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 has registered an increase in its foreign direct investment in January-May 2012 year-on-year, according to the latest data of the Bulgarian National Bank released on Monday.
According to the Bulgarian National Bank's preliminary data, the foreign direct investment in Bulgaria for January - May 2012 increased by EUR 473.8 M (1.2% of GDP), compared to an increase of EUR 72.2 million (0.2% of GDP) for January – May 2011.
Bulgaria's attracted Equity Capital (acquisition/disposal of...
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...
Wall Street legend and highly successful international investor, author and commodities expert, Jim Rogers has said he is considering investing in Bulgaria.
Bulgaria is among the few countries, in which he is considering investing right now, since they have made the most improvement since his latest trip around the world, the billionaire, currently based in Singapore, said in an interview for Gold Radio Cafй.
He joined the broadcast for a brief discussion on his new book "Street Smarts:...
Italian companies may be attracted in privatization projects, including for tourist sites, as well as concessions agreements and modernization schemes for airports, and construction and reconstruction of road and railway infrastructure in Bulgaria, according to Minister Bozhidar Lukarski.
Speaking Tuesday at the opening of an economic forum titled “Bulgaria and Italy: Together for Achieving Growth”, Lukarski pointed out that the trade and economic cooperation between Bulgaria and Italy...
“The opportunities OP Environment provides in the previous and the new programme periods establish prerequisites for a huge volume of work on designing and construction of ecological infrastructure as well as possibilities for the state to tackle challenges,“ said Ivelina Vasileva, Bulgarian Minister of Environment and Water, speaking at an annual conference themed “Strategic infrastructure and investments – Bulgaria and the Western Balkans“, FOCUS News Agency reported.
“In the...
AS England's footballers prepare to take on Bulgaria in the Euro 2012 qualifiers tomorrow, we bring you 20 fascinating facts you never knew about the country...
1. Bulgarians shake their heads to mean yes and nod for no.
2. National instrument is the bagpipes – called the gaida.
3. Bulgarians invented the first electronic computer, digital watch and car air bag.
4.Most famous footballers are Hristo Stoichkov, now 45 – highest scorer at the 1994 World Cup – and Manchester...
Industrial establishments plan to cut investments by 30.4% on an annual basis in 2015, according to data provided by Bulgaria’s National Statistical Institute (NSI).
According to a survey conducted among industrial establishments in March 2015, expenditure on acquiring fixed tangible and intangible assets in industry increased by 3.9% on an annual basis in 2014.
Industrial establishments expect a decrease in investments by 30.4% in 2015 as compared to 2014.
The private sector’s...
Bulgaria’s Tourism Minister Nikolina Angelkova boasted about a successful 2014/2015 winter season (December-February), stressing that the period had brought growth of over 9%, with the number of tourists increasing by nearly 80 000.
In an interview for Trud daily, Angelkova made clear that tourism revenues had increased by BGN 34 M during the past winter season.
She said that the number of Turkish visitors had gone up by nearly 30% as a result of the simplification of the visa...
Best Bulgarian male tennis player Grigor Dimitrov has qualified for the second round of the Monte-Carlo Rolex Masters doubles.
Dimitrov and his Belarusian partner Max Mirnyi defeated Croatia’s Marin Draganja and Finland’s Henri Kontinen 6:1, 6:3 in less than an...
”We have to complete the second and third stage of the Largo construction in the frames of 200 days,” said Eng. Rosen Koleliev, manager of a firm from the construction sector, speaking for FOCUS News Agency.
”This is a project which entered the stage of construction with difficulty. It is envisaged there will be a zone for displaying archaeological [findings], a zone where dismounted archaeological structures will be exhibited, a space for stage activity, zones for collections,” Eng....
Bulgarian Minister of Economy Bozhidar Lukarski gave Wednesday an interview for Radio FOCUS, commenting on burning topics and announcing some news.
"Legislative amendments will reduce by about 30% the administrative burden on business. The business will save BGN 385 million through these amendments," he said.
"This will reduce [the burden] for businesses to a great extent," the minister was explicit.
He specified there would be amendments to 16 laws, 130 regulatory acts, and 120 acts...
Sofia. Eva Paunova, Bulgarian MEP from the Group of the European People's Party, will take part in the traditional lunch organised by the Council of the Women in Business in Bulgaria, the press office of the Citizens for European Development of Bulgaria (CEDB) party announced.
In the frames of the working lunch Ms Paunova will introduce the council members to her priorities and activities and will exchange ideas and good practices.
The Council of the Women in Business in Bulgaria was...
HP announced Tuesday a collaboration with Microsoft for solutions targeted at the automotive, financial services and public sector verticals.
According to HP, its business process as-a-service (BPaaS) solutions for Microsoft Dynamics enhance users' mobile and social experiences with customers.
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According to the preliminary data of Bulgaria’s National Statistical Institute, in February 2015 the index of production in sector ‘Construction’ calculated on the base of seasonally adjusted data was 0.3% above the level of the previous month.
In February 2015 working day adjusted data showed a decrease by 1.8% in the construction production, compared to the same month of 2014.
In February 2015 the construction production, calculated from the seasonally adjusted data, was above the...
“I am happy that I witnessed the signing of this agreement,” US Ambassador to Bulgaria Marcie Ries said after the Bulgarian National Electricity Company (NEK) inked an agreement on changes to the long-term contracts with TPP AES Maritsa Iztok 1 and TPP Kontur Global Maritsa Iztok 3, FOCUS News Agency reporter said.
“These two companies together make the biggest American investment in Bulgaria. We hope that the signing of these agreements will contribute to the establishment of positive...
Sotir Tsatsarov, Prosecutor General of the Republic of Bulgaria, met Monday with Prime Minister Boyko Borisov. Both officials discussed the amendments to the Civil Code of Procedure, the press centre of the Prosecutor’s Office said.
Mr Tsatsarov introduced Mr Borisov to his stance on the draft bill:
The motives to the tabled draft bill say its aim is the establishment of a common approach of principle in determining the Prosecutor’s Office participation in civil court proceedings as well...
“After the financial crisis, it was the crisis in Ukraine. No one can choose their parents and neighbours,” Bulgarian Prime Minister Boyko Borisov said speaking at the first national discussion within the “Yes! To Bulgarian Economy” held in the capital city Sofia, FOCUS News Agency reporter said.
“You see what happened in Greece, Serbia, Macedonia, Albania and Romania. Life taught me to be patient. In the other countries, speaking of the freedom of the media, it refers to the...
”Over BGN 22 million was generated last year in the district of Smolyan due to nights spend in accommodation establishments, while over 22,000 people work in the sector in the entire Southern Central region,” said Bulgarian Minister of Tourism Nikolina Angelkova, speaking in district centre Smolyan at an off-site sitting of the Regions and National Infrastructure Development Council with the President’s Office themed “State policy on encouraging the economic activity in the poorly...
Deputy Mayor of Sofia, Todor Chobanov predicted growth of between 7% and 10% in Bulgaria's tourist sector this year, in a statement earlier this week.
The improved outlook comes on the back of Bulgaria's strengthening economy which recorded its first Q1 budget surplus since 2009, with Ђ128m in its public purse ripe for re-investment.
Bulgaria's winter sun resorts had a spectacular 2014, recording an increase in visitor numbers of 9.2% to the nation's ski slopes during the season,...
Sweden-based Trelleborg group said in Thursday it is acquiring the outstanding half of the shares in Trelleborg Sealing Solutions Silcotech Bulgaria OOD.
The Bulgarian operation has a production unit in Pernik, 40 km south of Sofia. Its main focus is the production of precision molded seals in liquid silicone rubber (LSR) for various industries including baby care and food processing.
The transaction, in which Trelleborg has utilized an option from 2011 to acquire the outstanding 50%...
Bulgaria plans to keep the Domestic Diplomatic Properties Agency ADIS in state ownership.
The government decided at its weekly meeting on Wednesday to ask Parliament to adopt legislative changes that will put ADIS on the list of companies that must remain state-owned.
ADIS is a full service real estate company, managing its own property portfolio of more than 100,000 square meters.
The proposed changes to the Privatisation Law will ensure Bulgaria’s continued capability to meet its...
The Bulgarian Development Bank (BDB) and the International Investment Bank (IIB) will cooperate in providing funds for Bulgarian business projects. This became clear after the two financial institutions signed a Memorandum of Cooperation in Sofia on Tuesday, the press office of the BDB informs. The memorandum governs the granting of syndicated loans to Bulgarian companies interested in developing their business and making new investments. According to the provisions of the memorandum, the two...
Sofia. Bulgarian Minister of Health Dr Petar Moskov will open the first sitting of the “Partnership for Health” initiative, which is provided under the Healthcare Goals – 2020 Concept, the press office of the ministry announced.
The event will take place at the head office of the Bulgarian Council of Ministers.
The following issues will be tabled for discussion at today’s forum:
- major and additional packages in the health insurance;
- transparent procedures and rules for the...
Bulgarian waste electrical and electronic equipment (WEEE) recovery company Eltechresource JSC has contracted Balcan Engineering to deliver a lamp recycling system.
The supplied MP4000 system features dual loading areas for both linear fluorescent lighting as well as whole and crushed lamps, with a capacity to process 1000-1500 linear tubes per hour.
During the recycling process, metal end caps and glass are separated and cleaned. A dust filter collects phosphor powder and fine glass...
“Wasser Berlin 2015 exhibition has managed to gain the reputation of the most prestigious world forum on water matters. I perceive the event as an excellent opportunity for all key factors in the water sector to directly exchange ideas, good practices, and solutions connected with drinking and waste water – a sphere indirectly influencing our whole life, which requires more and more attention,“ said Bulgarian Minister of Regional Development and Public Works Lilyana Pavlova, speaking at...
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