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Invest Bulgaria News Directory
Bulgarian Economic News
(351 Bulgarian Economic News Stories Found)

  FEATURED NEWS  ;
BULGARIA DELAYS EURO ADOPTION BY TWO YEARS AT LEAST

BULGARIA DELAYS EURO ADOPTION BY TWO YEARS AT LEAST
(13/07/2012)

Topics: Economy      

Bulgaria's finance minister, who was initially targeting rapid accession to the euro zone, has confirmed the country is in no hurry to adopt the single currency. "We will not make any move toward the switchover in the next two years," Simeon Djankov told reporters in Vienna on Thursday. The statement is in line with the opinion of local analysts, who have tried to tone down the cabinet's enthusiasm for adopting rapidly the common European currency, saying it makes more sense for the...


BULGARIA'S CURRENCY BOARD IS SUPER STABLE
(12/01/2013)

Topics: Economy      

Bulgaria's Currency Board Is Super Stable (Sofia, Jan 12) - "The currency board functioning in Bulgaria is super-stable," the monthly analysis of Raiffeissen Bank Bulgaria reads. The experts have calculated that at the end of November 2012 the currency board's reserves amount to 15.1 billion euro, which is an increase by 2.2 million euro from a month ago. The board's reserves have increased by 1.9 billion euro (14.4%) year-on-year, which is a surplus of about 89% to the minimum...


EBRD IMPROVES BULGARIA ECONOMIC GROWTH FORECAST
(21/01/2013)

Topics: Economy      General

The European Bank for Reconstruction and Development has revised upwards its forecast for Bulgaria's economic growth in 2013 from 1.7% to 1.9%. The bank cut its forecast for economic growth in October last year from 2.5% in the previous report published in May to 1.7%, citing slumping exports. "Recovery is expected to continue to be modest in Bulgaria into 2012, due mainly to sluggish export demand. Growth in 2012 is likely to have ended up at around 1% only, with a modest forecast...


21.8% TURNOUT IN BULGARIA'S NUCLEAR REFERENDUM, 61% SAY 'YES' - POLLSTER
(27/01/2013)

Topics: Economy      Renewable Energy

A total of 21% of the eligible voters cast their votes in Bulgaria's nuclear energy referendum on Sunday, according to data from the 100% completed parallel vote count by polling agency Alpha Research. The agency said this meant about 1.4 million voters cast their votes in Bulgaria on Sunday; of those, 61% voted in favor of the construction of a second nuclear power plant, and 39% voted against. The Bulgarian citizens were supposed to answer "yes" or "no" to the following question:...


BULGARIA FINMIN: PES LEADER MUST RESIGN OVER REFERENDUM
(27/01/2013)

Topics: Economy      Renewable Energy

PES and Bulgarian Socialist Party chair Sergey Stanishev should resign over the outcome of Sunday's referendum on nuclear energy in Bulgaria, stated Minister of Finance Simeon Djankov. As results from exit polls come in, political leaders have engaged in a heated battle of interpretations on the outcome. Some 60% of ballots cast answered positively to the referendum question - whether Bulgaria needs a new NPP - the position supported by the Bulgarian Socialist Party. The turnout is...


BULGARIAN EX-EU COMMISSIONER PROPOSES MORATORIUM ON BELENE NPP
(02/10/2012)

Topics: Economy      Renewable Energy

The Bulgarian government should impose a moratorium on the Belene NPP project until an overall energy strategy is drafted, according to Meglena Kuneva, former EU Commissioner and leader of the Bulgaria for Citizens party. She says that the fact that the center-right ruling party GERB and the Bulgarian Socialist Party (BSP) have reached consensus on the matter raises suspicion. Kuneva suggests that the actual goal of the referendum is to tie the next government down to a...


BULGARIAN RIGHT WING CHALLENGES BELENE NPP REFERENDUM
(05/10/2012)

Topics: Economy      Renewable Energy

The right-wing Blue Coalition has requested from Bulgarian President Rosen Plevneliev and Chief Prosecutor, Boris Velchev, to ask the Constitutional Court to elaborate on the upcoming referendum on the fate of the Belene Nuclear Power Plant project. The Blues insist the Court must have a say in explaining the law before the Parliament passes the decision, the Bulgarian online news agency Dnevnik reports. According to the law, the Constitutional Court must act on the request of at least...


BULGARIAN RIGHT-WINGERS: N-PLANT REFERENDUM IS PROVOCATION
(12/10/2012)

Topics: Economy      Renewable Energy

The upcoming referendum on the fate of Bulgaria's Belene Nuclear Power project is a provocation made by the Bulgarian Socialist Party (BSP), according to the right-wing Blue Coalition. "In our opinion, the referendum is a deliberate provocation made by BSP," Blue Coalition co-chair Martin Dimitrov told reporters on Friday. According to Dimitrov, the left wingers are fully aware that the question they have posed for the referendum is anti-constitutional. As the Blue Coalition has pointed...


BULGARIAN PRESIDENT CALLS BELENE NPP CONSULTATIONS
(12/10/2012)

Topics: Economy      Renewable Energy

Bulgarian President Rosen Plevneliev is holding Friday political consultations for the upcoming referendum on the fate of the project to build a second Nuclear Power Plant in the Danube town of Belene. Plevneliev is convinced that the referendum is a test for democracy and must be held. The consultations will include parliamentary represented political parties in an attempt to reach consensus on the wording of the question to be asked. They will be held in the Presidential building,...


BULGARIAN RULERS: REFERENDUM TO PROVE N-PLANT'S FUTILITY
(19/10/2012)

Topics: Economy      Renewable Energy

The upcoming referendum on the fate of Bulgaria's Belene nuclear power plant will prove that the project is pointless, according to Interior Minister Tsvetan Tstevatov. On Friday, Tsvetanov reiterated that the former socialist-led three-way coalition would have fulfilled the project if it was favorable for Bulgaria. "They had the executive power, they had the legislative power, they had the presidential power...but they knew what the dangers were," he told reporters, referring to the...


BULGARIAN REFERENDUM TO BE ORGANIZED AS GENERAL ELECTION
(04/11/2012)

Topics: Economy      Renewable Energy

The vote in the January 27, 2013, national referendum on development of atomic energy in Bulgaria will be organized in the same manner as any election. The spokesperson of the Central Electoral Commission, CEC, Bisser Troyanov, explained at a press conference that the referendum will be held in adherence to the Election Code since the Act for Direct Participation of Citizens in the Rule of the State and in Local Rule was too "scarce" without any detailed regulations. The voters will...


BULGARIA GOING FOR 7TH KOZLODUY NPP REACTOR, ECONMIN SAYS AFTER REFERENDUM
(27/01/2013)

Topics: Economy      Renewable Energy

Bulgaria will "logically" go for building a seventh reactor at its existing NPP in Kozloduy, Bulgarian Economy Minister Delyan Dobrev commented Sunday on the results of the nation's referendum on the construction of a second nuclear plant. Bulgaria's referendum, which had a voter turnout of only 22%, with 61% voting in favor of the construction of a second nuclear power plant in Bulgaria, while 39% voted against, implicitly referred to the project for the construction of the 2000-MW Belene...


CEO OF BULGARIA'S KOZLODUY NPP: UNIT 7 MAY BE FUNCTIONAL BY 2020-2022
(28/01/2013)

Topics: Economy      Renewable Energy

Valentin Nikolov, CEO of the Kozloduy NPP, has said that a seventh unit at the plant could be functional by 2020 or 2022. In a Monday interview for Nova TV, he suggested that the project for building a seventh unit at the nuclear power plant in Kozloduy had already attracted serious investor interest but he did not disclose details. He suggested that there was already investor interest in the project but did not disclose details. "In 20 years' time, when the exploitation deadline of...


BULGARIA'S EDUCATION MINISTER RESIGNS
(28/01/2013)

Topics: Economy      Renewable Energy

Bulgaria's Education Minister, Sergey Ignatov, has resigned from the post. Ignatov has submitted his resignation on the request of Prime Minister, Boyko Borisov, the Cabinet's press office informs Monday. The news broke just hours after the resignation of the manager of Bulgaria's embattled and scandal-ridden Scientific Research Fund, Hristo Petrov. Petrov's resignation was also immediately accepted by Borisov. The manager deposited his resignation after it emerged that a probe of...


BULGARIA CHIEF PROSECUTOR EMBARKS ON 1ST VISIT TO BRUSSELS
(28/01/2013)

Topics: Economy      Renewable Energy

Bulgaria's new Chief Prosecutor Sotir Tsatsarov will make his first visit to Brussels accompanied by Interior Minister Tsvetan Tsvetanov and Justice Minister Diana Kovacheva. Tsatsarov will meet with EC Secretary-General Catherine Day and OLAF Director General Giovanni Kessler on January 29, according to the press office of Bulgaria's prosecuting authority. Meanwhile, Tsvetanov will take part in a high-level international conference on countering violent extremism organized by Home...


BULGARIAN PM SACKS HEAD OF ENERGY WATCHDOG
(28/01/2013)

Topics: Economy      Renewable Energy

Bulgarian Prime Minister, Boyko Borisov, is proposing to the Cabinet to dismiss from the post the Chairman of the State Commission for Energy and Water Regulation, DKEVR, Angel Semerdzhiev. The proposal is connected with the delay and lack of a number of administrative acts from the Electricity and Gas Directives, requested by the European Commission. It was reported last Thursday that EC is referring Bulgaria, Estonia and the United Kingdom to the Court of Justice of the European Union...


CEO OF BULGARIA'S KOZLODUY NPP: UNIT 7 MAY BE FUNCTIONAL BY 2020-2022
(28/01/2013)

Topics: Economy      Renewable Energy

Valentin Nikolov, CEO of the Kozloduy NPP, has said that a seventh unit at the plant could be functional by 2020 or 2022. In a Monday interview for Nova TV, he suggested that the project for building a seventh unit at the nuclear power plant in Kozloduy had already attracted serious investor interest but he did not disclose details. He suggested that there was already investor interest in the project but did not disclose details. "In 20 years' time, when the exploitation deadline of...


BBC: BULGARIA NUCLEAR VOTE 'INVALIDATED BY LOW TURNOUT'
(28/01/2013)

Topics: Economy      Renewable Energy

A controversial referendum on whether to build a new nuclear power plant in Bulgaria appears to have been invalidated by low turnout. An exit poll put turnout at around 20% - far below the 60% required for the poll, which was called on the basis of an opposition petition. The opposition Socialists want the centre-right government to reverse its decision not to build the plant. The poll has been seen as a barometer for elections later this year. It was also important as a measure of...


BULGARIA'S FINANCE MINISTER RECOMMENDS REFERENDUM ON MAJOR ENVIRONMENTAL TOPIC
(28/01/2013)

Topics: Economy      General

Bulgaria's next referendum should be on an important environmental topic, according to Finance Minister Simeon Djankov. In a Monday interview for Nova TV, he suggested that the next referendum could involve the statute of the Bulgarian Black Sea coast. Djankov informed that he had abstained from voting at the January 27 nuclear referendum because the issue required expert knowledge and could not be sold through a plebiscite. He claimed that the only good thing about Sunday's referendum...


AMENDMENTS TO BULGARIA'S ENERGY EFFICIENCY ACT PASS FIRST READING
(03/02/2013)

Topics: Economy      General

Bulgaria's Parliament has adopted at first reading amendments to the Energy Efficiency Act. The amendments initiated by the government were passed Friday with 79 votes in favor, 3 against, and 14 abstainees, according to reports of the Focus news agency. The amendments envisage drafting a national plan for increasing the number of nearly zero-energy buildings and the introduction of energy performance certificates of buildings and building components. During the discussion of the bill,...


BULGARIA SUCCUMBS TO EURO DEFLATION CURSE
(21/02/2013)

Topics: Economy      General

Another euro-pegged government defending an overvalued exchange rate bites the dust, a reminder that the underlying economic and social disaster across the Europe's Arc of Depression is still getting worse. Bulgarian prime minister Boiko Borisov resigned Wednesday morning after days of mass protests against austerity across the country. "I will not participate in a government under which police are beating people. Every drop of blood is a shame for us," he said. "Our power was handed to...


PROTESTERS CALL ON BULGARIAN PRESIDENT TO ELIMINATE CORRUPTION IN JUDICIARY
(21/02/2013)

Topics: Economy      General

Around 500 members of the Anti-mafia civic association are protesting in front of the President's Office in Sofia, prior to the anticipated official statement of Rosen Plevneliev on the situation in the country in the aftermath of the collective resignation of the government. According to reports of the Bulgarian National Radio (BNR), the people are voicing their discontent with the judiciary, saying that the head of state is currently the only guarantor of statehood in the...


EU AGRICULTURE MINISTERS SEEK TO DEAL WITH HORSEMEAT CRISIS
(25/02/2013)

Topics: Economy      General

The European Union's Agriculture Ministers have gathered in Brussels for talks that are focused on the growing horsemeat scandal in Europe. Authorities across Europe have started doing random DNA checks after traces of horse meat recently turned up in frozen supermarket meals such as burgers and lasagna. The scandal erupted last month when horsemeat was found in some beef meals and burgers in the UK and Ireland. Since then, supermarkets across Europe have had to withdraw affected...


BULGARIAN MPS RUSH TO DECIDE FATE OF BELENE NPP
(23/02/2013)

Topics: Economy      General

The Bulgarian Parliament will hold an emergency sitting Tuesday to decide on the fate of the project to build a second Nuclear Power Plant in the Danube town of Belene. The reason for the above are the results of the January 27 referendum on the development of nuclear energy in Bulgaria through the construction of a new nuclear power plant, which showed that the issue would be conclusively decided by Bulgaria's Parliament. Under the law, the recent referendum results impose for the Belene...


VARNA PROTESTERS CLASH WITH POLICE
(17/03/2013)

Topics: Economy      General

Clashes with the police marked Sunday the protest rally in Bulgaria's Black Sea city of Varna. Bulgarians across the country staged once again demonstrations against high utility bills, monopolies, poverty, economic stagnation, corruption, and the political model of ruling the country after the fall of the Communist regime in 1989. The rallies, however, did not bring together as many people as previous weekend marches. The largest one was once again held in Varna where 2 000 (compared...


BULGARIA TO HOLD INTERNATIONAL AUDIT OF ENERGY SECTOR
(17/03/2013)

Topics: Economy      General

The Bulgarian government will within 10 days appoint an international auditor to review the country's energy sector, stated caretaker Minister of Regional Development Ekaterina Zaharieva. "We need a full financial analysis of everyone in the energy sector. We will work in full cooperation with the European Commissions, so that no doubts be thrown on the final report," said Zaharieva. The minister added that this would bring full transparency in the sector, something requested by numerous...




MORE NEWS
BULGARIA'S REVENUE AGENCY TO SELL SEIZED PROPERTIES

BULGARIA'S REVENUE AGENCY TO SELL SEIZED PROPERTIES
Source: novinite.com - (15/09/2010)

Topics: Economy      Real Estate

The Bulgarian National Revenue Agency (NAP) has announced tenders in some cities for properties that have been seized. The NAP office in the Bulgarian Black Sea city of Burgas has announced that it is selling a sauna, gym, cafe, underground garage, three apartments and two studios, all located in the Bansko resort. The properties have been owned by a construction company from the Black Sea city of Nessebar, which has a debt of more than BGN 2 M to the National Revenue Agency (NAP). The...


BULGARIA'S EXPORT TO EU UP BY 17% IN 2010 H1

BULGARIA'S EXPORT TO EU UP BY 17% IN 2010 H1
Source: novinite.com - (12/09/2010)

Topics: Economy      

Bulgaria's export to the other EU member states registered a substantial growth in the first half of 2010. In January-June, it grew by 17.4% reaching BGN 8 B. At the same time, Bulgaria's import from the EU was BGN 9.9 B, an increase of 2.8%. Thus, Bulgaria's trade deficit with the rest of the EU was BGN 1.9 B in the first half of 2010. In June, the deficit was BGN 257.5 M as Bulgaria's export to the EU grew by 36.2% year-on-year reaching BGN 1.6 B, while its import increased by 9.5%...


EXPENSES FOR EMPLOYMENT IN BULGARIA UP BY 8,2% Q2

EXPENSES FOR EMPLOYMENT IN BULGARIA UP BY 8,2% Q2
Source: novinite.com - (12/09/2010)

Topics: Economy      

Bulgarian employers' expenses for employment have increased by 8,2% in the second quarter of 2010 in comparison to the same period last year, statistics showed. According to data from the National Statistics Institute on payment per hour to employees, the amount in the industry has increased by 5,6%, in the services – by 10,3% and in construction – by 7,9%. The biggest increase of payment has been registered in the sector for creation and distribution of information and creative products...


WEF: BULGARIA RISES TO SPOT 70 IN COMPETITIVENESS LIST

WEF: BULGARIA RISES TO SPOT 70 IN COMPETITIVENESS LIST
Source: novinite.com - (09/09/2010)

Topics: Economy      

Bulgaria's competitiveness slightly improved from last year but continues to lag behind most Central and Eastern European countries and EU member states, an annual ranking by the Switzerland-based World Economic Forum showed. The country ranked 70th out of 139 economies in the Global Competitiveness Report 2010-2011, better than its 76th place in last year's report. But most Central and Eastern European countries continue to outperform Bulgaria – Romania (63), the Czech Republic (36),...


BULGARIA, ROMANIA MULL JOINT HYDROPOWER, NABUCCO EFFORTS

BULGARIA, ROMANIA MULL JOINT HYDROPOWER, NABUCCO EFFORTS
Source: novinite.com - (07/09/2010)

Topics: Economy      

Bulgarian and Romanian government representatives met in Bucharest and reached agreements on a number of joint energy pursuits, reported Mediafax.ro quoting the Romanian Ministry of Economy. According to a release from the Romanian Ministry of Economy, Trade and Business Environment, the meeting took place in Bucharest end of last week and included Romanian state secretary in the Ministry of Economy Constantin Claudiu Stafie and Bulgarian deputy Minister of Economy and Energy Mariy Kossev,...


BULGARIA TO UP SOME TAXES TO BOOST 2011 REVENUE

BULGARIA TO UP SOME TAXES TO BOOST 2011 REVENUE
Source: novinite.com - (07/09/2010)

Topics: Economy      

The Bulgarian Ministry of Finance has published proposals for adjustments in the tax system in a bid to increase revenue for the 2011 state budget. The proposals, posted at the Ministry's website, do not involve an overall increase in taxation rates, but introduces greater levy burdens for some cases. Key proposed innovations include a unified VAT for the tourist sector, a new offshore tax, as well as increases in the rates for fuels and some tobacco products. Some of the amendments to...


FINANCIAL APPRAISAL DEAL BRINGS NABUCCO CLOSER TO SECURING FUNDING

FINANCIAL APPRAISAL DEAL BRINGS NABUCCO CLOSER TO SECURING FUNDING
Source: novinite.com - (07/09/2010)

Topics: Economy      Construction

The shareholders and project company of Nabucco have singed a mandate letter with three international financial institutions for the appraisal of the future natural gas transit pipeline, which has been hailed as a key step towards its successful construction. The signing of the mandate letter of the shareholders and Nabucco Gas Pipeline International with the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and IFC - a member of the World Bank...


BULGARIA TO GET BGN 41 M DIVIDEND FROM POWER UTILITY CEZ

BULGARIA TO GET BGN 41 M DIVIDEND FROM POWER UTILITY CEZ
Source: novinite.com - (06/09/2010)

Topics: Economy      

The Bulgarian government is going to receive a dividend of BGN 41 M from the Czech-owned power utility CEZ Bulgaria. This has become clear Monday after a meeting of Bulgarian Prime Minister Boyko Borisov with Jan Vavera, regional manager of CEZ for Bulgaria, which was also attended by Minister of Economy, Energy, and Tourism, Traicho Traikov, and Deputy Environment Minister Evdokiya Maneva as well as the head of Bulgaria's State Commission for Energy and Water Regulation (DKEVR), Angel...


BULGARIA'S SOPOT WITH 'ULTRA MODERN' WATER PURIFICATION STATION

BULGARIA'S SOPOT WITH 'ULTRA MODERN' WATER PURIFICATION STATION
Source: novinite.com - (05/09/2010)

Topics: Economy      Waste Management

Bulgaria's Boyko Borisov opened a much-advertised station for purification of waste waters near the central town of Sopot. BGN 18 M were invested in the new facility, with BGN 4 M of these coming from the state budget, and the rest from EU Operational Program "Environment". Borisov declared that the purified water had better drinking qualities than the tap water in the entire region. The purification station will serve 12 000 people in Sopot. According to the Veselin Lichev, Mayor of...


BRUSSELS UPBEAT ECONOMIC FORECAST CHEERS BULGARIA

BRUSSELS UPBEAT ECONOMIC FORECAST CHEERS BULGARIA
Source: novinite.com - (02/09/2010)

Topics: Economy      

The European Commission has expressed optimism about the potential of Bulgaria's economy to rebound as officials figures confirmed that the eurozone economy grew by 1% between April and June. "Bulgaria does not threaten the stability of the European economy and the European Commission is upbeat about its recovery," Amadeu Altafaj, spokesman of the European Union Economic and Monetary Affairs Commissioner Olli Rehn, told the Bulgarian National Radio on Thursday. The statement followed the...


METAL AND ENERGY TRANSPORTERS RAISE INFLATION BY 9%

METAL AND ENERGY TRANSPORTERS RAISE INFLATION BY 9%
Source: Klassa.bg - (30/08/2010)

Topics: Economy      

The National Statistical Institute (NSI) registered inflation in the manufacturing industry of 9 % on an annual basis in July. This is the largest increase in the index since the beginning of 2009 when NSI implemented a new methodology for its calculations. The main reasons for the jump in the index are the rise of 15.1% in the extractive industry, the growth of 12.5% in manufacture and the distribution of electric and heat power, as well as the 6.9% increase in the processing industry. For...


MOODY'S RATES BULGARIA WITH POSITIVE OUTLOOK

MOODY'S RATES BULGARIA WITH POSITIVE OUTLOOK
Source: Novinite.com - (27/08/2010)

Topics: Economy      

Bulgaria is the only country in Europe and Middle Asia with a positive outlook of sovereign credit rating, Moody's rating agency has announced. Moody's Investor Service published Friday the August edition of the European Sovereign Outlook, which explains the perspectives on sovereign ratings in Europe. According to the report, Bulgaria's assessment reflects the view of the agency that the country has a potential to reach a higher level of creditworthiness on the scale of investment...


BULGARIA UPS RENEWABLE ENERGY PRODUCTION

BULGARIA UPS RENEWABLE ENERGY PRODUCTION
Source: novinite.com - (26/08/2010)

Topics: Economy      Renewable Energy

Bulgaria’s energy production from renewable sources by the end of 2010 will be 3 times more than the one in 2009, according to Plamen Dechev from the State Commission for Energy and Water Regulation (DKEVR) In 2009, Bulgaria produced 800 thousand MGWH from green sources while for the first six months of 2010, this production has already reached 1 million MGWH. According to the expert, in the next few years the share of renewable sources in energy production can reach 17% to 20%. Currently...


THREE BUYERS BID FOR A PLOT IN THE DOBRUDJA REGION

THREE BUYERS BID FOR A PLOT IN THE DOBRUDJA REGION
Source: klassa.com - (25/08/2010)

Topics: Economy      Real Estate

The demand for land in the Dobrich region considerably exceeds selling offers this summer but the reason is not only the relatively high price of wheat, the Regional Association of Real Estate Agencies (RAREA) claims, BTA (Bulgarian Telegraph Agency) reported. “At least three potential buyers bid for a land plot,” said Nelly Vassileva, manager of a real estate agency. According to her, agriculture in the region has not been affected by the economic crisis, landowners get pretty good incomes...


CONSTRUCTION IN BULGARIA SHOWS SIGNS OF RECOVERY

CONSTRUCTION IN BULGARIA SHOWS SIGNS OF RECOVERY
Source: novinite.com - (23/08/2010)

Topics: Economy      Construction

Construction permits issued in Bulgaria in the second quarter of 2010 are up compared to the first quarter, but down on annual basis. The data was published by the National Statistics Institute (NSI) Monday. 1 441 residential permits have been issued between April and June 2010 for a total of 3 933 apartments. Compared to January – March, 2010, this is an increase of 46% and 41% respectively. On annual basis, compared to the second quarter of 2009 there is a respective reduction of 21%...


WORLD BANK PRESIDENT HEAPS HIGH PRAISE ON BULGARIAN GOVERNMENT

WORLD BANK PRESIDENT HEAPS HIGH PRAISE ON BULGARIAN GOVERNMENT
Source: novinite.com - (09/08/2010)

Topics: Economy      

President of the World Bank Robert Zoellick praised the Bulgarian government for successfully tackling the global economic crisis on his official visit to the country Monday. “I came hear to learn and listen,” said Zoellick, adding that in the situation of heavy economic crisis Bulgaria is doing “not worse than most” and that achieved results are manifest for all to see. The World Bank president stated that his visit comes at a crucial time for the relations between the institution and...


BULGARIA TO RECEIVE GREEN ENERGY FUNDING FROM NORWAY

BULGARIA TO RECEIVE GREEN ENERGY FUNDING FROM NORWAY
Source: novinite.com - (02/08/2010)

Topics: Economy      Renewable Energy

Norway will give Bulgaria financial support for projects focused mostly on environment and energy efficiency issues. Bulgaria will receive the EUR 126,6 M in the next four years. The Norwegian help for Bulgaria is part of a new agreement between the EU and the countries from the so-called European Economic Area (EEA), which include Norway, Iceland and Liechtenstein. The goal is to decrease the social and economic differences in Europe. In the fall, the Bulgarian government will sign...


BULGARIA SEES GROWTH OF HOUSEHOLD SAVINGS, NON-PERFORMING LOANS

BULGARIA SEES GROWTH OF HOUSEHOLD SAVINGS, NON-PERFORMING LOANS
Source: novinite.com - (23/07/2010)

Topics: Economy      

The savings of the Bulgarian households reached BGN 25.5 B in June 2010, which is a year-on-year increase of 13.4%. According to latest data of the Bulgarian National Bank, the household deposits grew by BGN 218 M in June compared with the previous month. Experts have attributed the increase of the savings to the fact that most Bulgarians are still afraid to spend, and are restricting their consumption. The company deposits in Bulgaria dropped by 1.3% in June year-on-year, down to BGN...


BULGARIA RECORDS THIRD BIGGEST DROP IN COMMERCIAL RENT PRICES

BULGARIA RECORDS THIRD BIGGEST DROP IN COMMERCIAL RENT PRICES
Source: novinite.com - (13/07/2010)

Topics: Economy      Real Estate

Bulgaria's capital Sofia ranks third in the EU for drop of rent prices for outlets on commercial streets for the past three years, a research shows. The research by the consultant company CB Richard Ellis (CBRE) showed that in the past three years the rents in Sofia have gone down by 38,46%. In the last year the drop has increased to 27,27% with a drop of 11,11% only for the past three months. According to another consultant company, Colliers International, the opening of new shopping...


GLASS RECYCLING PLANT TO OPEN NEAR SOFIA

GLASS RECYCLING PLANT TO OPEN NEAR SOFIA
Source: novinite.com - (09/07/2010)

Topics: Economy      Waste Management

Bulgaria's Environment Minister Nona Karadzhova has broken the ground for the construction of a glass recycling plant in the village of Ravno Pole near the capital Sofia. The Ecopack, a joint stock company that does not distribute its profit formed in 2004 by 18 Bulgarian and foreign firms, is going to invest BGN 3.8 M in the glass recycling facility. The plant is going to use empty bottles from around Bulgaria; the recycled glass material will be provided to two glass producing...



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