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 [...]
Bulgaria‘s economic growth is expected to slow-down to 1.2% in 2012 in the wake of the continued crisis in the eurozone and stagnant domestic demand, according to Citigroup analysts. GDP growth next year is forecast at 2.5%. Interestingly the financial institution warns that the next general elections, due in the middle of 2013, may undermine the implementation of key structural reforms in the coutry. Earlier this month Bulgarian analysts [...]
Bulgaria‘s jobless rate in will continue to increase in 2012 as the economy hovers on the brink of its second recession in three years in the wake of the slump in theeuro zone, analysts have warned. The unemployment rate stood at 11.5% last month with the total number of people who are unemployed towering to 376 171, up by 10,000 over the previous month, [...]
Bulgarian consumers‘ sentiments continue to trend downwards as prices of staple foods hit record highs, a survey shows. There was no hope for higher incomes among Bulgarians in the first quarter of 2012, while fuel prices remained the main factor for inflation, according to a poll, conducted by market research institute GfK. Consumers are afraid that the prices [...]
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 [...]
The Polish EU Presidency has stated Tuesday it backs the initiative of German Chancellor Angela Merkel and French President Nicolas Sarkozy to forge new rules to secure the financial stability of the EU. Poland, who is EU‘s rotational presiding member state until the end of 2012, will back all efforts to rescue the eurozone, said [...]
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 [...]
Bulgaria still wants to join the euro zone despite recent predictions that the single currency will collapse, Traicho Traikov, Bulgaria’s Economy Minister, told CNBC on Thursday. “I know now it’s fashionable to predict the end of the monetary union, but I think common sense will still dominate and it is going to survive. Of course, [...]
Bulgaria has done a wonderful job in meeting Schengen criteria and must join the free movement area as soon as possible, stated Luxembourg PM Jean-Claude Juncker, who is on a visit to Bulgaria Wednesday. In Varna, Juncker met his Bulgarian counterpart Boyko Borisov to discuss Bulgaria’s perspectives as an EU member, as well as bilateral [...]
I cannot see the eurozone risking a second recession, stated Luxembourg PM and Eurozone President Jean-Claude Juncker on an official visit to Bulgaria Wednesday. “The truth is that growth in the eurozone has slowed down, but that is due to external factors and does not warrant a new recession,” said the Eurozone president. He nevertheless [...]
Bulgaria’s Yuri Sterk Appointed EU Ambassador to Uzbekistan
Bulgaria Wins Concession as EU Agrees on Bank Capital Rules
Bulgaria Flooded Village Still Waiting for Rulers’ Generous Donation
Bulgarian Volleyball Star May Skip Olympic Games over Scandal
Famous Rose Harvest Festival Begins in Bulgaria
Bulgaria to Launch National Unit to Compensate Victims of Slow Justice
Bulgaria PM Makes U-Turn: Bonuses to Go to Sick Kids
