Bulgarian Businesses Trapped in Rising Wages and Low Productivity

Bulgarian businesses are facing a critical juncture as they grapple with escalating wages amidst persistently low productivity, prompting calls for substantial reforms in the labor market and education system to bolster competitiveness. Economists at the Ministry of Finance's Council for Economic Analysis recently highlighted these challenges during their annual conference. They underscored that Bulgaria's labor costs are rising rapidly without corresponding gains in productivity, lagging behind EU standards....