Women Gain Ground in Bulgarian Business Leadership, But Full Equality Still Distant – Novinite.com

A recent study conducted by the Bulgarian Stock Exchange (BSE) reveals that 60% of publicly listed companies in Bulgaria have women in their governing bodies. However, only 3% are entirely led by women, and 14% have female CEOs.

The survey, which covered over 300 companies traded on the exchange, highlights a gradual but consistent increase in female representation at leadership level.

Each year, the BSE participates in the global initiative “Ring the Bell for Gender Equality”, organized by the World Federation of Exchanges, in cooperation with the UN Global Compact and UN Women. In 2025, the exchange also adopted the UN’s official message: “Rights. Equality. Empowerment. For all women and girls.”

According to the BSE, gender equality could boost global GDP by up to $12 trillion and increase productivity in some countries by as much as 35%. Yet, women remain significantly underrepresented in finance—only 12% of fund managers globally are women.

Data from the Bulgarian UN Global Compact Network warns that, at the current pace, it could take 152 years—or nine generations—to close the global economic gender gap.

The BSE’s Executive Director, Manyu Moravenov, commented that the upward trend in women’s participation sends a clear message: equality is not only achievable—it adds real value to business performance.

Official statistics support this trend. The 2023 Gender Equality Report, approved by Bulgaria’s caretaker government in October 2024, shows that 68,000 women held leadership roles—3,200 more than in 2022. The share of women on corporate boards rose from 14.8% in 2022 to 18.3% in 2023.

Bulgaria is also pursuing legislative measures to further this progress. Amendments to the Gender Equality Act, proposed by the Ministry of Labor and Social Policy and discussed publicly in November 2024, set a target of at least 33% representation for the underrepresented gender on the boards of public companies by June 30, 2026. This share must not exceed 49%.

Across the EU, women held 34.8% of managerial positions in 2023, up from 31.8% in 2014, despite making up nearly 46.4% of the workforce. Countries like Sweden (43.7%), Latvia (42.9%), and Poland (42.3%) lead in female managerial representation, while Luxembourg (22.2%), Croatia (23.8%), and Czechia (27.4%) lag behind.

Since 2014, 20 EU countries have seen growth in female leadership. Cyprus (+10.5 points), Malta (+8.3), and Sweden (+6.5) showed the greatest increases. In contrast, Hungary, Slovenia, and Lithuania reported declines.