Bulgaria's Finance Minister Simeon Djankov will hand on Friday the budget draft for next year to parliamentary speaker Tsetska Tsacheva.
Bulgaria is planning to sell bonds amounting to EUR 1 B on the international market in 2011 to shore up its finances, according to a finance ministry draft paper.
Bulgaria aims to have a budget deficit of 2.5% of gross domestic product and a growth of 3.6% in 2011, according to the budget draft.
In budget 2011, financing is going up the most in the...
Bulgaria will manage to bring its budget deficit below the European Union limit of 3% of economic production without a hike in taxes and social securities, which is the biggest success of budget 2011, according to the finance minister.
"Bulgaria is pulling out of the crisis in macroeconomic terms and our expectations are that the revenues in the budget will stabilize," Simeon Djankov told reporters as he handed on Friday the budget draft for next year to parliamentary speaker Tsetska...
Bulgaria and Slovakia signed an economic cooperation agreement in Sofia Friday.
The document deals with the bilateral ties in trade, investments, energy, IT, telecommunications, small and medium-sized enterprises, consumer protection, agriculture, and food industry.
The economic cooperation agreement concluded the first ever session of the Bulgarian-Slovak Consultative Commission for Economic Cooperation, which lasted two days.
The document was signed by the Bulgarian Deputy Economy...
Bulgaria's Customs Agency said it raised 101.2% of the revenues that it planed to collect in September 2010.
The Agency brought a total of BGN 619 M to the state budget, which is BGN 52 M, or 9%, more than in September 2009.
The income from VAT on imports was BGN 236 M, 23% up (BGN 45 M) year-on-year; from customs duties – BGN 15 M, 21% increase compared with September 2009; from excise taxes – BGN 368 M, an increase of 1%.
In September 2010, the Customs registered the largest...
Bulgaria's seasonally adjusted gross domestic product marked an increase of 0.5% in the second quarter compared to the first three months of the year thanks to a rise in exports, pulling the country out of recession, the prime minister announced on Thursday.
Boyko Borisov spoke at the 96th Conference of the heads of statistical offices of the European Union Member States, which the Bulgarian capital hosts. The official data he cited is based on the revised methods for GDP under the EU...
Representatives of Bulgaria and Morocco have signed a bilateral sea trade agreement that has been hailed an important step by the government in Sofia.
The deal was signed in Rabat by Bulgaria's Deputy Transport Minister Kamen Kichev and Ahmed Reda Chami, Morocco's Minister of Industry, Commerce and New Technologies.
The agreement was approved within the 9th session of the Bulgarian-Moroccan Joint Economic Commission.
It allows maritime traders and ship companies from Bulgaria and...
Bulgarian Energy Minister Traicho Traikov has met with his Turkish counterpart, Taner Yildiz, during the second edition of the two-day "Black Sea Energy and Economy Forum" in Istanbul.
The Black Sea forum is organized by the US Atlantic Council. It is an initiative to bring together business leaders and policy-makers to discuss strategies regarding Eurasia, Black Sea, the Caspian and Central Asia.
"My Turkish counterpart and I discussed the main topics of our energy cooperation. One of...
Bulgaria's Prime Minister Boyko Borisov hinted he has asked Russian company Atomstroyexport to build the Belene Nuclear Power Plant for not more than EUR 7 B.
Borisov has confirmed a recent statement of Sergey Kirienko, the CEO of the Russian state company Rosatom, which is the parent company of Atomstroyexport, that the construction of Bulgaria's second NPP at Belene should be resumed soon thanks to an agreement with the Bulgarian government.
The statements by Borisov and Kirienko have...
Edinburgh- based oil and gas explorer Melrose Resources has landed a seven-year concession contract to extract natural gas from the Kaliakra field in Bulgaria, the government announced.
The new field spreads over 19 sq km and the company is required to extract 255 million m3 of gas between 2011 and 2015. Revenues over the seven-year period are expected to exceed USD 73 M.
Bulgaria's government granted in August a ten-year concession for the extraction of natural gas to the UK company...
Romania could export more electricity to Bulgaria, according to Adrian Baiscusi, general manager of Romanian power grid operator Transelectrica (TEL).
Baicusi has stated, as cited by Act Media, that as a result of Turkey joining the European electricity network (UCTE) in September, Romania should have opportunities to export energy to the south.
"For the period to come, the exchange with the neighbors will be intensified, as Turkey got into the syncronisation with UCTE and will import...
Sofia Airport has announced it will launch two new routes on Friday.
One of the routes will be conducted by the Russian Ural Airlines, which will start executing weekly flights from the Bulgarian capital to the Russian city of Yekaterinburg.
The second route will connect Sofia to the second airport in Istanbul, Sabiha Gokcen, located on the Asian side of the city. The route will be conducted by the Turkish low cost Pegasus Airlines.
The new airplanes Airbus 320 of Ural Airlines will...
Foreign direct investments by Italian companies in Bulgaria will amount to EUR 1-3 B in the next ten years, according to estimates of Confindustria Bulgaria, the Italian business association in Bulgaria.
This figure was revealed Wednesday by Massimo Bartocci, the head of Confindustria Bulgaria, at a special news conference, which announced that the General Assembly of Confindustria Balcani, the union of Italian business associations in the Balkan countries, will take place in Sofia on...
Bulgaria will advertise its culture and historical heritage with video clips and films, will start issuing licenses to tour guides while the cabinet will invest in the infrastructure of the tourist sites.
Bulgarian ministers, archeologists, businessmen and tour operators joined around these ideas Sunday, during a national debate on the culture tourism, organized by the Bulgarian daily "Standart," held in the Arena di Serdika hotel in downtown Sofia.
Finance Minister, Simeon Djankov,...
Bulgaria's government will introduce a flat 9% value-added tax (VAT) in the tourism sector, not 14% as initially planned, as of the beginning of April next year, a deputy economy minister has announced.
The move comes in response to the demand of the European Union that Bulgaria should harmonize tourism VAT, which currently stands at 7% for organized groups and 20% for individual tourism.
"The new tax had to be introduced at the beginning of 2011, but it is not a good thing to mess up the...
The International Technology Fair opens Monday in Bulgaria's second largest city of Plovdiv with participants from over 41 countries.
The number of companies with displays is estimated at 1 600. The car showroom includes 29 importers with over 40 automobile brands.
The Intermin Expo dedicated to the mining industry is a first for the Fair.
The conference and debate titled "Stable Development of the Mining Industry in Central and eastern Europe" is held Monday in the Bulgaria Hall at...
Bulgaria's northern Black Sea resort welcomed 156 000 foreign tourists in May-August, 2010.
This is a 30% increase year-on-year, according to data from the Balchik Municipality showing that the tourists visiting the town in the same period of 2009 were 122 000.
The number of night stays in local hotels also grew substantially from 692 000 in the summer of 2009 to 952 000 this summer.
The largest number of foreign visitors to Balchik came from Romania, followed by Russia, Germany,...
The unemployment rate in Bulgaria in September has dropped to 9,07%, announced Labor Minister Totyu Mladenov.
According to him, there are currently about 3000 available job positions. He also added that the unemployment is decreasing slowly but steadily in the past seven months.
Statistics show that since February unemployment has dropped from 10,26% to about 9%.
About 6000-7000 people are expected to be left without jobs after the seasonal employment during the summer is over....
Serbia is about ready to start the construction of the South Stream gas transit pipeline, announced the head of the Srbijagas company Dusan Bajatovic.
Bajatovic told the Bulgarian National Radio Saturday that Serbia will be the first country in Europe to start building South Stream.
He predicted that the Russian-sponsored pipeline will ready in 2015, while also pointing out there were no problems at present on part of Russia's Gazprom or on part of Bulgaria about the route of the...
The Bulgarian Supreme Administrative Council (VAS) ruled Friday to give final approval of the order of the Mayor of Sofia, Yordanka Fandakova, for the selection of the winning bidder to build the city's waste processing plant.
With this rule the Sofia City Hall can now sign the contract with the consortium between the Bulgarian "Stanilov" company and the German "Heilit", who offered BGN 209 M, and was afterwards attacked with appeals by the rejected competitors.
VAS rejected the...
Bulgaria is planning to sell bonds amounting to EUR 1 B on the international market in 2011 to shore up its finances, according to a finance ministry draft paper, cited by local media.
Bulgaria aims to have a budget deficit of 2.5% of gross domestic product and a growth of 3.6% in 2011, according to the budget draft.
In June, the center-right cabinet revised the state budget increasing its 2010 target for deficit to 4.8% of GDP on a cash basis and 3.9% of GDP under EU accounting rules,...
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