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<channel>
	<title>Bulgarian Business Club Newspaper</title>
	<atom:link href="http://bulgarianbusiness.org.uk/feed/" rel="self" type="application/rss+xml" />
	<link>http://bulgarianbusiness.org.uk</link>
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	<lastBuildDate>Tue, 10 Aug 2010 00:03:05 +0000</lastBuildDate>
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		<title>World Bank President Heaps High Praise on Bulgarian Govt</title>
		<link>http://bulgarianbusiness.org.uk/world-bank-president-heaps-high-praise-on-bulgarian-govt/</link>
		<comments>http://bulgarianbusiness.org.uk/world-bank-president-heaps-high-praise-on-bulgarian-govt/#comments</comments>
		<pubDate>Tue, 10 Aug 2010 00:03:05 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[Boyko Borisov]]></category>
		<category><![CDATA[Dobrich]]></category>
		<category><![CDATA[GERB cabinet]]></category>
		<category><![CDATA[infrastructure]]></category>
		<category><![CDATA[progress report]]></category>
		<category><![CDATA[road]]></category>
		<category><![CDATA[World Bank]]></category>
		<category><![CDATA[Zoellick]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2432</guid>
		<description><![CDATA[President of the World Bank Robert Zoellick praised the Bulgarian government for successfully tackling the global economic crisis on his official visit to the country Monday. “I came hear to learn and listen,” said Zoellick, adding that in the situation of heavy economic crisis Bulgaria is doing “not worse than most” and that achieved results [...]]]></description>
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<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/rob+bor.jpg"><img class="size-medium wp-image-2433 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/rob+bor-300x199.jpg" alt="" width="300" height="199" /></a></p>
<p>President of the <strong>World Bank</strong> Robert <strong>Zoellick</strong> praised the Bulgarian government for successfully tackling the global  economic crisis on his official visit to the country Monday.</p>
<p>“I came hear to learn and listen,” said <strong>Zoellick</strong>, adding that  in the situation of heavy economic crisis Bulgaria is doing “not worse  than most” and that achieved results are manifest for all to see.</p>
<p>The <strong>World Bank</strong> president stated that his visit comes at a  crucial time for the relations between the institution and Bulgaria and  vowed to support the country&#8217;s efforts.</p>
<p>He said that in the past Bulgaria has had problems with corruption and administrative services but praised the efforts of the <strong>GERB cabinet</strong> to overcome them, saying that Bulgaria has “potential.” The <strong>World Bank</strong> president supported his words by referring to the latest European Commission <strong>progress report</strong> on Bulgaria.</p>
<p><strong>Zoellick</strong> further added that Bulgaria can rely on support not only for <strong>road</strong> <strong>infrastructure</strong> projects, but also in the areas of energy, education and administrative capacity.</p>
<p>Bulgarian PM <strong>Boyko Borisov</strong> in his turn stated that Bulgaria will be able to take “as much as it wants” from the <strong>World Bank</strong>, as reported by VarnaUtre.bg.</p>
<p>The prime minister gave a demonstration of newly acquired <strong>road</strong>-construction equipment and praised the work of his cabinet in the field of <strong>road</strong> <strong>infrastructure</strong>, saying that some their important goals are the quality of the <strong>road</strong>s and the transparency in the spending of funds on <strong>infrastructure</strong>.</p>
<p>The official meeting took place at the site of the ongoing repair project on the <strong>road</strong> between Bulgarian Black Sea capital Varna and north-eastern town of <strong>Dobrich</strong>.</p>
<p><strong>Zoellick</strong> too praised the quality of the work, saying that with projects like this one the <strong>GERB cabinet</strong> is working for the economic improvement of Bulgaria.</p>
<p>www.novinite.com</p>
</div>
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		<title>Bulgarian State Companies with New Orders for Bank Selection</title>
		<link>http://bulgarianbusiness.org.uk/bulgarian-state-companies-with-new-orders-for-bank-selection/</link>
		<comments>http://bulgarianbusiness.org.uk/bulgarian-state-companies-with-new-orders-for-bank-selection/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 23:59:04 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Directions for Applying Good Practices in the Selection of an Executor of Financial Services]]></category>
		<category><![CDATA[Finance Ministry]]></category>
		<category><![CDATA[financial institution]]></category>
		<category><![CDATA[Simeon Djankov]]></category>
		<category><![CDATA[State companies]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2428</guid>
		<description><![CDATA[Bulgaria’s Finance Ministry and Minister, Simeon Djankov, are ready with directions for State companies for the selection of banks to serve their accounts. The Directions for Applying Good Practices in the Selection of an Executor of Financial Services are valid for companies entirely owned by the State, for those where 50% of the shares are [...]]]></description>
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<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/dqnkov.jpg"><img class="size-medium wp-image-2429 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/dqnkov-300x237.jpg" alt="" width="300" height="237" /></a></p>
<p>Bulgaria’s <strong>Finance Ministry</strong> and Minister, <strong>Simeon Djankov</strong>, are ready with directions for <strong>State companies</strong> for the selection of <strong>banks</strong> to serve their accounts.</p>
<p>The <strong>Directions for Applying Good Practices in the Selection of an Executor of Financial Services</strong> are valid for companies entirely owned by the State, for those where  50% of the shares are controlled by it, and for their affiliates.</p>
<p>The instructions will become effective after the current contracts of the above with <strong>banks</strong> and <strong>financial institution</strong>s  expire. In case the contracts are termless, the companies must send a  6-month notice that they will be annulled and a competition for new  agreements will be held.</p>
<p><strong>State companies</strong> are mandated to include in their rules and regulations a section for the ways and the criteria to choose a <strong>financial institution</strong> and to submit them to the <strong>Finance Ministry</strong>.  The companies must further report on their compliance with the  directions after each quarter and at the end of the fiscal year. The  document, however, does not provide for sanctions if the mandate remains  unfulfilled.</p>
<p>The companies will have to select the most cost effective from at least 3 offers while assessment of the <strong>banks</strong> will be based on their image, credit rating, interest rates, fees and commissions.</p>
<p>www.novinite.com</p>
</div>
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		<title>World Bank President Robert Zoellick Heads for Bulgaria</title>
		<link>http://bulgarianbusiness.org.uk/world-bank-president-robert-zoellick-heads-for-bulgaria/</link>
		<comments>http://bulgarianbusiness.org.uk/world-bank-president-robert-zoellick-heads-for-bulgaria/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 23:55:34 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[Kristalina Georgieva]]></category>
		<category><![CDATA[Robert B. Zoellick]]></category>
		<category><![CDATA[World Bank]]></category>
		<category><![CDATA[World Bank President]]></category>
		<category><![CDATA[Zoellick]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2425</guid>
		<description><![CDATA[World Bank Group President, Robert B. Zoellick, will visit Bulgaria, Moldova, and Latvia on August 9 – 13, a WB press release informs Friday. Zoellick’s goals include meeting with government leaders, business people, think tanks, civil society, and visiting projects to discuss development issues and the impact of the global economic crisis. “Europe and Central [...]]]></description>
			<content:encoded><![CDATA[<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/rob.jpg"><img class="size-medium wp-image-2426 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/rob-300x188.jpg" alt="" width="300" height="188" /></a></p>
<p><strong>World Bank</strong> Group President, <strong>Robert B. <strong>Zoellick</strong></strong>, will visit Bulgaria, Moldova, and Latvia on August 9 – 13, a WB press release informs Friday.</p>
<p><strong>Zoellick</strong>’s goals include meeting with government leaders,  business people, think tanks, civil society, and visiting projects to  discuss development issues and the impact of the global economic crisis.</p>
<p>“Europe and Central Asia was one of the regions hit hardest by the  financial crisis and the region is still recovering. Rising joblessness  is pushing households into poverty and making things even harder for  those already poor,” said the <strong>World Bank</strong> Group President is quoted saying.“The <strong>World Bank</strong> has provided record support to help the countries of Europe and Central  Asia respond to the crisis. I look forward to discussing with the  governments of Bulgaria, Moldova, and Latvia how the Bank can continue  to help drive economic recovery.”</p>
<p>Europe and Central Asia is a diverse region of emerging economies,  and therefore faces differing prospects for recovery. About half of the  region’s 30 countries experienced a decline in Gross Domestic Product  (GDP) in 2009, with GDP growth ranging from a negative 18% in Latvia to a  positive 9.3% in Azerbaijan. Growth in the region, which had peaked at  about 7% in 2007, fell to a negative 6% in 2009 and is projected this  year at around 4%, the <strong>World Bank</strong> points out.</p>
<p>The <strong>World Bank</strong> Group responded quickly in fiscal year 2010  (FY10) to requests from countries in Europe and Central Asia for help in  addressing the global economic crisis, providing record support of USD  14.8 B to the region, the press release reads.</p>
<p>On August 9 – 11, President <strong>Zoellick</strong> will, together with Bulgaria’s EC Commissioner, <strong>Kristalina Georgieva</strong>, former Vice President and Corporate Secretary of the <strong>World Bank</strong> Group, visit Bulgaria. Georgieva and <strong>Zoellick</strong> will meet with President, Georgi Parvanov, Prime Minister, Boyko  Borissov, Deputy Prime Minister and Minister of Finance, Simeon Djankov,  and Minister of Foreign Affairs, Nikolay Mladenov. In the company of  the Minister of Regional Development and Public Works, Rosen Plevneliev,  the two will visit a road section which is being rehabilitated with  co-financing provided by the <strong>World Bank</strong>’s Road Infrastructure Rehabilitation Project.</p>
<p>“As a new EU member state, Bulgaria has a unique opportunity to make  the most of the existing European support to speed up the convergence of  living standards. In order to increase the country’s competitiveness,  investing in infrastructure – including transport infrastructure – is  critical. I look forward to discussing how the <strong>World Bank</strong> can, in close partnership with the European Commission and European institutions, help Bulgaria best use available resources,” <strong>Zoellick</strong> is further quoted saying.</p>
<p>www.novinite.com</p>
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		<title>Bulgaria Consolidates Control of Finance, Customs, Tax Authorities</title>
		<link>http://bulgarianbusiness.org.uk/bulgaria-consolidates-control-of-finance-customs-tax-authorities/</link>
		<comments>http://bulgarianbusiness.org.uk/bulgaria-consolidates-control-of-finance-customs-tax-authorities/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 23:50:58 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[Cabinet]]></category>
		<category><![CDATA[Customs Agency]]></category>
		<category><![CDATA[Finance Ministry]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[inspectorate]]></category>
		<category><![CDATA[NAP]]></category>
		<category><![CDATA[National Revenue Agency]]></category>
		<category><![CDATA[NRA]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2421</guid>
		<description><![CDATA[Bulgaria’s Cabinet has approved the merging of the existing inspectorates of the Finance Ministry, the Customs Agency, and the National Revenue Agency. The decision was adopted during the regular government meeting on Wednesday. With it, the government is aiming at “achieving greater objectivity and impartiality” in the control and supervision of the respective institutions. The [...]]]></description>
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<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/boris-dqnkov.jpg"><img class="size-medium wp-image-2422 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/boris-dqnkov-300x161.jpg" alt="" width="300" height="161" /></a></p>
<p>Bulgaria’s <strong>Cabinet</strong> has approved the merging of the existing <strong>inspectorate</strong>s of the <strong>Finance Ministry</strong>, the <strong>Customs Agency</strong>, and the <strong>National Revenue Agency</strong>.</p>
<p>The decision was adopted during the regular <strong>government</strong> meeting on Wednesday. With it, the <strong>government</strong> is aiming at “achieving greater objectivity and impartiality” in the control and supervision of the respective institutions.</p>
<p>The merge is also said to have been designed to avoid repetitive  functions and to optimize the staff of the financial, customs and tax  inspectors.</p>
<p>At present, the <strong>National Revenue Agency</strong>, which is in charge of tax collection, has 41 inspectors; the <strong>Customs Agency</strong> has 21 inspectors at its headquarters and 12 inspectors in the regional directorates; the <strong>Finance Ministry</strong> has a total of 8 inspectors.</p>
<p>With the merger, the total number of inspectors will be reduced from 82 in the three institutions to 34 in the new Inspectorate.</p>
<p>The <strong>Cabinet</strong> also approved the optimization of the staff of the Finance Minister setting the number of the institution’s employees at 635.</p>
<p>www.novinite.com</p>
</div>
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		<title>Average Wage in Bulgaria Up 9% Q2 Y/Y</title>
		<link>http://bulgarianbusiness.org.uk/average-wage-in-bulgaria-up-9-q2-yy/</link>
		<comments>http://bulgarianbusiness.org.uk/average-wage-in-bulgaria-up-9-q2-yy/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 23:37:08 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[avarege wage]]></category>
		<category><![CDATA[average salary]]></category>
		<category><![CDATA[employment]]></category>
		<category><![CDATA[employment rate]]></category>
		<category><![CDATA[monthly salary]]></category>
		<category><![CDATA[monthly wage]]></category>
		<category><![CDATA[NSI]]></category>
		<category><![CDATA[salary]]></category>
		<category><![CDATA[unemployment]]></category>
		<category><![CDATA[wage]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2418</guid>
		<description><![CDATA[The average wage in Bulgaria during the second quarter of 2010 is up nearly 9% year on year, according to data published by the National Statistics Institute (NSI) Monday. Compared to the first quarter of 2010, salaries went up by 3.4% to reach BGN 640 a month on average. The largest wage increase in June, [...]]]></description>
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<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/lopata.jpg"><img class="size-medium wp-image-2419 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/lopata-300x216.jpg" alt="" width="300" height="216" /></a></p>
<p>The average <strong>wage</strong> in Bulgaria during the  second quarter of 2010 is up nearly 9% year on year, according to data  published by the National Statistics Institute (<strong>NSI</strong>) Monday.</p>
<p>Compared to the first quarter of 2010, salaries went up by 3.4% to reach BGN 640 a month on average.</p>
<p>The largest <strong>wage</strong> increase in June, compared to March 2010 is  noted in the financial, insurance, construction and real estate sectors.  As far as the second quarter, compared to the same period of 2009,  salaries went up the most in information media, telecommunications and  real estate. So far this year <strong>wage</strong>s in State administration remain at the same level.</p>
<p>By the end of June, 2010, the highest monthly salaries were  registered in the finance and insurance sector – BGN 1 418, followed by  production and distribution of electric power – BGN 1 366. Salaries were  the lowest in the hotel and restaurant industry – BGN 425, followed by  the administration with BGN 428 a month.</p>
<p>The <strong>employment</strong> rate is also up during the second quarter of  2010 compared to the first one – by 1.7% or 38 000 people, but compared  to last year it is down by 7.2%.</p>
<p>The <strong>employment</strong> increase is mostly attributed to seasonal workers.</p>
<p>In June 2010, compared to March most people have been hired in the industrial sector, automobile repairs and trade.</p>
<p>www.novinite.com</p>
</div>
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		<title>Bulgaria with Staggering Export Growth to Non-EU States in 2010 H1</title>
		<link>http://bulgarianbusiness.org.uk/bulgaria-with-staggering-export-growth-to-non-eu-states-in-2010-h1/</link>
		<comments>http://bulgarianbusiness.org.uk/bulgaria-with-staggering-export-growth-to-non-eu-states-in-2010-h1/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 23:34:30 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Brazil]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[export]]></category>
		<category><![CDATA[foreign trade]]></category>
		<category><![CDATA[import]]></category>
		<category><![CDATA[macedonia]]></category>
		<category><![CDATA[Peru]]></category>
		<category><![CDATA[Russia]]></category>
		<category><![CDATA[Serbia]]></category>
		<category><![CDATA[Singapore]]></category>
		<category><![CDATA[turkey]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2414</guid>
		<description><![CDATA[Bulgaria’s export to non-EU countries grew by 44.1% in the first half of 2010 year-on-year, according to preliminary data of the National Statistical Institute. Thus, in January-June 2010, Bulgaria exported outside the EU goods and services worth a total of BGN 5.4 B. Over 50% of the Bulgarian non-EU exports went to Turkey, Serbia, Russia, [...]]]></description>
			<content:encoded><![CDATA[<div>
<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/kola.jpg"><img class="size-medium wp-image-2415 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/kola-300x199.jpg" alt="" width="300" height="199" /></a></p>
<p>Bulgaria’s <strong>export</strong> to non-EU countries grew  by 44.1% in the first half of 2010 year-on-year, according to  preliminary data of the National Statistical Institute.</p>
<p>Thus, in January-June 2010, Bulgaria <strong>export</strong>ed outside the EU goods and services worth a total of BGN 5.4 B.</p>
<p>Over 50% of the Bulgarian non-EU <strong>export</strong>s went to Turkey, <strong>Serbia</strong>, <strong>Russia</strong>, Macedonia, <strong>Singapore</strong>, and the People’s Republic of <strong>China</strong>.</p>
<p>In the first six months of 2010, Bulgaria’s <strong>export</strong> to <strong>China</strong> grew by 219.5%, to Turkey – by 65.5%, to <strong>Serbia</strong> – by 53.6%, to <strong>Russia</strong> – by 48.9%, to <strong>Singapore</strong> – by 26.1%, to Macedonia – by 21%.</p>
<p><strong>Peru</strong> (+1260%) and <strong>Brazil</strong> (+345%) are other destinations to which Bulgaria’s <strong>export</strong> registered substantial growth.</p>
<p>In June 2010, the Bulgarian <strong>export</strong> to non-EU countries grew by 49.1% year-on-year, reaching a total of BGN 1.1 B.</p>
<p>The preliminary data of the NSI shows that Bulgaria’s <strong>foreign trade</strong> gap is continuing to close slowly as the country’s <strong>import</strong>s from outside the EU increased by only 7.4% in the first half o 2010 year-on-year, and amounted to BGN 7.1 B.</p>
<p>Bulgaria’s <strong>import</strong> from Albania grew by 415%, from Israel – by 257%, from <strong>Peru</strong> – by 104%, from Macedonia – by 65%, from <strong>Serbia</strong> – by 64%.</p>
<p>Bulgaria’s <strong>import</strong>s from Norway (-78%), South Africa (-88%), <strong>Singapore</strong> (-43%), <strong>China</strong> (-10%), <strong>Brazil</strong> (-29%) and Kazakhstan (-33%) have registered substantial decreases.</p>
<p>In June 2010, Bulgaria’s <strong>import</strong>s from outside the EU increased by 26.5% year-on-year, reaching BGN 1.3 B.</p>
<p>In the first half of 2010, Bulgaria’s trade balance with non-EU  countries was negative BGN 1.7 B, which is substantial improvement  compared with the same period of 2009 when it amounted to negative BGN  2.8 B. In June 2010, the balance was negative BGN 229.5 M.</p>
<p>www.novinite.com</p>
</div>
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		<title>Bulgarian State Railroads to Request Loan from World Bank</title>
		<link>http://bulgarianbusiness.org.uk/bulgarian-state-railroads-to-request-loan-from-world-bank/</link>
		<comments>http://bulgarianbusiness.org.uk/bulgarian-state-railroads-to-request-loan-from-world-bank/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 23:32:02 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Alexander Tsvetkov]]></category>
		<category><![CDATA[BDZ]]></category>
		<category><![CDATA[railroads]]></category>
		<category><![CDATA[Robert B. Zoellick]]></category>
		<category><![CDATA[World Bank]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2410</guid>
		<description><![CDATA[The Bulgarian Minister of Transport has announced that the country will request a loan from the World Bank for helping the Bulgarian State Railway Company BDZ. The Bulgarian private TV channel bTV has reported that there have been negotiations with the president of the President of the World Bank, Robert B. Zoellick, for a loan needed for [...]]]></description>
			<content:encoded><![CDATA[<div>
<p><a class="highslide" href="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/vlak.jpg"><img class="size-medium wp-image-2411 alignleft" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/08/vlak-300x199.jpg" alt="" width="300" height="199" /></a></p>
<p>The Bulgarian Minister of Transport has announced that the country will request a loan from the <strong>World Bank</strong> for helping the Bulgarian State Railway Company <strong>BDZ</strong>.</p>
<p>The Bulgarian private TV channel bTV has reported that there have been negotiations with the president of the President of the <strong>World Bank</strong>, <strong>Robert B. Zoellick</strong>, for a loan needed for the saving of <strong>BDZ</strong>.</p>
<p>“The <strong>railroads</strong>’ problems are the huge credits and debts to the  suppliers that have been piling up in the past two years of the ruling  of the Three-way Coalition” Minister <strong>Alexander Tsvetkov</strong> said.</p>
<p>According to him, this is the reason why the <strong>World Bank</strong> should help <strong>BDZ</strong>.</p>
<p>“We are talking about BGN 450 M, which would be granted in tranches  in the next few years. Now the main task is to stabilize the Bulgarian  railway operator, so that it can function normally,” the minister said.</p>
<p>Tsvetkov has also announced that the country’s <strong>railroads</strong> have recorded BGN 10 M more revenues in the first half of the year, in comparison to 2009.</p>
<p>“The envisioned measures for stabilization of the Bulgarian railway operator <strong>BDZ</strong> are already showing results. The plan for <strong>BDZ</strong> is to have a positive financial result in 2014,” the minister said Monday.</p>
<p>He pointed out that the envisioned measures for improving <strong>BDZ</strong> have been more than 100 because of the bad situation the railway operator has been in.</p>
<p>www.novinite.com</p>
</div>
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		<title>Bulgarian EU Commissioner Kristalina Georgieva: European Humanitarian Aid Touches Hearts and Minds around the World</title>
		<link>http://bulgarianbusiness.org.uk/bulgarian-eu-commissioner-kristalina-georgieva-european-humanitarian-aid-touches-hearts-minds-world/</link>
		<comments>http://bulgarianbusiness.org.uk/bulgarian-eu-commissioner-kristalina-georgieva-european-humanitarian-aid-touches-hearts-minds-world/#comments</comments>
		<pubDate>Wed, 02 Jun 2010 10:41:00 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Interview]]></category>
		<category><![CDATA[Boyko Borisov]]></category>
		<category><![CDATA[Bulgaria]]></category>
		<category><![CDATA[EC]]></category>
		<category><![CDATA[EU Commissioner]]></category>
		<category><![CDATA[euro zone]]></category>
		<category><![CDATA[European Commission]]></category>
		<category><![CDATA[Eurozone]]></category>
		<category><![CDATA[External Action Service]]></category>
		<category><![CDATA[France]]></category>
		<category><![CDATA[GERB]]></category>
		<category><![CDATA[Germany]]></category>
		<category><![CDATA[greece]]></category>
		<category><![CDATA[hard power]]></category>
		<category><![CDATA[humanitarian aid]]></category>
		<category><![CDATA[IMF]]></category>
		<category><![CDATA[International Monetary Fund]]></category>
		<category><![CDATA[Kristalina Georgieva]]></category>
		<category><![CDATA[soft power]]></category>
		<category><![CDATA[World Bank]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2403</guid>
		<description><![CDATA[Exclusive interview of Novinite.com (Sofia News Agency) with Kristalina Georgieva, EU Commissioner for Humanitarian Aid, International Cooperation and Crisis Response. Kristalina Georgieva was born on August 13, 1953, in Sofia, Bulgaria. She earned her MA in Political Economy and Sociology in 1976 and her Ph.D. in economics in 1986 from the University of National and [...]]]></description>
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<p><img class="alignnone size-full wp-image-2404" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/06/kristalina1.jpg" alt="kristalina" width="500" height="362" /></p>
<p><em><strong>Exclusive interview of Novinite.com  (Sofia News Agency) with Kristalina Georgieva, EU Commissioner for  Humanitarian Aid, International Cooperation and Crisis Response.</strong> </em></p>
<p><em> </em></p>
<p><em>Kristalina Georgieva was born on August 13, 1953, in Sofia,  Bulgaria. She earned her MA in Political Economy and Sociology in 1976  and her Ph.D. in economics in 1986 from the University of National and  World Economy. Until 1993, she was an Assistant/Associate Professor at  the same institution. She later became a research fellow at the London  School of Economics, and taught as a visiting professor at the  University of the South Pacific, Fiji; the Australian National  University, and the Massachusetts Institute of Technology.</em></p>
<p><em>Georgieva joined the World Bank in 1993. In 2000-2010, she was  the head of the World Bank directorates on Environment, Strategy and  Operations, and Sustainable Development; she also served as the World  Bank Director and Resident Representative in Russia.</em></p>
<p><em>In 2008-2010, Georgieva was the Vice President and Corporate  Secretary of the World Bank Group, directly reporting to the President,  and Interlocutor between World Bank Group senior management, its Board  of Directors and the 186 countries shareholders of the World Bank Group.</em></p>
<p><em>In February 2010, she became the European Commissioner for  International Cooperation, Humanitarian Aid, and Crisis Response in the  second commission of Jose Manuel Barroso. She was nominated by the  Bulgarian government of the GERB party and Prime Minister Boyko Borisov  after the initial Bulgarian candidate – then Foreign Minister Rumiana  Jeleva – gave an unconvincing performance during her European Parliament  hearing, which was also marred by allegations that she was involved in a  conflict of interests.</em></p>
<p><em>Georgieva is married, and has one child. She is fluent in English  and Russian, and has basic knowledge of French.</em></p>
<p><strong>After working at top positions at the World Bank for more  than 15 years, you are now an EU Commissioner. What are the major things  that you have brought to the EC from your World Bank experience?</strong></p>
<p>I bring to the European Commission four things from my 18 years of  work in a truly global institution.</p>
<p>The first is a global approach, and a global professional network. I  was very fortunate to be at the World Bank at a time of tremendous  transformation around the world, to build up first-hand knowledge from  more than 70 countries, and participate in important negotiations at  national, regional and global levels.</p>
<p>The second is my operational experience in developing countries in  coping with really complex problems that affect people’s lives. This  experience is directly relevant for the humanitarian aid portfolio I am  in charge of in the European Commission. Probably the most important  thing in that respect is that I have been touched by the many human  stories I came across in my work, and carry a deep sense of commitment  to the people who need help.</p>
<p>Let me give you just one example. One of the places where I have  worked is Sumgayit in Azerbaijan. In the 1090s, Sumgayit had the highest  mortality rate in the former Soviet Union for children under 5 years of  age. The problem there was industrial pollution. Not only did we have  to solve this problem, but we also had to create a platform and  conditions so it would never emerge again.</p>
<p>At that time there were many competing priorities and making Sumgayit  one of the top ones was not easy. I believe it was my closeness to the  problem and to the people which helped me make their case in the high  corridors of power, in the Government and at the World Bank.</p>
<p>The third thing I bring is related to one of the big tasks before us  at the European Commission &#8212; the creation of a strong and reliable  European system for crisis response. This is one of the issues that  unite the European citizens – more than 90 percent of them want to see  Europe acting as one when a disaster hits.</p>
<p>While working in the World Bank, I was responsible for a long time  for developing a program to address climate change. This experience is  directly relevant to my portfolio. It has helped me think about fighting  disasters as a sequence of four equally important steps – preparedness,  prevention, response, and rehabilitation. This cycle has to be applied  in Europe.</p>
<p>And finally, fourth, I have a sound knowledge of economics, which is  very helpful in my work, including when the EC discusses topics relevant  to Bulgaria.</p>
<p><strong>Even though they are both part of “the West”, the United  States and Europe are different in their ways of thinking and doing  things in politics, economics, and society. What are the things that the  EU should learn from the US?</strong></p>
<p>It is good to have diversity of cultures. I don’t expect and don’t  want to see Europe exactly the same as the US, and the US exactly the  same as Europe. But we can learn from one another, and I think there are  two things that the EU can learn from the way things are done in the  USA.</p>
<p>The first one is the feeling of optimism and the desire to always  seek a positive angle, and to mobilize people on these grounds even in  the most complicated conditions.</p>
<p>The second is that there isn’t much relying on the government in the  US. People there rely on themselves, first and foremost. There is this  notion that responsibility starts from the individual. This can be very  useful for Europe especially as we have years of belt tightening ahead  of us.</p>
<p><strong>The EU has no “hard power”. In international affairs it  relies primarily on the so called “soft power” of which humanitarian aid  is a crucial part. How do you see the importance of your portfolio for  the development of the foreign policy of the EU? Can it help the EU  acquire the international influence that it needs?</strong></p>
<p>The EU’s relations with people in need in the rest of the world are  based on the principle of solidarity – and rightly so, because this is  the very foundation of our Union. It is not easy to show solidarity and  compassion for someone else’s grief in a hard moment, all the more so  when you have got problems at home. But when you do so, it leaves a  lasting positive impression, and creates a very good image of Europe and  Europeans around the world.</p>
<p>Humanitarian aid has one very important quality – it is politically  neutral. In this respect, I don’t think of my portfolio as an instrument  of EU’s policies. I see it as a demonstration of Europe’s values, and  as the softest of the “soft power” that you are referring to &#8211; but also  as the one thing that can truly touch the hearts and, therefore, the  minds of people around the world.</p>
<p>An example of how it works is my very first policy initiative as the  EU Humanitarian Aid Commissioner, adopted on March 31, 2010. It led to a  change in the EU food assistance policies &#8211; we made a very important  decision to provide food aid without binding it to our own food  surpluses.</p>
<p>We require from our partners, such as the World Food Organization, to  first check and see if they can procure the food we need for emergency  assistance on the local or the regional market. Only when they are  unable to find it there, or when it is too expensive locally, they can  buy it from foreign markets, including the EU.</p>
<p>The reason for this new policy is very simple – bringing cheap food  from Europe may feed the hungry today, but it may ruin the local farmers  and cause more hunger tomorrow. Humanitarian action has to meet the  urgent needs around the world, but it also has to be part of a wider  development platform – because humanitarian crises are going to  disappear only when countries achieve progress in their own development.</p>
<p><strong>In your capacity of an EU Commissioner in charge of a foreign  policy portfolio, how do you see the development of the EU several  months after the coming into force of the Lisbon Treaty? Do you think  the EU should become a “super-state” with full-fledged foreign, security  and defense policies and respective institutional apparatus?</strong></p>
<p>The process of integration within the EU must continue to deepen.  This is absolutely clear and unconditional. We have witnessed the  necessity of deepening integration in the context of reacting to the  economic crisis.</p>
<p>In my portfolio, this means advancing the mapping of resources for  crisis response that our member states have, and using them more  efficiently, so that we can make the whole bigger than the sum of its  parts.</p>
<p>In the foreign policy field, perhaps the most important thing at  present is the setting up of the External Action Service so that there  can be an institutional platform for a more consolidated European  foreign policy. I am doing everything I can to support the EU High  Representative for Foreign Affairs and Security Policy, Lady Ashton, in  her work.</p>
<p><strong>You’ve mentioned the EU response to the economic crisis. As  an economist and a former Vice President of the World Bank, what do you  think of the predictions made by a number of top global analysts – from  Nouriel Roubini to Joseph Stiglitz – that the euro zone and the common  European currency are likely to collapse as a result of the financial  crisis in Greece and trouble in other Southern European states? Do you  think that the bailout plan for Greece adopted by the EU and the  International Monetary Fund is sufficient to resolve the existing  problems?</strong></p>
<p>Not so long ago there were predictions and forecasts about the end of  the US dollar, now it is the euro’s turn. The euro will survive this  crisis – and the euro zone will continue to attract new applicants. Just  last week we at the Commission gave a green light to Estonia’s  application.</p>
<p>The euro is facing threats on two fronts. On the one hand, there is  the “objective” threat of the increased budget deficits, both in the  euro zone and in the rest of the EU. Most countries have deficits that  are higher than the 3 percent threshold in the EU’s growth and stability  pact, stemming from the need to finance anti-crisis measures.</p>
<p>The second attack against the euro comes from speculators who are  trying to use the fluctuations of the exchange rate. When there is a  large-scale attack against a certain currency, there are consequences.  But the exchange rate of the euro – and of the euro zone and the EU as a  whole – objectively is based on the strength of our economies. The EU  is about one-fourth of the global economy, we are the major trading  partner of a lot of countries (and for the export sectors the lower  exchange rate for the euro is actually a good thing).</p>
<p>Of course, we should not dismiss the concerns about the euro  light-heartedly. There is a risk for Europe’s future if we don’t take  measures to keep the deficits under control, and to make our economies  more competitive. But I am confident we will take these measures and  that the euro is here to stay.</p>
<p><strong>Do you agree with the criticism that the present trouble of  the euro zone is not so much the fault of Greece and Southern Europe,  but of France and Germany who “torpedoed” the Stability and Growth Pact  several years ago?</strong></p>
<p>In the period when the euro was only rising in value, and the only  concern was how this affected the export capabilities of the euro zone  members, all countries, including France and Germany, were more relaxed  about the need for a truly consolidated, unified policy.</p>
<p>I dare say – however unreal this may sound – that what happened in  Greece may serve the whole EU well. It is a real wake-up call, from  Germany and France to Greece and the rest, and made us realize that we  cannot play around with the Stability and Growth Pact, we have to  respect it, and work hard for it, so that it works for all of us.</p>
<p><strong>Given the present situation with Greece and the euro zone, do  you think the Bulgarian government should keep aspiring with all means  possible to enter the ERM II and the euro zone, or should it slow that  process down and wait?</strong></p>
<p>For a country like Bulgaria whose currency is pegged to the euro  under a currency board, joining the euro zone is a logical step.</p>
<p>The alternative is to unbind the Bulgarian lev from the euro, which  is totally pointless for an economy already so deeply integrated with  the euro zone. This will only create a potential for a destabilization  of the Bulgarian economy.</p>
<p>Bulgaria has benefited more than it has lost from the currency peg.  Of course, it is not easy to be pegged to a strong foreign currency,  such as the euro – and in this sense, a lower euro exchange rate has  some advantages. At present, Bulgarian companies exporting their  products outside the euro zone are benefiting from the lower euro  exchange rate and this strengthens their competitive advantages.</p>
<p>Leaving aside what is happening with Bulgaria’s neighbors and with  the euro zone, and taking into account only the measures that the  Bulgarian government is implementing in order to be a candidate for the  waiting room, we should say that these measures are in themselves good  for the Bulgarian economy, especially under the present conditions.  Therefore, the Bulgarian government should stick to its goal to enter  the waiting room, ERM II, and the euro zone. It has to evaluate  realistically its capabilities and to find the best moment for that.</p>
<p><strong>The Bulgarian government of the GERB party and Prime Minister  Boyko Borisov are often criticized for acting primarily tactically by  focusing its attention on operational tasks but that it lacks a grand  strategy for the nation. In your view, what must be the grand strategy  of the Bulgarian government? That is, what sectors of the economy should  Bulgaria concentrate on in order to achieve a better standard?</strong></p>
<p>This government came to power in time of great uncertainty around the  world. In the conditions of a very complex and protracted crisis  countries are careful to say that they have a grand strategy, and are  promptly following it. The present economic crisis is like a tunnel with  many turns inside it – you can see every now and then that there is  light at the end of the tunnel but you keep losing it.</p>
<p>In addition, GERB is a party which has not been in power before, with  people who have not been in the government and are now learning to work  as a team.</p>
<p>It is these two reasons that explain why sometimes the Borisov  government takes decisions that later have to be revised and corrected.  But I think that in the recent weeks the government’s positions,  especially the clear commitment to reforms, shows they are learning from  experience and keeping focused on implementing their pre-elections  promises.</p>
<p>As far as the grand strategy is concerned, the Borisov government  says it has three priorities – and so far it has been sticking to them.</p>
<p>First, restore people’s trust in law. Second, preserve fiscal  discipline and keep the budget deficit under tight control &#8212; which in  the current situation, in the context of the Greek case, is extremely  important for Bulgaria. And third, focus on economic anti-crisis  measures, especially in infrastructure, where we can create jobs  quickly, and can give people all over the country the feeling that  something is improving in their daily lives.</p>
<p>Of course, the government has to go all the way with reforms in the  healthcare, pension, education and justice systems – but there has to be  one economic sector where there is tangible change, and this sector  should be structurally important for all the other sectors – for  everyday life, for tourism, for trade, for the investors that we wish to  attract.</p>
<p>These are things that I have spoken of before – and especially that  there has to be one engine of growth which is understandable for the  Bulgarians, which is not that complicated in terms of management so that  it can bring quick results, and which has EU funds available for  absorption to fuel it. This is what the government needs to do for the  Bulgarians to feel that something is changing for the better despite of  the crisis.</p>
<p><strong>You have declared you support and affiliation with the  government of the GERB party and Prime Minister Boyko Borisov. Why did  you select exactly this government and this political party in order to  appear in Bulgarian politics by filling the key position of Bulgaria’s  EU Commissioner?</strong></p>
<p>Let me first say that only a couple of weeks ago I swore in  Luxembourg in front of the European Court of Justice not to serve any  national government – this of my country, or any other.</p>
<p>So I will focus on the part of your question that predates my job as  EU Commissioner – why I accepted first to be an advisor to the Prime  Minister and then the nomination of this Government to become EU  Commissioner.</p>
<p>I did this for two reasons. The first one is that this government  came on the wings of the hope of 2 million Bulgarian voters. It came  with ideas that I share and with people showing that they really care  about restoring the Bulgarians’ belief in their state in a really hard  moment. In a very complex global situation there is one party that  mobilizes the hopes of the Bulgarians but does not have a long history  or much expertise, and needs expert support. This is the first reason I  have supported them.</p>
<p>The second reason is that Mr. Borisov &#8212; and his team – has adopted a  very direct and open approach. Wen he called me in Washington about the  EU Commissioner nomination, and said, “We are in a very tough  situation, we need support,” he did that very directly and honestly &#8212;  and the only possible answer on my part was “yes.”</p>
<p><strong>You were practically the last trump card of the Borisov  government in the crisis with the nomination for Bulgarian EU  Commissioner, and you have emerged as one of the best specialists that  Bulgaria has produced on the international level. What has to happen for  Bulgaria to be able to “produce” more “Kristalinas?”</strong></p>
<p>Bulgaria has got to have more confidence in itself, and to cheer more  for its people. We must show pride for our “brand Bulgarians”, whenever  they are. I think this will help more Bulgarians stand up and serve  their country.</p>
<p>www.novinite.com</p></div>
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		<title>Parma Signs Bulgaria&#8217;s Bojinov From Manchester City in Days</title>
		<link>http://bulgarianbusiness.org.uk/parma-signs-bulgarias-bojinov-manchester-city-days/</link>
		<comments>http://bulgarianbusiness.org.uk/parma-signs-bulgarias-bojinov-manchester-city-days/#comments</comments>
		<pubDate>Wed, 02 Jun 2010 10:39:11 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Sport]]></category>
		<category><![CDATA[Bojinov]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2400</guid>
		<description><![CDATA[Parma is expected to keep Valeri Bojinov permanently by reaching an agreement with Manchester City within days, Italian media reported. Reports suggest City want EUR 4 M for the hitman, who has made an impressive performance since joining the Ducali on loan last summer, scoring eight goals in 29 games. Parma however is expected to [...]]]></description>
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<p><img class="alignnone size-full wp-image-2401" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/06/bojinov.jpg" alt="bojinov" width="500" height="400" /></p>
<p>Parma is expected to keep Valeri Bojinov  permanently by reaching an agreement with Manchester City within days,  Italian media reported.</p>
<p>Reports suggest City want EUR 4 M for the hitman, who has made an  impressive performance since joining the Ducali on loan last summer,  scoring eight goals in 29 games.</p>
<p>Parma however is expected to try to bag him for much less – EUR 1 M.</p>
<p>Bozhinov, 23, says he is keen to stay in Italy.</p>
<p>www.novinite.com</p></div>
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		<title>Bulgaria Marks Day of Revolutionary Hristo Botev</title>
		<link>http://bulgarianbusiness.org.uk/bulgaria-marks-day-revolutionary-hristo-botev/</link>
		<comments>http://bulgarianbusiness.org.uk/bulgaria-marks-day-revolutionary-hristo-botev/#comments</comments>
		<pubDate>Wed, 02 Jun 2010 10:37:35 +0000</pubDate>
		<dc:creator>strumen</dc:creator>
				<category><![CDATA[Culture]]></category>
		<category><![CDATA[Bulgaria]]></category>
		<category><![CDATA[Hristo Botev]]></category>

		<guid isPermaLink="false">http://bulgarianbusiness.org.uk/?p=2397</guid>
		<description><![CDATA[Bulgaria marks Wednesday, June 2, the 134th anniversary of the death of one of the most prominent Bulgarians &#8211; the publicist, poet and revolutionary Hristo Botev, who gave his life for Bulgaria&#8217;s independence. The anniversary will be commemorated all over Bulgaria with official ceremonies and laying of wreaths. At precisely 12 noon sirens invite people [...]]]></description>
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<div id="attachment_2398" class="wp-caption alignnone" style="width: 510px"><img class="size-full wp-image-2398" src="http://bulgarianbusiness.org.uk/wp-content/uploads/2010/06/botev.jpg" alt="All those who fought for the freedom of Bulgaria followed the principle - &quot;Freedom or death&quot;. Photo by public-republic.com " width="500" height="368" /><p class="wp-caption-text">All those who fought for the freedom of Bulgaria followed the principle - &quot;Freedom or death&quot;. Photo by public-republic.com </p></div>
<p>Bulgaria marks Wednesday, June 2, the 134th  anniversary of the death of one of the most prominent Bulgarians &#8211; the  publicist, poet and revolutionary Hristo Botev, who gave his life for  Bulgaria&#8217;s independence.</p>
<p>The anniversary will be commemorated all over Bulgaria with official  ceremonies and laying of wreaths. At precisely 12 noon sirens invite  people to a minute of silence to pay their respect to Botev and all  people who have perished in the fight for Bulgaria&#8217;s independence..</p>
<p>Hristo Botev was born on December 25, 1847 in the town of Kalofer, in  the family of the teacher Botio Petkov and Ivanka Boteva.</p>
<p>From a young age, Botev was noticed for his intellect, talent and  rebel spirit. He left Bulgaria to study in Russia where he became  strongly influenced by Russian revolutionaries. He was expelled from  school and started working as a teacher as well as newspaper publisher,  collaborating with the entire revolutionary immigration.</p>
<p>Botev began writing poetry while still in school, under the influence  of the Bulgarian folklore and songs glorifying the &#8220;haiduts&#8221; &#8211; rebels  and outlaws fighting the Ottoman oppressors.</p>
<p>His first poetry book was published in 1875, together with Stephan  Stambolov, under the title &#8220;Songs and Poems from Botev and Stambolov.&#8221;</p>
<p>Botev&#8217;s poetry soon became very popular and his poems turned into  folklore &#8211; they were sung as folk songs without people even knowing  their author&#8217;s name.</p>
<p>After the start of the April Uprising, which had the goal to liberate  Bulgaria and is considered the apogee of the fight for independence,  Botev began organising a troupe to enter Bulgaria and help the rebels.</p>
<p>Botev and part of the troupe boarded the &#8220;Radezki&#8221; ship in Gurgevo  (Romania) on May 30, 1876. From the ship Botev sent articles describing  the grave situation of the Bulgarian people to several foreign  publications as well as his famous goodbye letter to his family.</p>
<p>The troupe convinced the German captain to let them leave the ship at  the Bulgarian port of Kozlodui and started moving in the direction of  the Balkan Mountains where most of the battles of the April Uprising  were taking place.</p>
<p>On June 2 Botev&#8217;s troupe engaged in its heaviest fight with the  Turkish army. Botev was hit by bullet and died at the foot of peak  &#8220;Vola&#8221; in the Balkan, near the town of Vratza.</p>
<p>June 2 was officially declared as the Day of Botev and of Those Who  Have Perished in the Fight for Bulgaria&#8217;s Independence on May 31, 1993  with a decision of the Council of Ministers.</p>
<p>www.novinite.com</p></div>
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