Expats

Bulgaria To Avoid VAT Hike, [May 26, 2010] Determined to consolidate the countrys budget deficit, Bulgarias Finance Minister Simeon Djankov has announced plans to implement a 20% cut in public spending, rather than raising the 20% value-added tax (VAT) rate. [via YahooNews] More >>

(AFX UK Focus) 2010-05-05 11:46 UPDATE 1-Bulgaria to cut public spending by 20 pct in 2010 [May 05, 2010] SOFIA, May 5 (Reuters) - Bulgaria will cut public spending by 20 percent this year for total savings of some 900 million levs ($606.9 million) as it battles a deep recession, Finance Minister Simeon Djankov said on Wednesday. The Balkan country, whose economy contracted 5 percent last year, has been forced to take draconian action and seek ways to boost sagging revenues to keep its budget ... [via YahooNews] More >>

Bulgaria Economists Urge Govt to Cut Public Spending (Novinite.com) [Mar 23, 2010] Bulgaria urgently needs to reduce public spending, despite the possibility of social unrest, if it is going to avoid the financial instability of countries such as Greece, leading financial analysts say. [via YahooNews] More >>