Use Cards to Smooth Bulgaria’s Euro Transition

Vasil Velev, head of the Association of Industrial Capital in Bulgaria (AICB), warned that state administration spending is putting a heavy burden on businesses during an appearance on the BNT morning show.

Velev highlighted the rising wages in state sectors such as Security, Defense, and the Court and Prosecutor’s Office, noting that these areas consume more than a third of government funds. He also drew attention to Bulgaria’s demographic challenges, describing the situation as “catastrophic,” with the country losing approximately 50,000 people annually as deaths outnumber births.

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