BUSINESS IN BRIEF

Business | June 26, 2001, Tuesday // 00:00

PEOPLE in Bulgaria have become poorer by 86.88% since 1997. Only 0.3% say they are well-off, Podkrepa trade union told a news conference. Bulgarians spend more than 53% of their incomes on food, which is an indicator of poverty according to the world standards. According to Podkrepa, 75% of the people are on the brink of
physical survival; consumption has shrunken 40% since 1997.

THE NEW parliamentary majority will have a couple of strong years, said prof. Krastyo Petkov, chairing the United Labour Bloc and elected MP of the Coalition for Bulgaria. No matter how quick the UDF recuperates after the defeat, no reasonable person would support a possible revenge policy of the defeated party, aimed at
destabilizing the country, he added.

THE CONSTITUENT assembly of the National Bureau of Bulgarian Automobile Insurers Association will be held in Rodina hotel on July 2, the organisers told the PARI daily. The assembly will adopt
statutes of the non-profit association and elect a board of directors and a chairperson. A decision will be made on the association`s participation in the Council of Bureaux, London, with a view of participating in the Green Card system as a party under the Uniform Agreement Between Bureaux. The assembly will also decide
which Bulgarian banks will have the right to issue bank guarantees in favour of the association.

THE DISCIPLINARY commission of the Institute of Certified Public Accountants have received 17 complaints against certified accountants for the last year, said Katya Dragiiska, chairing the
commission. Some of the complaints have been rejected by the commission, two have been followed by penalties imposed on the accountants by the finance ministry, seven have been accepted with consequent fines and 5 are still at the finance ministry, waiting for resolutions.

IN A DECLARATION to 13 newly elected MPs from the Burgas region the employees of the privatised sunflower oil refinery, Kambana, insisted on urgent measures for saving the company from bankruptcy. Former employees of the refinery have sent an open letter to all the political parties demanding revision of the deal with Hellian
Investment. According to them, the term in which the ministry of economy could interfere if breaches of the contract are established
expired in May.

A GREAT-GRANDSON of the genius composer Grieg, Mr John Grieg, will take the management of the Radisson SAS hotel. A COOPERATION bourse
was opened yesterday to boost the contacts between the 50 Bulgarian and 13 German firms that took part in the event.

THE HEALTHCARE ministry opened its new headquarters yesterday, at 39 Alexander Stamboliiski boulevard. The premises were reconstructed and refurbished for BGN 1 million. Part of the departments and sections will remain in the current offices, located at the Sveta
Nedelya square.

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