BAS economists: BGN 1.63 billion per year is the total financial effect of Bulgaria’s accession to Schengen
Five specific benefits with a total financial effect of BGN 1.63 billion per year will receive Bulgaria from joining the Schengen area by land. This is according to the assessment of the scientists from the Economic Research Institute at BAS in a special study conducted in early 2024 on the initiative of the Ministry of Economy and Industry on the economic impact of the forthcoming decision for Bulgarian citizens to travel freely between the individual member states without being subject to border controls. The biggest benefit is for heavy freight transport as well as for producers and exporters of goods whose direct costs are estimated at BGN 845 million. The foregone benefits of heavy goods transport amount to BGN 545 million. The direct and potential [...]