Bulgaria's FinMin Vows to UK Investors to Keep Taxes Low
Bulgaria has no plans whatsoever to raise taxes during the lifetime of the present government, Bulgarian Finance Minister Simeon Djankov has told the British Bulgarian Chamber of Commerce.
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Business » Finance
S&P Downgrades Greece Rating to 'Selective Default'
Debt-crisis stricken Greece has seen its credit rating by Standard & Poor's slump from CC to SD, or selective default, meaning it allegedly cannot service some of its debts.
EBRD: Credit Squeeze Risk in Eastern Europe Still Acute
Eastern Europe remains at risk of a credit squeeze as western lenders cut funds to meet capital rules even after the European Central Bank's discount loans, the European Bank for Reconstruction and Development said.
Bulgarian FinMin: Medications' VAT Is to Remain
The Value Added Tax, VAT, on medications in Bulgaria will not be eliminated or lowered, Deputy Prime Minister and Finance Minister, Simeon Djankov, firmly declared.
Bulgarian Treasury Got Millions in State Cos Dividends
The State-owned companies have contributed as dividends BGN 174 M to the Treasury in 2011.
Bulgaria's Retirement Funds' Assets Grow by 15% to BGN 4.5 B
The assets of Bulgaria's retirement funds grew by 14.68% in 2011 year-on-year, a report of the Bulgarian Financial Supervision Commission shows.
FinMin: EC Ranks Bulgaria 5th in EU by Growth Forecast
Bulgaria's Finance Ministry has reacted to Thursday's drastic lowering of the European Commission economic forecast for the country with a relativistic approach.
EC Lowers Drastically 2012 Growth Forecast for Bulgaria
Bulgaria's economy will register a growth of 1.4% in 2012, according to the February Economic Forecast of the European Commission unveiled Thursday.
Fitch Downgrades Greece, Investors Nervous
Fitch rating agency has expectedly downgraded Greece's long-term ratings to its lowest rating above a default, the first of a serious of cuts the country can expect after the bond exchange plan to ease its massive debt.
Spain Faces High Budget Deficit, Pleads for EU Mercy
Spain plans to ask the European Union to allow its 2012 budget deficit to exceed 5% of gross domestic product, well above the limit of 3% of the GDP permitted by EU rules, the online edition of El Pais reported.
Croatia, Cyprus Up VAT to Combat Crisis
Croatia and Cyprus are about to increase their value added tax as the beginning of next month in a bid to cope with the crisis and rake in more revenues in the budget.
Barroso: 2nd Bailout Prevents Uncontrolled Greek Default
EC President Jose Manuel Barroso has praised the agreement in the Eurogroup on the second financial assistance program for Greece, which is worth EUR 130 B, and was reached late on Monday.
Bulgaria's Socialists: Ax the Flat Tax, Tax the Rich More
Four years after introducing the flat tax in Bulgaria, the country's Socialist party has made a U-turn with calls for scrapping it.
Bulgaria's Fiscal Reserve Shrinks to BGN 3.8 B
Bulgaria's fiscal reserve has decreased to BGN 3.8 B, the chair of the country's Parliamentary budget committee Menda Stoyanova has revealed.
Migrant Remittances Main Lifeline to Bulgaria's Economy 2011
Remittances - money sent by Bulgarian migrants to family members back home – continue to increase slightly, but steadily despite the global downturn, data from the central bank shows.
Bulgaria Registers 2.3% Inflation Y/Y in Jan 2012
According to the preliminary data, the consumer price index, CPI, in Bulgaria, in January 2012 compared to December 2011 was 100.2%, i.e. the monthly inflation was 0.2%.
Bulgaria's Economy Expands by 1.5% % in Q4 Y/Y
The Gross Domestic Product, GDP, in Bulgaria in the fourth quarter of 2011 increased by 1.5%, compared with the same quarter of the previous year.
Eurozone Suddenly Delays EUR 130 B Bailout for Greece
Eurozone finance ministers have cancelled at the last moment a meeting on the new EUR 130 B bailout package for Greece, which was due to take place on Wednesday.
Bulgaria Set to Raise Pensions, Budget Salaries in 2013
Bulgaria's government, trade unions, and business associations have agreed that retirement pensions should be raised as of January 1, 2013.
Bulgaria Still Wants to Join Euro, Holds Debt Rules Sacred
Bulgaria still wants to join the euro zone provided the bloc's members obey its rules on limiting debt, Traicho Traikov, Bulgaria's Economy Minister, said in an interview for German media.
Bulgarian President Reserved about Fixing Bank Rates
Bulgaria's President Rosen Plevneliev supports regulation of small credit lines, but has reservations about administrative regulation of bank interest rates.
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