Expats

Bulgaria Narrows Trade Deficit in 2010 H1, Strong Export in July [Aug 14, 2010] A substantial growth of Bulgaria's export coupled with a modest rise of the import has helped the country narrow its foreign trade gap in the first half of 2010, preliminary data shows. [via YahooNews] More >>

Bulgaria's Trade Deficit Down by 40% in January-May 2010 [Jul 13, 2010] The gap between Bulgarias import and export is closing as the countrys trade deficit is down by 39.7% in the first five months of 2010 year-on-year. [via YahooNews] More >>

Bulgaria PM: No Tax Hikes by 2012 [Jul 08, 2010] Bulgarias prime minister has denied reports that a hike in tax rates may be looming after the government scrapped its plans for a VAT increase this year, which was hoped to plug a budget gap that has thwarted the new EU member's euro efforts. [via YahooNews] More >>

Bulgaria FinMin: No Axe for the Flat Tax by 2011 [Jul 02, 2010] Bulgarias finance minister has denied reports that a removal of the flat tax rate may be looming after the government scrapped its plans for a VAT increase in a bid to plug a budget gap that has thwarted the new EU member's euro efforts. [via YahooNews] More >>

Bulgaria Social Security Institute Faces Swelling Budget Gap [Jun 25, 2010] Bulgarias National Social Security Institute has voiced an alarm over the decreasing levels of collectability and the threat of a widening budget gap. [via YahooNews] More >>

Bulgaria Mulls Personal Tax Rate Hike [Jun 21, 2010] Bulgarias government recently scrapped its plans for a VAT increase in a bid to plug a budget gap that has thwarted the new EU member's efforts to join the euro in the near future, but now a hike in the personal tax rate is looming. [via YahooNews] More >>

Bulgaria FinMin: Yes to Tapping into Reserve, No to VAT Hike [May 23, 2010] Bulgarias finance minister has confirmed the government will not raise the 20% flat-rate value added tax (VAT) in a bid to plug a budget gap that has thwarted the new EU member's efforts to join the euro in the near future. [via YahooNews] More >>

IMF Warns Bulgaria against Tapping into Fiscal Reserve [May 18, 2010] The International Monetary Fund has advised Bulgaria's government to consider all available options before tapping into the fiscal reserve to battle recession and fill in the budget gap. [via YahooNews] More >>

Bulgaria FinMin: Revised Budget 2010 Taps into Fiscal Reserve [May 16, 2010] Bulgaria's finance minister has confirmed reports that the revised 2010 budget law taps into the fiscal reserve as the government battles recession and seeks for ways to fill in the budget gap. [via YahooNews] More >>

Bulgaria Decides on VAT Hike after Series of U-Turns [May 05, 2010] Bulgarias government is expected to decide on Wednesday whether to temporarily raise Bulgaria's 20% flat-rate value added tax (VAT) by up to 4% in a bid to plug a budget gap that has thwarted the new EU member's efforts to join the euro in the near future. [via YahooNews] More >>

(AFX UK Focus) 2010-05-03 09:59 Bulgaria's budget deficit rises to $1.1 bln in Q1 [May 03, 2010] SOFIA, May 3 (Reuters) - Bulgaria's budget deficit rose to 1.67 billion levs ($1.13 billion) in the first three months of 2010 due to falling revenues and increased spending on pensions and delayed payments to businesses, the finance ministry said on Monday. The deficit expanded by 270 million levs in March alone, bringing the total gap for the first quarter to 2.4 percent of gross domestic ... [via YahooNews] More >>

Bulgaria Mulls VAT Increase to Plug Fiscal Gap [May 03, 2010] The government is planning to temporarily raise Bulgaria's 20 percent flat-rate value added tax (VAT) by up to 4 percent in a bid to bridge a budget gap that has thwarted the new EU member's efforts to join the euro in the near future. [via YahooNews] More >>

Bulgaria Says Goodbye to Early Euro Accession [Apr 24, 2010] Bulgaria has to put off plans to join the euro area entry mechanism after its 2009 revised budget gap exceeded the thee percent EU threshold. Instead the European Commission is to target the new member state with an excessive deficit procedure. [via YahooNews] More >>

(AFX UK Focus) 2010-04-01 11:26 Bulgaria budget deficit jumps to $966 mln by end-Feb [Apr 01, 2010] SOFIA, April 1 (Reuters) - Bulgaria 's budget deficit bulged to 1.4 billion levs ($966 million) by the end of February due to falling revenues and increased spending on pensions and EU-backed projects, the finance ministry said on Thursday. The deficit almost tripled from a gap of 499 million levs in January, as prolonged recession hit the European Union's poorest member. The total for the first ... [via YahooNews] More >>

Bulgaria Budget Deficit Ups to BGN 500 M in Jan (Novinite.com) [Mar 02, 2010] Bulgaria's budget deficit in January almost equaled the gap for the entire 2009, but still remained lower than the initial forecasts of the new finance minister, official data showed on Tuesday. Bulgaria had a deficit of BGN 499 M in January versus BGN 498.9 M in 2009 as a whole. [via YahooNews] More >>