European Union finance ministers have addressed Bulgarian concerns as they agreed on a plan to force banks to hold more capital to counter their risk-taking. After Bulgaria voiced concerns that banks may be forced to hold more capitalagainst the country’s sovereign debt, the EU ministers decided that banks in the country will not be obliged to report as risky the assets they hold in euros and will not be required [...]
May 20, 2012 | Posted in
Bulgaria-EU |
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Erste Group Bank AG, one of the four biggest lenders in the former communist part of Europe, keeps Bulgaria in its plans, but in the longer term, its chief executive has said. “If we look into the long term, the market we have to move into urgently – and urgently means for me sometime in the next 25 [...]
May 20, 2012 | Posted in
Finance |
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Bulgaria‘s growth continues to slow, mostly reflecting external headwinds, but there is room for optimism due to the expected euro area recovery in the second half of the year, IMF mission chief for Bulgaria has said. “Real GDP growth is projected to reach 0.8% in 2012, which is lower than our previous forecast. Growth is expected to rise moderately [...]
May 15, 2012 | Posted in
Finance |
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Bulgaria‘s government has gotten Georgia‘s authorities to agree to almost double the number of permits for Bulgarian freighters and transport companies, the Bulgarian Transport Ministry announced. After negotiations, Bulgaria and Georgia have agreed to increase the number of universal freighter permits (which are valid for both bilateral and transit services) from 800 to 1 500. The number of permits for/to a third party [...]
May 15, 2012 | Posted in
Business |
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Bulgaria‘s male national volleyballteam defeated Serbia in straight sets on Wednesday, booking its spot in the semifinals of the EuropeanOlympic qualifier in Sofia. The Bulgarian team delighted a massive crowd by beating traditional rival Serbia 3:0 3:0 (25-22, 25-16, 25-23) in the capital’s Arena Armeets sports hall. On Tuesday, the home boys downed Slovenia, also in straight sets. “I am very [...]
May 11, 2012 | Posted in
Sport |
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The official start of the summer tourist season will be given by the end of May, according to the Deputy Economy Minister in charge of the Tourist Industry, Ivo Marinov. The date is most likely going to be scheduled around the Day of Slavic Script and Culture, May 24, when Bulgarians get four days off, according to Marinov, who [...]
May 11, 2012 | Posted in
Tourism |
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All Bulgarian citizens are strongly advised to leave Syria as soon as possible, the spokesperson of Bulgaria‘s foreign affairs ministry has said. The Bulgarian Ministry of Foreign Affairs issued the same warning on March 17 and April 7, but on Thursday Vesela Cherneva repeated the calls. “We strongly advise all Bulgarian citizens to leave Syria as quickly as possible, while [...]
May 11, 2012 | Posted in
Diplomacy |
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Bulgaria should prudently increase the fiscal reserve and steer clear of reducing it,IMF mission has concluded at the end of its visit here. “Fiscal buffers need to be raised to safeguard resilience. At this juncture, it would be prudent to increase the fiscal reserve, and to avoid steps that would reduce it,” IMFmission chief Catriona Purfield said in [...]
May 10, 2012 | Posted in
Finance |
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The European Union‘s executive will suspend in the short term the excessivebudget deficit procedure against Bulgaria as the country has taken adequate steps to correct it, a deputy finance minister believes. Bulgaria‘s budget deficit dipped below the European Union limit of 3% of gross domestic product last year because of the government’s prudent fiscal management, Deputy Finance Minister Boryana Pencheva told MPs from the European affairs parliamentary committee. “Eurostat, the EU’s statistical agency, [...]
May 10, 2012 | Posted in
Finance |
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Since the beginning of the year, no money has been transferred to Bulgaria‘s Silver Fund, set up to anchor the public pension system, shows its balance sheet, published online by the finance ministry. Under local legislation the money in the Silver Fund comes from privatization deals, concessions, and budget surpluses (if any). The money the Bulgarian state got from [...]
May 10, 2012 | Posted in
Finance |
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