Nabucco Gas Pipeline International has launched a prequalification process as starting phase for the procurement of long lead items needed for the construction of the gas transit pipeline. The value of the entire package is around EUR 3.5 B, and the deadline for companies to participate in the prequalification is May 17, 2010. “Long lead [...]
wer Fearful of a replay of what has happened in Greece over the past year, the prestigious German newspaper Zuddeutsche Zeitung has called Bulgaria, suffering from new budget woes, the new “euro-fraudster”. “The nightmare is right next-door,” Zuddeutsche Zeitung wrote in an article about Bulgaria’s decision to delay plans to adopt the euro after it [...]
Bulgaria’s planned application to join ERM II, the exchange-rate mechanism that aspiring euro-zone members must join before adopting the common currency, was “not yet off the table” although chances “now are a lot dimmer,” the finance minister has said. Speaking in an interview for Wall Street Journal, Minister Simeon Djankov said about a third of [...]
The European Commission has not been informed about the sharp revision upwards in Bulgaria’s 2009 budget deficit caused by unaccounted procurement deals, a spokesman said. Last week Bulgaria’s Prime Minister Boyko Borisov and Finance Minister Simeon Djankov said the previous Socialist-led government had kept them in the dark over BGN 2.16 B contracts, which pushed [...]
Bulgaria will decide how long it will have to keep on hold plans to join the eurozone after the meeting of EU finance ministers later this week, which will consider and assess the country’s convergence program. “Bulgaria will apply for ERM II, there is no doubt about that. The timing will be decided after we [...]
Interview with Toby Iles, analyst for Central & Eastern Europe at the Economist Intelligence Unit (EIU) After gaining a first class undergraduate degree from the University of Oxford, Toby Iles undertook further study at the University of Cambridge and the Diplomatic Academy of Vienna. Subsequent to this he joined the Economist Intelligence Unit (EIU) in [...]
Bulgaria’s aspirations to join the euro zone may be rewarded in no less than two decades, according to a leading European analyst. “It is hard to predict the exact timing, but before it joins the euro zone, Bulgaria will have to have obtained compete convergence not only in terms of fiscal requirements, but also in [...]
Bulgaria’s accession to the eurozone is primarily a political issue, the country’s president said in Brussels after conferring with Belgium’s Prime Minister Yves Leterme. Georgi Parvanov and Leterme were unanimous that Bulgaria is making a considerable progress in the justice and internal affairs field, which, according to them, is the reason to hope that the [...]
Not unlike America, Bulgaria should seek to become more energy independent, according to US Ambassador in Sofia, James Warlick. Warlick spoke Thursday before the member of the American Chamber of Commerce in Bulgaria. He pointed out that America was dependent on Middle Eastern oil, while Bulgaria relied on natural gas solely from Russia. “The [...]
Bulgaria and Azerbaijan signed two energy cooperation memorandums in Sofia Friday in the presence of the two country’s Presidents, Georgi Parvanov, and Ilham Aliyev. One of the documents was signed by Bulgaria’s Ministry of Economy, Energy, and Tourism, and Azerbaijan’s Ministry of Energy and Industry, the other one – by Bulgartransgaz, subsidiary of Bulgaria’s gas [...]
World Bank President Heaps High Praise on Bulgarian Govt
Bulgarian State Companies with New Orders for Bank Selection
World Bank President Robert Zoellick Heads for Bulgaria
Bulgaria Consolidates Control of Finance, Customs, Tax Authorities
Average Wage in Bulgaria Up 9% Q2 Y/Y
Bulgaria with Staggering Export Growth to Non-EU States in 2010 H1
Bulgarian State Railroads to Request Loan from World Bank
