Expats

Bulgaria Adopts 1.35% Budget Deficit for 2012 [Dec 09, 2011] Bulgaria?s Parliament has adopted at second reading the framework for the 2012 state budget within the debates on the 2012 State Budget Act late Thursday night. Thus, the MPs sealed the key figures in Bulgaria's draft budget for 2012, as defended by Minister of Finance Simeon Djankov, including a budget deficit of 1.35% of GDP, or about BGN 1.... [via YahooNews] More >>

Bulgaria's Budget Makes BGN 300 M from Brewing Industry [Nov 30, 2011] Bulgaria's brewing industry brings the state budget some BGN 297 M annually, according to the Chair of the Bulgarian Brewers' Union and General Manager of Heineken Zagorka Ruud van den Eijnden. The total added value of the Bulgarian beer production and distribution is estimated at BGN 219 M, Ruud van den Eijnden said at the Fall Beer Fair of the Brewers Union in Bulgaria. He further revealed ... [via YahooNews] More >>

Fitch: Bulgaria's Budget Positive, Euro Zone Clouds Outlook [Nov 17, 2011] Bulgaria's 2012 state budget that was just approved by the Parliament in Sofia should put the country on a path to further reduce its deficit, international credit rating agency Fitch said. In a statement released Thursday, a day after Bulgaria's 2012 budget was adopted, Fitch made it clear it views Bulgaria's Outlook as Positive but that it is unlikely that the rating would be upgraded without ... [via YahooNews] More >>

Bulgaria Strengthens Schengen Bid with New Cash Injection [Oct 17, 2011] Bulgaria's Ministry of Internal Affairs has received a new cash injection of BGN 10 M (approximately EUR 5 M) from the state budget in order to carry out urgent measures concerning its Schengen entry bid. A total of BGN 5.9 M will be spent on implementing border scanning devices designed to detect illegal migrants hiding in vehicles.... [via YahooNews] More >>

Bulgaria Ups Its Minimum Wage to BGN 270 [Sep 01, 2011] Starting Thursday, the minimum monthly wage in Bulgaria grows from BGN 240 to BGN 270 (EUR 137). According to the country's Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 ? 20 M. However, the private sector's expenses will be much higher, the Dnevnik daily points out. ... [via YahooNews] More >>

Bulgaria Interior Minister Denies Conflict with Fellow PM [Aug 17, 2011] Bulgaria's Interior Minister Tsvetan Tsvetanov, firmly denies reports of being in discord and in conflict with fellow Deputy PM, Finance Minister, Simeon Djankov. In a Wednesday morning interview for the Bulgarian National Television, BNT, Tsvetanov attempted to calm the situation after snubbing Djankov a day earlier, shortly after the latter suggested that the 2012 state budget should redirect ... [via YahooNews] More >>

Bulgaria's Interior Minister Blasts FinMin over 'Police vs. Education' Funding [Aug 16, 2011] Bulgaria's Interior Minister Tsvetan Tsvetanov has snubbed his fellow Deputy PM, Finance Minister Simeon Djankov, shortly after the latter suggested that the 2012 state budget should redirect funds from the security sector to education. "Simeon Djankov is not the person who will say how the budget of the nation will be distributed," Tsvetanov declared Tuesday afternoon, as cited by the Focus ... [via YahooNews] More >>

Bulgaria to Save BGN 8 M from Combining Local, Presidential Elections [Jul 01, 2011] Bulgaria is going to save about BGN 8 M by opting to hold the upcoming presidential and local elections together, according to Finance Minister Simeon Djankov. Speaking in Parliament Friday, Djankov explained that BGN 26 M have been slated under the 2011 State Budget Act for the holding of the double vote in the fall of 2011. Individual elections (i.... [via YahooNews] More >>

Bulgaria's Budget Sinks Deeper in May, Fiscal Reserve Up Slightly [Jul 01, 2011] Bulgaria's state budget registered a monthly deficit of BGN 45 M in May 2011, according to latest data of the Finance Ministry. The new monthly deficit comes after in April the Bulgarian budget enjoyed a surplus of BGN 190 M, which, however, was due to the annual contribution of the Bulgarian National Bank to it. Thus, in the first four months of 2011, Bulgaria's Consolidated Fiscal Program ... [via YahooNews] More >>

Bulgaria Constitutional Court Rules in Favor of Filmmakers [Apr 05, 2011] Bulgaria's Constitutional Court (KS) annulled Tuesday article 38 of the State Budget Act, which gave the government the right to not slate any funds for the film industry. This was one of the filmmakers' conditions to lift the threat of large-scale protest rallies. The Film Industry Act provides for a regular annual subsidy, based on the average budget, to fund at least 7 motion pictures, 14 ... [via YahooNews] More >>

Bulgaria's FinMin Firm on Not Hiking Minimum Wage [Mar 29, 2011] Bulgaria's Labor Minister Totyu Mladenov should find the money if he insist on increasing the minimum monthly wage, said Finance Minister Simeon Djankov. "If he wants an increase of the minimum monthly wage, he should find the necessary money. The state budget does not have spare money for this," Djankov said on Tuesday, confirming once again his position on the proposal by Mladenov to up the ... [via YahooNews] More >>

Bulgaria's New Anti-Corruption Unit to Cost BGN 2 M per Year [Feb 20, 2011] The newly established Center for Prevention of Organized Crime and Corruption (BORKOR) will cost the Bulgarian state budget BGN 2 M per year, according to the unit's head, Rumen Milanov. "The project for BORKOR began implementing during the previous government. This is a new approach, which has not been implemented in Bulgaria.... [via YahooNews] More >>

Bulgaria's FinMin Rejects Again Upping Minimum Wage [Feb 08, 2011] Bulgaria's Finance Minister, Simeon Djankov, has reiterated his position that there is not enough money in the 2011 state budget for increasing minimum monthly wage. His statement came in response to Bulgaria's Social Policy and Labor Minister, Totyu Mladenov, who suggested earlier on Tuesday a proposal to increase minimum monthly wages by BGN 30, beginning July 1. Djankov suggested amending the ... [via YahooNews] More >>

Bulgaria Back in Emissions Trade Game as It Regains Kyoto Accreditation [Feb 05, 2011] Bulgaria has achieved the much desired restoration of its accreditation for the international trade with greenhouse gas quotas by the UN Committee for Compliance with the Kyoto Protocol. Bulgaria's Environment Ministry announced Saturday the permit to trade with Bulgaria's carbon quotas ? which is expected to bring in fresh revenues for the state budget ? was restored during the 12th meeting of ... [via YahooNews] More >>

Bulgaria FinMin Ignorant of Losses from Contraband [Feb 04, 2011] Bulgaria's Minister of Finance Simeon Djankov has admitted he has no exact figures regarding losses to the state budget from smuggling. When asked about that issue during question time in Parliament Friday by socialist MP Mihail Mikov, Djankov said that there is no statistics or official estimates about smuggling. "This makes for a lot of speculations among the public," stated the Minister of ... [via YahooNews] More >>

Bulgaria Likely to Register Smaller 2010 Deficit than Expected [Dec 30, 2010] Bulgaria registered a budget deficit of only 2.65% in the first eleven months of 2010, which is far below the state budget forecast of 4.8% for the entire 2010. [via YahooNews] More >>

Bulgaria's Rulers Adopt 2011 Budget Deficit of Almost 3% of GDP [Dec 03, 2010] Bulgaria's Parliament has adopted at second reading the 2011 State Budget Act after 15 hours of debates that went late into the night. The budget bill was adopted at second reading only with the votes of the ruling center-right party GERB and their allies from the nationalist party Ataka. [via YahooNews] More >>

Bulgaria's Rulers Adopt 2011 Budget Deficit Barely below 3% of GDP [Dec 03, 2010] Bulgaria's Parliament has adopted at second reading the 2011 State Budget Act after 15 hours of debates that went late into the night. The major difference between the bill adopted at first reading is the increase of the projected 2011 budget deficit from BGN 1.96 B to BGN 2.16 B ? or from 2.5% to about 2.75% of the GDP ? which, if it materializes, would still be below the 3% threshold set by EU ... [via YahooNews] More >>

Bulgaria to Gradually Up Excise on Raw Tobacco [Nov 07, 2010] Bulgaria will continue in a course of gradual raise in the excise of raw cut tobacco with state budget 2011, which previews a rate of BGN 130 per kg. This was revealed by ruling GERB party MP Dimitar Glavchev, who said that the Parliamentary Budget Committee has fully consulted all stakeholders in tobacco production when determining the rate at which the excise will be increasing. [via YahooNews] More >>

Bulgaria's Govt Bravely Ventures 3.6% Economic Growth in 2011 [Sep 29, 2010] Bulgaria's Cabinet has approved the draft 2011 State Budget Act, which projects an economic growth of 3.6% next year despite much criticism by the business sector describing this figure as "unrealistic." [via YahooNews] More >>