Peyo Yavorov: The Genius of Bulgarian Poetry
“The fate of Yavorov inevitably shakes the sensitive hearts!” - Katya Zografova “The Worlds of Yavorov”
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The business in Bulgaria has hit rock bottom with 50% of businesses facing law suits over unpaid debt.
The data comes from a study for the first half of 2012 of the Chamber of Private Law Enforcement Officers, cited by the Bulgarian Standard daily.
Hotel owners, construction businesses and merchants have the most debt.
106 000 law suits have been filed since the beginning of the year and expectation are they will exceed 200 000 by its end, which is 20% higher, compared to previous years.
Over the huge accumulated obligations from one company to another, more and more businesses sue each other instead of banks, whose share in the filed cases is just 31%.
The private law enforcement officers expect to collect by the end of 2012 over BGN 1 B from indebted businesses, meaning only BGN 100 000 will enter State coffers in the form sales fees and Value Added Tax, VAT.
In 2011, law suits for BGN 1.7 B were filed. Private law enforcement officers have collected a total of BGN 2.8 since 2005, the year of their establishment, while the amount will topple BGN 1 B only in the course of 2012.
The southern city of Stara Zagora is first by the number of bankruptcies and ranks second, only after the capital Sofia, by the number of sold foreclosed properties.
Blagoevgrad is third, mainly because of hotels in the winter resort of Bansko, followed by Plovdiv, Varna and Burgas.
Most of the sales are those of hotels – for nearly BGN 40 M in the first six months of 2012, followed by commercial properties – offices, production shops, stores – BGN 14 M.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
According to the National Statistical Institute, the overall business climate indicator in March 2024 remains stable compared to February, hovering around 23%
The concessionaire company Fraport Twin Star Airport Management announced that Burgas Airport will kick off the active flight season with its first flight since Bulgaria's entry into the Schengen area by air, scheduled for the end of March.
During debates on a draft decision concerning the Bulgarian Energy Holding, Minister of Finance Asen Vassilev announced that Bulgaria is on the brink of entering the Eurozone as it meets the inflation criterion
"Bulgarian Railways" (BDZ-Passenger Services EOOD) has inked a contract with Deutsche Bahn for the supply of 76 state-of-the-art passenger wagons
After nearly a decade-long absence, the renowned French retail chain Carrefour has made a triumphant return to Bulgaria, marking its comeback with the opening of two supermarkets in Sofia
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022