only study of its scale and depth on the social and economic condition of the regions in Bulgaria. The regional profiles are based on 73 indicators that present the real picture in the 28 regions of the country and allow to deepen the conversation about regional development and the challenges facing local authorities. This year's presentation includes a legal focus and discussion.

The second round of the election will pass and it is time to look to the horizon beyond the release of the ballot and the election night of the commentators and the endless graphics on the televisions. Traditionally, the focus on local government will quickly disappear and everyone will rush to talk about the future of government.

For the past 12 years, the Institute for Market Economics has presented the study "Regional Profiles - Development Indicators". This year's analysis includes 73 indicators divided into 12 categories for the economic and social development of the Bulgarian regions and will be presented in detail at the end of November 2023. One of the key categories is Healthcare. It ranks the regions according to their results on 7 indicators key to the health system, and in the latest edition, an additional new indicator is included - "average life expectancy in years". Here we briefly present the changes in the positions of each area over the last 5 years and try to explore the main reasons for them.

The new edition of the study "Regional Profiles:Indicators of Development" 2023 is now ready and will be officially presented and published at the end of November 2023. The study includes 73 indicators distributed in 12 categories for the economic and social development of the regions.