The parliament has approved amendments in local legislation to change the holiday schedule for Bulgaria.
Amendments in the labour code will reflect a new holiday schedule for Bulgaria that is applicable as of 1 January 2017. It provides that when public holidays fall on Saturday and/or Sunday, with the exception of Easter, the first or the first two following working days will be holidays. As a result, the updated Bulgarian holiday calendar for 2017 will be as follows:
2 January (observing 1 January);
8 May (observing 6 May);
27 December (observing 24 December).
The changes aim to overcome the shortcomings of the rearrangement of holidays and working days by decision of the government, according to which an additional working Saturday used to be given to compensate for each additional holiday. As per the new approach the holiday schedule will be known to investors in advance which will provide for better predictability of their investment activities in the Bulgarian market.