Expats

Bulgaria Looming Recession to Deal Heaviest Blow to Exports [May 07, 2012] As Bulgaria's economy hovers on the brink of its second recession in three years, analysts have warned the slump will take the biggest bite out of exports. Bulgarian export oriented companies are already feeling the chill from euro zone, but they are likely to suffering an even more painful contraction in orders as two-thirds of their production targets European markets. Exports, which used to ... [via YahooNews] More >>

Bulgaria Ethnic Turks Urge IMF Deal, Cite Looming Recession [Apr 26, 2012] Bulgaria's opposition ethnic Turkish party has joined socialists in calling for an urgent deal with the International Monetary Fund (IMF), saying the country badly needs it. "It is clear that Bulgaria's economy is about to enter recession. An agreement with the IMF, if not a panacea, will assure international financial markets that the country is stable," Yordan Tsonev, an economist and Deputy ... [via YahooNews] More >>

Bulgaria Economy Minister Claims Signs of Recession Recovery [Mar 05, 2011] The latest data on development of the Bulgarian economy showed that the country is going out of the recession, according to Bulgaria's Economy Minister Traicho Traikov. The minister is part of the Bulgarian delegation, which is on a three-day visit to Spain. He participated in a forum on economics and investments, organized by the Spanish Confederation of Employers' Organizations (CEOE), and ... [via YahooNews] More >>

Bulgaria boosts spirits by cutting brandy price [Feb 23, 2011] Bulgaria's government is seeking to boost spirits in the recession-hit Balkan country by cutting the price of its favorite brandy. [via YahooNews] More >>

Bulgaria Woos Investors From China, `Economy of 21st Century,' After Slump [Nov 30, 2010] Bulgaria seeks to attract Chinese investment in infrastructure, energy and export industries to bolster its economy after the country?s worst recession in a decade, Finance Minister Simeon Djankov said. [via YahooNews] More >>

Bulgaria's PM Watches His Ratings Slide [Oct 12, 2010] In contrast with its Balkan neighbours - Romania, Serbia and Greece - Bulgaria has survived two years of recession without having to seek an emergency loan from the International Monetary Fund. [via YahooNews] More >>

Bulgaria 'End of Recession' Enthusiasm Damped Down [Sep 30, 2010] A local analyst has warned that the rise in Bulgaria's seasonally adjusted gross domestic product may technically spell the end of recession, but does not mean that the crisis is over. [via YahooNews] More >>

Bulgaria GDP Grows 0.5% in Q2, Spells End of Recession [Sep 30, 2010] Bulgaria's gross domestic product marked an increase of 0.5% in the second quarter compared to the first three months of the year thanks to a rise in exports, pulling the country out of recession, the prime minister announced on Thursday. [via YahooNews] More >>

Bulgaria Trade Union Leader Warns of Social Cataclysms [Jun 14, 2010] As Bulgaria battles its first recession in twelve years, a trade union leader has forecast escalation of social tensions, particularly among state servants. [via YahooNews] More >>

Bulgaria to Stay in Recession by End-2010 - Analyst [Jun 11, 2010] Bulgaria, the European Unions poorest country, is currently going through its first recession in 12 years after a three-year lending boom stalled and foreign investment dried up. [via YahooNews] More >>

Bulgaria Economy to Grow 0.2% in 2010, Led By Exports, IMF Says [Jun 03, 2010] June 3 (Bloomberg) -- Bulgarias economy may expand 0.2 percent in 2010, led by a recovery in exports, and inflation will moderate after last years recession, the International Monetary Fund said. [via YahooNews] More >>

Bulgaria Govt to Sap Fiscal Reserve below BGN 4.5 B [May 27, 2010] Bulgaria's government has left loopholes in the revised 2010 budget bill to make possible tapping into the fiscal reserve below the minimum threshold as the country battles a deep recession. [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 Govt Taps into Fiscal Reserve to Fill in Gaps - Report [May 11, 2010] Bulgarias government has approved a revised 2010 budget law that taps into the fiscal reserve as it battles recession and seeks for ways to fill in gaps, reports say. [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 >>

(AFX UK Focus) 2010-04-28 18:05 Bulgaria rejects Russian loan for nuclear plant [Apr 28, 2010] SOFIA, April 28 (Reuters) - Bulgaria has for now rejected a Russian offer to fund its Belene nuclear power plant and will instead focus on finding a western/strategic investor for the project, Economy and Energy Minister Traicho Traikov said on Wednesday. In February, Moscow offered to provide up to 1.9 billion euros to recession-hit Bulgaria to keep the troubled project rolling and Sofia then ... [via YahooNews] More >>

Bulgaria Real Estate Report Q1 2010 - New Market Report Published [Apr 20, 2010] Bulgaria sits firmly in a recession at the moment and is likely to lag the rest of Europe in its recovery. [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 to introduce "luxury" tax to fight crisis (Sify News) [Mar 21, 2010] Bulgaria plans to introduce a tax on the rich and put a limit on public salaries as it battles a deepening recession and tries to keep down its fiscal deficit, Prime Minister Boiko Borisov said on [via YahooNews] More >>