Bulgaria’s Deputy Prime Minister and Finance Minister, Simeon Djankov, is on an official trip to Talin, Estonia on Monday, the Finance Ministry informs. Djankov met with his Estonian counterpart, Jurgen Ligi, to discuss Estonia’s candidature for Eurozone entry. Ligi presented his cabinet’s measures for their successful austerity fiscal policy regarding the budget deficit. Estonia’s budget [...]
June 2, 2010 | Posted in
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Bulgarians begin earning money for themselves Tuesday after working for the State since January 1 until the end of May. The so-called “Day of Freedom from the State” was forecast for June 1 by the Institute for Marker Economy, according to the initial 2010 budget estimates. This is the day when working Bulgarians should have [...]
June 2, 2010 | Posted in
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Bulgaria, which runs one of Europe’s tightest fiscal polices, has ended April 2010 with a preliminary budget surplus of BGN 213 M, the finance ministry said on Tuesday. “We expected that April will mark a turning point and will be indicative for the state of the economy and we were right,” Finance Minister Simeon Djankov [...]
May 5, 2010 | Posted in
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A day after the European Commission said it would launch a discipline procedure against Bulgaria for exceeding the deficit ceiling of 3% of GDP, the country’s commissioner in Brussels have tried to quell panic reactions. “Bulgaria faces no risk of being punished because of a higher [than the EU norms] budget deficit,” Bulgarian Commissioner Kristalina [...]
April 24, 2010 | Posted in
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Moody’s Investors Service has lowered Greece’s sovereign ratings to A3 from A2 and placed them on review for further possible downgrade. The move is based on Moody’s view that there is a significant risk that debt may only stabilize at a higher and more costly level than previously estimated, the ratings agency said. The review, [...]
April 24, 2010 | Posted in
Bulgaria-EU |
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The European Commission has announced it will start a budget discipline procedure against Bulgaria after Eurostat released data showing the country’s 2009 budget deficit doubled to 3.9%. “The Commission will take steps envisaged in such circumstances… It will draft the recommendation on the deficit procedure,” European Commissioner Amadeu Tardio said as cited by bTV. In the [...]
April 24, 2010 | Posted in
Bulgaria-EU |
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The European Union’s official statistics agency Thursday said the Bulgarian budget deficit in 2009 was wider than the government had estimated, even though Sofia recently revised upwards its last year’s fiscal gap due to a hidden deficit. In the first of its twice-yearly reviews of government finances in the 27-member bloc, Eurostat said the Bulgarian [...]
April 24, 2010 | Posted in
Bulgaria-EU |
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Bulgaria’s Borisov government intends to abolish the bonuses of civil servants ahead of schedule. The so called “additional material incentives” are allocated to the Bulgarian state administration employees every quarter. The government planed to slash the premiums as part of a larger reform the administration’s payment system in 2011. However, the change will probably come [...]
April 12, 2010 | Posted in
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Bulgaria’s budget deficit almost tripled since the beginning of the year to a record-high of BGN 1,4 B by the end of February, the finance ministry said on Thursday. The budget deficit for the first two months of the year accounts for nearly 2% of the gross domestic product (GDP) for this year, as envisaged [...]
April 9, 2010 | Posted in
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Bulgaria’s former Finance Minister, Plamen Oresharski, has declared he was concerned about certain clauses in the 2010 State Budget Act. Oresharski said the 2010 state budget was not balanced. And even though the envisaged deficit of 0,7% was minor, there were provisions in the law saying that the deficit could be increased. This means the [...]
November 22, 2009 | Posted in
Finance |
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