Asarel-Medet JSC in Bulgaria's Economy
Asarel-Medet JSC is one of the largest industrial investors in Bulgaria and consistently ranks among the country's top 100 non-financial enterprises.
The company is among the top three employers in the mining industry. Asarel-Medet JSC provides employment to nearly 1,200 people who represent 6.1% of the total workforce in the country's mining sector and 18.6% of those employed in non-ferrous and precious metals mining.
Economic Impact of the Asarel Group
The total impact of the Asarel Group's operations on the domestic demand within the Bulgarian national economy between 2014 and 2023 amounted to 6.2 billion BGN. This figure includes nearly 4 billion BGN in direct impacts on related production and services and on the household disposable income. Indirect or secondary impacts along the value chain, involving domestic suppliers and contractors, along with the additional effects of employee consumption accounted for a further 2.2 billion BGN.
The Asarel Group which consists of Asarel-Medet JSC, its subsidiaries and associated companies is among the largest taxpayers in Bulgaria. According to estimates of the Institute for Market Economics, the Group’s total tax contribution over the last decade amounted to 440 million BGN, including corporate tax payments, concession fees and social security contributions and taxes.
Regional Impact by the Asarel Group’s Operations
The Asarel Group directly employs over 2,000 people who represent 25.5% of the total workforce and 29.4% of private-sector employees in the municipality of Panagyurishte.
The municipality of Panagyurishte consistently ranks among the top 10 municipalities in Bulgaria in terms of their local wage levels. The Asarel Group accounts for more than half of the total gross labor income earned by all employed persons in the municipality.
The municipality of Panagyurishte ranks in the country's top 10 for economic value added per capita and in the top 20 for financial autonomy which ensues from the local economic profile and the contribution made by Asarel-Medet JSC.
Asarel-Medet JSC is the largest taxpayer in the Municipality of Panagyurishte which contributed with over 43% of the municipality's own-source revenue in 2024. Asarel-Medet JSC’s social investments have transformed the quality of life and created new opportunities for the people of Panagyurishte Municipality by fostering the development of education, tourism potential, museum activities, sports and healthcare.