ExpatinBulgaria

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25° Sofia, Bulgaria

16° Plovdiv, Bulgaria

21° Varna, Bulgaria

21° Burgas, Bulgaria

BNB Fixing - August 28 2008

EUR 1,95583

USD 1,32446

GBP 2,44570


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Home > Survival Guide > Finance

Finance

The official currency in Bulgaria is the lev. One lev is divided into 100 stotinki (singular, one stotinka). Following hyper-inflation in the mid-90s, a currency board was introduced and the lev was tied to the value of the euro and one euro is now worth 1.95 leva. Now that Bulgaria became EU member state, it is expected to accept the euro as currency in a couple of years.
Bulgaria's main financial institution is Bulgarian National Bank, which determines conditions for economic policies and regulates the work of all other financial institutions in the country.
Until 1989, all economic transactions in Bulgaria were state-controlled and the country had a centralised economy. Since the fall of communism, a market economy based on liberal market principles has been established.
Average salaries in Bulgaria are still well below the EU average. As a result, foreigners in the country find the cost of living relatively low. The situation is expected to change only gradually after Bulgaria entered the EU on January 1 2007.

News

Coastal investors in Bulgaria unhappy with state regulations

Municipalities and investors in the Black Sea coastal region are dissatisfied with coastal construction conditions that the Regional Development Ministry determined. The ministry called for lower buildings that are located far away from each oth.....| Read more


European experts fail finding major problems in Bulgaria's aviation: An expert evaluation that the....

Guarantees needed to attract investors to Bulgaria- Beyrle: The biggest problem Bulgarian business....

2006 most successful for Bulgaria's economy since start of transition- Oresharski: Sine the start ....

Useful info

Bank offices and financial services

Commercial Banks   NAME ADDRESS TELEPHONE E-MAIL WEB SITE HVB Bank Biochim 1 Ivan Vazov Str, 1026-Sofia .....| Read more

Costs of living

Cost of living Loaf of bread 0.30 euro  Box of milk 1 l 0.75 euro  Cheese 1 .....| Read more

Taxation overview

In view of the country's upcoming European Union accession, Bulgaria has made considerable reforms in the taxation system to harmonise it with EU legislation. In 2006, the corporate tax rate remains 15 per cent. Special-purpose investment compan.....| Read more

FORUM Latest Posts: Survival guide

Help needed guys re schools and loaction etc please xx | in Relocation and Moving | 28.08.2008, 14:17:46
Help... | in Expat Aiding Expats | 27.08.2008, 13:16:42
LOCAL LABOUR | in Expat Aiding Expats | 26.08.2008, 21:19:23
Wizzair | in Expat Aiding Expats | 26.08.2008, 00:17:12
Furniture making (Beds)any one? I'd love a helper | in Expat Aiding Expats | 24.08.2008, 22:50:39
Some questions from fellow expats have still gone unanswered.
Thursday, August 28 2008

Expat of the Week

jgidd

I'm primarily a "Musical Man" who writes folky or psychedelic songs in English and some in Bulgarian ... read more

What`s on in Bulgaria

Cultural Institutes

  • DANA KYNDROVA, LIBUSI KYNDROVA, OCCUPATION, NORMALISATION, WITHDRAWAL
    What: A joint exhibition of photographer Dana Kyndrova and her mother, Libusi, remembering the occupation of Czechoslovakia by the troops of the Warsaw Pact forty years ago.
    When: June 30 to September 19
    Where: the Czech Centre, 100 Rakovski Str, Sofia

Art

  • GERMAN COLLECTION
    What: This general exhibition presents works by German painters from the first half of the 20th century. Executed in the style of classic German painting, the selection presents authors such as P. Pralke, H. Zeitsser, Eggert, and Arnold Baur, among others.
    When: Until September 20
    Where: Viga Gallery, 100 James Bourchier Blvd, (Kempinski Hotel Zografski), Sofia
  • LIKE MOTHER, LIKE DAUGHTER – ANI KARALAMBEVA AND NIYA ABRASHEVA
    What: Drawing on her experience and expertise as a long-time textile designer, Ani Karalambeva collaborates with her daughter Niya Abrasheva to create beauty in the ever-saturated world of fashion and interior design. The exhibition presents mixed media wall pa
    When: Until October 8
    Where: Azza Gallery of Modern Art, 25 Cherni Vruh Blvd, Sofia
  • IN PETAR ALEXANDROV’S SCULPTED WORLD
    What: For inspiration to create his delicate sculptures, Petar Alexandrov has looked to the artisanship of Bulgarian ancestors, feminine beauty and one imaginary dimension inhabited by mythological creatures. In his sculptures, Alexandrov tries to capture the s
    When: Until September 10
    Where: Minerva Gallery/Grand Hotel Sofia, 1 Gourko Str, Sofia