The top forty of the wealthiest Bulgarians have earned a total of BGN 140 M in 2011. The data was released by the National Revenue Agency, NRA. An individual from the Black Sea city of Burgas ranks first by earned income for 2011 with close to BGN 12 M. In addition, the data shows that [...]
The European Bank for Reconstruction and Development (EBRD) is boosting its support for energy efficiency projects in Bulgaria with a new EUR 10 M loan to the Bulgarian Energetics and Energy Savings Fund (FEEI), the bank said in a statement. FEEI is the country’s first private fund supporting energy-saving measures in publicly-owned buildings. The bank’s [...]
Bulgaria‘s government has voiced, yet again, its willingness to lower the 20% value-added-tax by the end of its term, which expires next year. “The VAT level is likely to be changed at the end of 2012 or the beginning of 2013,” Bulgaria‘s Deputy Prime Minister and Finance Minister, Simeon Djankov, told the morning broadcast of [...]
By the start of 2013 Bulgaria will have spent its entire fiscal reserve due to the policies of center-right GERB cabinet, argued former Bulgarian Minister of Finance Plamen Oresharski. In an interview for the Bulgarian National Radio Sunday, Oresharski was critical of his successor Simeon Djankov‘s approach of spending from the reserve and failure to [...]
Bulgaria’s fiscal reserve has decreased to BGN 3.8 B, the chair of the country’s Parliamentary budget committee Menda Stoyanova has revealed. The fiscal reserve has dropped by BGN 1.2 B since December, Stoyanova said. However, she clarified that the decrease has been due to advance payments for agriculture producers and for the external debt, explaining [...]
Remittances – money sent by Bulgarian migrants to family members back home – continue to increase slightly, but steadily despite the global downturn, data from the central bank shows. The net sum of the remittances from Bulgarians permanently working abroad totaled EUR 773.9 M during last year. Bulgarian immigrants sent home EUR 59.8 M in [...]
According to the preliminary data, the consumer price index, CPI, in Bulgaria, in January 2012 compared to December 2011 was 100.2%, i.e. the monthly inflation was 0.2%. The data was reported Wednesday by the Bulgarian National Statistical Institute (NSI). The annual inflation in January 2012, compared to January 2011 was 2.3%. The annual average inflation, [...]
Bulgaria still wants to join the eurozone provided the bloc’s members obey its rules on limiting debt, Traicho Traikov, Bulgaria‘s Economy Minister, said in an interview for German media. “Provided all other eurozone states stick to the debt rules in future…entry to the currency union remains a medium-term goal for us,” Minister Traikov told German [...]
Very bad things happened in the last few months in Europe, which imposed changes in Bulgaria’s fiscal policy, says Deputy Prime Minister and Finance Minister, Simeon Djankov. Speaking in an interview for the TV channel bTV Tuesday morning, Djankov responded to criticism that he had made promises for more funding to different sectors earlier and [...]
Salaries of top politicians in Bulgaria will be frozen at their levels from the end of 2009, according to Prime Minister, Boyko Borisov. The move will be implemented despite the cabinet’s decision to up the minimum monthly wage in Bulgaria in May, 2012 – from BGN 270 to BGN 290. “This is the situation globally; [...]
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