Bulgaria's GDP growth rate in the fourth quarter of 2010 is 2,1%, year on year and 1,7% compared to the previous quarter, according to the National Statistical Institute's flash estimates.
In the fourth quarter of 2010, the GDP at current prices amounted to BGN 19 924 B. The GDP for 2010 in monetary terms amounted to BGN 70 568 B.
Compared to the third quarter of 2010, gross value added of the total economy increased by 0.4%. According to flash estimates of GDP by final expenditure, in...
The economic slowdown aside, the high share of unoccupied office space in Bulgaria's capital Sofia – 25.4% - is the result of the deficiencies of 20 office buildings, according to a survey of Colliers International Bulgaria.
Colliers' analysis shows that a high percentage of the unoccupied office space in Sofia is concentrated in several new buildings and in specific locations in the Bulgarian capital. Thus, 63% of the unoccupied office space in Sofia is focused in 20 buildings, which have...
EU's Economic and Financial Affairs Council (ECOFIN) has confirmed the decision of the European Commission to terminate the excessive deficit procedure against Bulgaria.
European Union Finance Ministers met in Brussels on February 14 and 15, 2011, confirming the recent position of the EC that Bulgaria needs take no further steps to curb its budget deficit under the bloc's rules on government finances.
The European Union's executive said on January 27 that four countries, including...
Bulgaria's Prime Minister, Boyko Borisov, officially opened Tuesday a factory for the production of light-emitting diodes (LED) in the western town of Godech.
Borisov said during his address the State must encourage energy saving technologies instead of creating new energy production plants, adding the capital Sofia would spend BGN 10 to 15 M less if LED use is introduced.
The PM voiced hope the new factory will have a large market for its production.
Interior Minister, Tsvetan...
Bulgaria's wine exports have increased with 10% year on year in 2010, reaching 57.6 million liters, the country's Agriculture Minister, Miroslav Naydenov, has announced.
Naydenov spoke on the professional holiday of vine-growers and wine-makers, celebrated on Monday. On this day, a special ritual - the first pruning of the vines for the season is done across the country. The celebrations are rooted in the ancient Dionysus festivities, celebrating Dionysus - the God of Wine, who was known to...
Bulgaria's industrial production grew by 5.2% year on year in December 2010 according to Eurostat, EU's statistical office.
The country's industry registered its highest year on year increase in September 2010 – with 8.8%
According to the annual comparison, the industrial production rose in all Member States for which data are available, except Greece (-5.2%), Malta (-3.1%) and Spain (-0.1%). The highest increases were registered in Estonia (+38.4%), Ireland (+16.9%), Latvia (+15.7%),...
Bulgaria will participate for the third time in World Travel Fair 2011, one of the biggest tourism exhibitions in Asia, which opens Friday in Shanghai.
The Bulgarian pavilion has been provided by the Ministry of Economy, Energy and Tourism (MEET).
Minister Traycho Traykov has highlighted China as a high-priority country in which MEET actively presents tourist and investment opportunities.
The eleventh edition of the tourism exhibition will bring together more than 500 participants from...
After it collapsed by some 50% y/y in 2009 and by 25% in 2010, Bulgaria's market of new vehicles has started to show more tangible signs of recovery.
A total of 1 464 new cars were bought in Bulgaria in January 2011, a growth of 18% year-on-year when the sales were 1160. Thus, the new car sales in Bulgaria increased for a third month in a row.
19 motorbikes and 79 new trucks were sold in Bulgaria in January but not a single new bus, according to data of the Association of Car...
The British company Zero Carbon 2020 plans to begin, during the second quarter of 2011, putting together electric cars in a plant in Bulgaria's southern city of Stara Zagora.
The information is reported Saturday by the Economy News site, citing Jamie Robertson, the company's director, and comes on the heels of the "Electric Cars – Challenges to New Mobility" conference held Thursday and Friday in Sofia.
The initial investment is estimated at BGN 6.5 M, and if the market reacts well, it...
Bulgaria raised 24% more state revenues from gambling in 2010 than it did in 2009, according to the State Commission on Gambling.
In 2010, Bulgaria's total tax revenue from gambling was BGN 123.3 M, a growth of one fourth compared with the 2009 gambling revenues for the state of BGN 99.4 M, official date of the National Revenue Agency shows.
The bets on sports games brought the state budged BGN 47.8 M in 2010, a 10% y/y growth.
The revenues from tax on gambling establishments were BGN...
Bulgarian company REnergY has announced plans to construct 15-20 charging stations for electric vehicles in the capital Sofia.
REnergY's pilot project entitled "Electromobility" was presented at the two-day high-level conference in Sofia dedicated to the development, introduction, and use of electric cars called "Electric Cars – Challenges for New Mobility."
The company presented a prototype of an electric charging point that it has developed.
REnergY will built the electric charging...
Japanese corporation Toshiba will open a regional representation in Bulgaria that will handle its operations in Central and Eastern Europe, the Middle East, and North Africa.
Thus, Bulgaria will become the second European country after the UK with an EMEA operations office of Toshiba, according to the Bulgarian Ministry of Economy, Energy, and Tourism.
Bulgaria's Economy Minister Traicho Traikov met Friday in Sofia with senior Toshiba executives Osamu Tomita and Keizo Honda as part of a...
During the fourth quarter of 2010, the average monthly salary in Bulgaria went up by 4.9% compared to the third quarter, to reach BGN 669.
The data was released Friday by the National Statistics Institute (NSI).
The average salary in October, November and December was BGN 650, 667 and 691 respectively.
The highest increases were registered in Education (13%), Financial Services (10%) while the salaries went down the most in Administration (1%) and the Mining Sector (0.1%).
During...
Bulgaria's government has hopes the country will be able to assume a leading innovation role with respect to the development and use of electric cars, Economy Minister Traicho Traikov has suggested.
Speaking at an international conference in Sofia Thursday entitled "Electric Cars – Challenges to New Mobility" Traikov declared that since electric cars are an innovative and new product, "new players" can assume a major role in the development of this market, hinting that Bulgaria has...
About a dozen strategic and financial investors have declared interest in the privatization of Bulgaria's state cigarette producer Bulgartabac Holding, according to Economy Minister Traicho Traikov.
Unofficial information reported in the Bulgarian media says that the bidders seeking to purchase Bulgartabac include companies from Bulgaria, Greece, and South Korea.
Traikov has announced that next week the government will announce its decision on the privatization method – i.e. whether...
Bulgaria ended 2010 with a trade deficit that is 42.5% lower than the one in 2009, according to preliminary date of the National Statistical Institute.
Thus, in 2010, Bulgaria exported goods and services worth BGN 30.421 B, which is a 33% increase compared with 2009.
Bulgaria's 2010 imports was BGN 37.4 B, or 13.3% more than it was in 2009 (BGN 31 B). Thus, Bulgaria's trade deficit in 2010 amounted to BGN 7 B (FOB-CIF).
After subtracting the spending on transport and insurance, the...
Bulgaria has registered a 23.8% boost in its exports to other EU member states year on year in the period January – November 2010, according to the National Statistical Institute's preliminary data.
Bulgaria's exports in the period amounted to BGN 17 B. The largest growths were recorded in the sections "Crude materials, inedible (except fuel)" and "Chemical and related products". A fall was observed only in exports of one section – „Beverages and tobacco"
Bulgaria's main trade...
Bulgarian Minister in charge of EU funds absorption Tomislav Donchev has invited firms from Northern Ireland to do business in Bulgaria.
Four construction sector companies were among eight Northern Ireland firms to attend a briefing recently hosted by Invest NI on doing business in Bulgaria, reports 4NI.
During the briefing Donchev urged them to seize business opportunities resulting from investment by the Bulgarian government in infrastructure and its business base.
The event was...
Americans are giving up their citizenship in order to obtain Bulgarian or Austrian passports, the Swiss financial daily "Agefi" claims.
The grounds for this decision are the unbearable tax burdens in the US, particularly the heritage tax, according to the publication.
The motivation is based on the fact many countries have "discretely" introduced citizenship granting programs based on purely economic principles such as Austria, Saint Kitts and Dominica, while Bulgaria, Singapore, Belgium...
By the end of 2013, Bulgaria will have railway lines for high-speed transport of both passengers and freight, said Milcho Lambrev, Director General of National Railway Infrastructure Company.
However, in his words, having high-speed railways for over 200 km/h would be economically unprofitable for Bulgaria.
"The territory of the country is characterized by very rugged terrain. In order to introduce railway lines for speeds above 200 km/h, we have to build many and expensive equipment,...
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