Bulgaria's next government will be a three-party coalition, the country's former Socialist president has forecast, declining to disclose its members.
"It is mission impossible for the currently ruling party GERB to garner enough votes and form a minority government," Georgi Parvanov said in an interview for Darik radio.
According to Parvanov the new government, regardless of its line-up, will need strong support by the people to conduct the badly needed reforms, which were not...
Sun Edison this week sold Bulgaria's largest solar park to a consortium of investors for Ј142m. The 60.4-megawatt Karadzhalovo solar park in southern Bulgaria began operating in March and cost Ј144m, according to the International Finance Corporation, which helped fund the project....
The European Tour has long sought to grow golf outside the continent, taking top players around the world to Asia, the Middle East and Africa, while its second-tier circuit even visited South America this year.
Its latest bid to break new ground -- the largely untapped golfing market of Eastern Europe -- has been driven by the desires of one of its major sponsors.
One of the tour's premier events, the World Match Play Championship, will next year move home from economically-stricken...
Brussels Gives Bulgaria EUR 42.5 Million for Sofia Tech Park
(Sofia, Jan 11) - The European Commission has allocated a grant of EUR 42.5 million (BGN 83.1 million) for the construction of the Sofia Tech Park. The contract was signed at the Council of Ministers by Sofia Tech Park CEO Elitsa Panayotova and Chief Director of the European Funds for Competitiveness Kiril Geratliev. The event was also attended by Minister of Economy Delian Dobrev.
The total cost of the project is EUR 50...
Bulgaria to Pay EUR 879 M on Foreign Debt in 10 Days
The next bonds maturity dates are in 2015 and 2017
(Sofia, Jan 5, 2012) - EUR 879,849,875 ? this is the sum that Bulgaria is to pay on its foreign debt on January 15th, 2013, the finance ministry said.
Thus, Bulgaria will fully pay off the emission of Eurobonds with a 7.5-percent interest, emitted in 2002 by Milen Velchev, finance minister in the Saxe-Coburg-Gotha-led Cabinet.
So as to pay off this loan, the Bulgarian...
Bulgaria to Start Nabucco in June 2013
(Sofia, Jan 11) - The construction of the Bulgarian section of the Nabucco pipeline will start in June 2013, Prime Minister Boyko Borisov informed at the first ministerial meeting of the project in 2013 in Sofia.
As the current head of the rotating presidency of the project, Bulgaria is calling for fix deadlines, the PM said. By June Bulgaria will have all the construction permits and mining companies from the "Shah Deniz-2" field will decide...
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...
Construction of NPP Kozloduy's Seventh Reactor to Start in 2016
(Sofia, Jan 12) - "The first sod of NPP Kozloduy's seventh reactor will be turned in 2016," Bulgaria's Economy and Energy Ministry Delyan Dobrev said.
His statement was also supported by Sergey Tsochev, chairman of Bulgaria's Nuclear Regulatory Agency.
"The preparation of the necessary analyses and documents regarding the selection of a site for NPP Kozloduy's seventh reactor is to be completed in the second half of...
Finmin Djankov: Some incomes will increase in 2013
(Sofia, Jan 5) - "The Financial 2012 finished better than expected," Bulgaria's Finmin Simeon Djankov commented for the Bulgarian National Television (BNT).
"Due to overfulfilment of the revenues by the National Revenue agency and Customs agency, the budget deficit for 2012 is by 3 times less than planned and this will allow an additional increase of some of the incomes in 2013," Mr Djankov stated.
At this stage Finmin Djankov...
General Elections in Italy and Germany May Influence the Political Situation in Bulgaria
Yuriy Aslanov, sociologist
Sofia, Jan 12) - Whether or not Bulgaria will have a coalition government after the general elections in July 2013 is very hard to predict, as it will depend on talks between the political formations and politicians alike.
The social moods in the country are very dynamic. We can assume with quite a certainty that three political parties – Citizens for European...
NPP Kozloduy to Sell Electricity Abroad without Intermediaries
(Sofia Jan 5, 2013) - The management of Bulgaria's NPP Kozloduy will apply to the State Energy and Waters Regulatory Commission for a full license to sell its electricity to end-users abroad, NPP Kozloduy CEO Valentin Nikolov said.
Presently, NPP Kozloduy uses intermediary companies to sell its output to end-users in several EU member states, including Germany and Austria.
"At the beginning of next week I am going to...
PM Borissov and PM Samaras to Discuss Crisis and Macedonia
(Sofia, Jan 5) - Greek PM Andonis Samaras will make an official visit to Bulgaria in February, the Standart learnt, though there is no fixed date for the visit yet. PM Samaras will be accompanied by some of his ministers. PM Borissov and PM Samaras will discuss the global crisis and the application of Macedonia for EU membership.
Greece has already supported Bulgaria in its position that Macedonia should enter the EU if the...
Pope Benedict XVI to Watch Documentary on Bulgaria's Late Patriarch Maxim
The Vatican respects the memory of late Patriarch Maxim
The Vatican will watch a documentary about the deceased Bulgaria's Patriarch Maxim. On January 22, the documentary named My Service of the journalist from the Bulgarian National Television (BNT), Goran Blagoev, will be screened in the Vatican television hall, the Standart learnt from sources from the Holy Synod.
A special invitation to attend the event...
President Plevneliev's Veto Survives Parliament Vote
(Sofia, Jan 12) - Bulgarian MPs supported President Rossen Plevneliev's veto on the Investments Encouragement Act and returned it for further discussion.
Only three MPs supported the Act, 24 voted against it and 95 abstained from voting.
President Plevneliev vetoed the new law because, as he made it a point, the new regulations for residence of foreign investors in Bulgaria create many obstacles for their business activities....
1. The July 18 terrorist attack at the Sarafovo Airport in Bulgaria's Burgas, aka the Burgas Bus Bombing
2. Natural disasters – the May 20 6.0-magnitude earthquake in the western Bulgarian city of Pernik and Sofia and the flooding in the village of Biser
3. The decision of Bulgaria's Borisov Cabinet to terminate the project for the construction of the Belene Nuclear Power Plant, and the ensuing scheduling of a national referendum on the construction a second NPP
4. Civil...
Bulgarian Prime Minister Boyko Borisov has vowed to resign if the parliamentary group of center-right ruling party GERB backs the abolition of the smoking ban.
"We are totally against the abolition of the smoking ban. Let us hope that they will not make me once again carry my letter of resignation in my pocket at the next vote," Borisov said in a Saturday interview for Darik radio.
Bulgaria's Prime Minister reminded that he had appeared in Parliament with his letter of resignation in his...
The coins, dating from the 3rd century A.C., have images of a number of Roman Emperors or different Gods.
They are extremely well-preserved, meaning they have not been in circulation, experts say.
The coins were located in an ancient hiding place and were a real treasure for this period with their owner being a very wealthy man, they further explain, adding the hiding place in the floor showed the said owner had intentions to get them back at some point, but was prevented, most likely...
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's 'Pebble Beach' to host top European golf event
Nicolas Colsaerts will defend his World Match Play title at a new European Tour venue in May.
The European Tour has long sought to grow golf outside the continent, taking top players around the world to Asia, the Middle East and Africa, while its second-tier circuit even visited South America this year.
Its latest bid to break new ground -- the largely untapped golfing market of Eastern Europe -- has been driven by the desires...
Bulgaria Translation