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Data for private sector wages supports the tax-cut policy.
Those are some of the results from reduced tax rates on labor contracts. The reduction of social insurance burden by 6 percentage points effectively led to a decrease in tax burden of about 4 percentage points, measured by that part of labor cost which goes to the budget.Those effects were in part already known, as the date for ... -
Tax burden will most likely exceed 40% of GDP in 2006.
Budget surplus will again question the political goal of attaining a tax burden 40% of GDP. This goal has been set both in the mid-term budget forecast and in the agreement of the three-party coalition. If the tendency from the first six months remains the same, we can forecast an additional 1.2 billion BGN of revenues, which ... -
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... -
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 ... -
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... -
Commnet on Latest GDP Data.
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Conservative Fiscal Spending in the Beginning of 2006.
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