Experts outlined the situation in Bulgaria in "The Future: The Labor Market and the Euro" on Bulgaria ON AIR
Bulgarian business is expected to save over 1 billion BGN annually after the elimination of revaluation costs following our entry into the Eurozone on January 1, 2026. At the same time, business faces the problem of acute labor shortages in many professions.
"Business expectations in Bulgaria are extremely positive. In practice, we have been participating in this monetary union through the currency board and the past linkage of the Bulgarian lev to the German mark and to the euro. However, without enjoying the significant benefits that such a monetary union provides. Finally, we will complete this full integration of Bulgaria into the European family" - this was stated by the Chairman of the Board of Directors of the Association of Industrial Capital in Bulgaria (AICB) Rumen Radev in the special multi-platform project of Bulgaria ON AIR "The Future: The Labor Market and the Euro", which was broadcast on October 6 on the airwaves, websites www.dnes.bg, www.bgonair.bg and the television's social media networks.
According to him, once we become part of the world's first currency, we are not replacing our own monetary unit and losing sovereignty, but we have our own common currency. According to Radev, it is important to be part of the huge market where the main currency is our monetary unit - the euro. He clarified to the show's host Kalina Donkova that our incomes do not depend on which organization we have joined.
"Our incomes depend on economic activity, on productivity, on the efficiency of the economy. Bulgaria has a high share of industry in gross domestic product. The share of services is also not low. We expect that the better investment climate will provoke investments and jobs in sectors with higher added value. There will be restructuring of the economy", explained the Chairman of the Board of Directors of AICB and clarified that employees must be highly qualified.
Bulgaria has the most intensive growth in increasing wages, Radev emphasized and identified the lack of personnel as the main problem. According to him, part of the problem lies in unfavorable demographics. "Currently, we have about 2.2 million working employees in the country. Qualification is key. We have set education as a priority", he concluded.
The Institute for Market Economics (IME) reports a decline in employment among young people and low-skilled workers. This is also shown by the data of the National Statistical Institute for the second quarter of the year. "The challenges are in several main directions. If we start with the group of economic challenges, this is the trend of constant growth in wage and labor costs, without a direct link to productivity", commented Anna Pancheva, Head of "Human Resources" at Kaufland Bulgaria. Secondly, she highlighted demographic challenges.
"All trends indicate a significant shortage in specific sectors and a real inability of businesses to meet their needs. This part is related to about 180,000 registered unemployed at the moment, with unemployment in our country being almost 2.5-3% below the European average. For the large cities, it clearly states that there are no unemployed," explained Pancheva on Bulgaria ON AIR.
According to her, the third group of challenges is geographical, adding that there are regions that are moving at different speeds. According to Pancheva, as we transition to the Eurozone, greater transparency will be initiated, which is a positive direction.
"Let's imagine that education and employers are the two parents of what will be born at the output of the education system. They need to work in sync to achieve good results," commented the rector of the University of Economics - Varna, Prof. Evgeni Stanimirov, in "The Future: The Labor Market and the Euro".
The Deputy Rector for International Activities of the Technical University - Sofia, Prof. Eng. Lidia Galbova, said that the university has long-standing traditions regarding cooperation with industry. "We partner with companies, both from Bulgaria and world-renowned ones from almost all sectors of industry," she added.
According to her, in recent years there has been an increased interest from business itself in the educational programs offered by the Technical University in Sofia. "Education, day by day, especially higher education, deepens the link between education and business organizations. The labor market deficit is related to specific shortages of certain personnel. This is related, on the one hand, to the outflow of applicants in the last 10 years from specialties related to engineering sciences," said in turn the rector of the Higher School of Telecommunications and Posts, Prof. Dr. Miglena Temelkova, on Bulgaria ON AIR "The Future: The Labor Market and the Euro".
Artificial Intelligence
"The market is becoming so dynamic with the advent of artificial intelligence," noted Prof. Stanimirov. "Artificial intelligence has changed the dynamics. It is much faster and we must seek new adequate solutions," agreed Prof. Eng. Galbova. According to Prof. Stanimirov, Bulgaria is in last place in terms of innovative activity in Europe. He emphasized that the budget should take care of the welfare of people in the country.
More than the discussion "The Future: The Labor Market and the Euro" on Bulgaria ON AIR can be found on bgonair.bg.
Partners of "The Future: The Labor Market and the Euro" are:
Technical University – Sofia, University of Economics – Varna, Higher School of Telecommunications and Posts, Kaufland Bulgaria.
bloombergtv.bg
Bulgarian business is expected to save over 1 billion BGN annually after the elimination of revaluation costs following our entry into the Eurozone on January 1, 2026. At the same time, business faces the problem of acute labor shortages in many professions.
"Business expectations in Bulgaria are extremely positive. In practice, we have been participating in this monetary union through the currency board and the past linkage of the Bulgarian lev to the German mark and to the euro. However, without enjoying the significant benefits that such a monetary union provides. Finally, we will complete this full integration of Bulgaria into the European family" - this was stated by the Chairman of the Board of Directors of the Association of Industrial Capital in Bulgaria (AICB) Rumen Radev in the special multi-platform project of Bulgaria ON AIR "The Future: The Labor Market and the Euro", which was broadcast on October 6 on the airwaves, websites www.dnes.bg, www.bgonair.bg and the television's social media networks.
According to him, once we become part of the world's first currency, we are not replacing our own monetary unit and losing sovereignty, but we have our own common currency. According to Radev, it is important to be part of the huge market where the main currency is our monetary unit - the euro. He clarified to the show's host Kalina Donkova that our incomes do not depend on which organization we have joined.
"Our incomes depend on economic activity, on productivity, on the efficiency of the economy. Bulgaria has a high share of industry in gross domestic product. The share of services is also not low. We expect that the better investment climate will provoke investments and jobs in sectors with higher added value. There will be restructuring of the economy", explained the Chairman of the Board of Directors of AICB and clarified that employees must be highly qualified.
Bulgaria has the most intensive growth in increasing wages, Radev emphasized and identified the lack of personnel as the main problem. According to him, part of the problem lies in unfavorable demographics. "Currently, we have about 2.2 million working employees in the country. Qualification is key. We have set education as a priority", he concluded.
The Institute for Market Economics (IME) reports a decline in employment among young people and low-skilled workers. This is also shown by the data of the National Statistical Institute for the second quarter of the year. "The challenges are in several main directions. If we start with the group of economic challenges, this is the trend of constant growth in wage and labor costs, without a direct link to productivity", commented Anna Pancheva, Head of "Human Resources" at Kaufland Bulgaria. Secondly, she highlighted demographic challenges.
"All trends indicate a significant shortage in specific sectors and a real inability of businesses to meet their needs. This part is related to about 180,000 registered unemployed at the moment, with unemployment in our country being almost 2.5-3% below the European average. For the large cities, it clearly states that there are no unemployed," explained Pancheva on Bulgaria ON AIR.
According to her, the third group of challenges is geographical, adding that there are regions that are moving at different speeds. According to Pancheva, as we transition to the Eurozone, greater transparency will be initiated, which is a positive direction.
"Let's imagine that education and employers are the two parents of what will be born at the output of the education system. They need to work in sync to achieve good results," commented the rector of the University of Economics - Varna, Prof. Evgeni Stanimirov, in "The Future: The Labor Market and the Euro".
The Deputy Rector for International Activities of the Technical University - Sofia, Prof. Eng. Lidia Galbova, said that the university has long-standing traditions regarding cooperation with industry. "We partner with companies, both from Bulgaria and world-renowned ones from almost all sectors of industry," she added.
According to her, in recent years there has been an increased interest from business itself in the educational programs offered by the Technical University in Sofia. "Education, day by day, especially higher education, deepens the link between education and business organizations. The labor market deficit is related to specific shortages of certain personnel. This is related, on the one hand, to the outflow of applicants in the last 10 years from specialties related to engineering sciences," said in turn the rector of the Higher School of Telecommunications and Posts, Prof. Dr. Miglena Temelkova, on Bulgaria ON AIR "The Future: The Labor Market and the Euro".
Artificial Intelligence
"The market is becoming so dynamic with the advent of artificial intelligence," noted Prof. Stanimirov. "Artificial intelligence has changed the dynamics. It is much faster and we must seek new adequate solutions," agreed Prof. Eng. Galbova. According to Prof. Stanimirov, Bulgaria is in last place in terms of innovative activity in Europe. He emphasized that the budget should take care of the welfare of people in the country.
More than the discussion "The Future: The Labor Market and the Euro" on Bulgaria ON AIR can be found on bgonair.bg.
Partners of "The Future: The Labor Market and the Euro" are:
Technical University – Sofia, University of Economics – Varna, Higher School of Telecommunications and Posts, Kaufland Bulgaria.
bloombergtv.bg
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