Bulgarian Finance Minister Vows 'Stability Budget' for 2011
Bulgaria's Minister of Finance Simeon Djankov presented the draft budget bill for 2011 in front of four parliamentary committees Thursday, calling it "a budget of stability.
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Business » Finance
Bulgaria Economy Forecast to Slip into Depression
The Bulgarian economy is bound to fall off an economic cliff and into a depression, which will last for several years, according to a leading Bulgarian financier and banking expert.
Bulgaria Budget Draft 2011 Debated in Parliament
Four parliamentary commissions will debate Bulgaria's budget draft for next year, which Finance Minister Simeon Djankov handed to parliamentary speaker Tsetska Tsacheva on October 1.
Bulgaria Reaches Compromise on Private Retirement Funds
The individual shares of Bulgarian employees eligible for early retirement, held in private funds, will be transferred to the National Social Security Institute (NOI) only for those who can retire in 2011, 2012, and 2013.
Final Decision on Bulgaria Pension System Delayed
Bulgaria's government is expected to announce on Friday whether it will proceed with plans to transfer the pension accounts in nine private funds with total assets of about BGN 500 M to the state in a bid to solve its fiscal woes.
Bulgarian Pension Funds Hold Breath for 'Nationalization' Decision
It is still unclear if the Bulgarian government will go ahead with a controversial plan for the nationalization of early retirement accounts from private pension funds.
S&P Downgrades Bulgarian American Credit Bank, Outlook Negative
Standard & Poor's has lowered its long-term credit ratings on Bulgarian American Credit Bank (BACB) to 'B' from 'B+', saying the likelihood of BACB receiving support in case of need from its parent bank, Allied Irish Bank has reduced.
Bulgarian Minister Unsure about Nationalization of Pension Funds
Bulgaria's Economy Minister Traicho Traikov is skeptic about the nationalization of the professional private retirement funds.
Bulgaria FinMin: Could Private Funds Pay Normal Pensions?
Bulgaria's Finance Minister Simeon Djankov has announced he was still waiting for pension funds to say whether they would be able to pay early pensions to people.
Bulgarian Businessmen: Govt Steals Pension Money
The reform measures for transfer of early retirement money from private pension funds to the government social security institute are unconstitutional, according to the Bulgarian business sector.
Bulgarian Govt Claims No Nationalization of Pension Funds
Bulgaria's government has sought to assuage fears that its planned measures for pension reform amount to a nationalization of private retirement funds.
IMF Urges Bulgaria to Eliminate Retirement System Deficit
The International Monetary Fund has submitted a position to the Bulgarian government urging it to reduce the deficit in its pension system.
Bulgaria to Smoothly Increase Retirement Age from 2015
The required retirement age of workers in the first and second category of work will start growing smoothly from 2015, with six months per year, the Bulgarian Labor and Social Policy Minister, Totyu Mladenov, has announced.
Bulgaria's Finance Minister Assuages Fiscal Reserve Fears
Bulgaria's Finance Minister, Simeon Djankov, assuaged fears the fiscal reserve is depleted by saying the current BGN 6.
Bulgarian Revenue Agency Vows Prosecution for Tax Evaders
The Bulgarian Revenue Agency (NRA) informs they are currently auditing 10 businesses and 110 business owners on the Black Sea coast.
Ruling Party Confident in Bulgaria's 2011 3.6% GDP Growth
MP Menda Stoyanova, head of the budget and finance committee of the Bulgarian Parliament, has expressed confidence that the 3.6% GDP growth project for 2011 will be realized.
Eurostat Finds Bulgaria to Have Even Higher 2009 Deficit
Bulgaria's 2009 budget deficit was actually 4.7% of the GDP, rather than 3.9%, according to final Eurostat data released Friday.
EBRD with Record Investments in Bulgaria in 2010
The 2010 investments of the European Bank for Reconstruction and Development in Bulgaria will reach the record annual figure of EUR 500 M, announced Stefka Slavova, an EBRD director.
Japan's JCR Raises Bulgaria Outlook to Stable
Japanese credit rating agency JCR on Friday affirmed its BBB rating on Bulgaria's foreign currency long-term senior debts and BBB+ rating on the country's local currency long-term senior debts.
EBRD Wraps Up Visit to Bulgaria, Investments Total EUR 2 B
The European Bank for Reconstruction and Development has invested over EUR 2 B in various sectors of the country's economy since the beginning of its operations in Bulgaria, mobilising additional investment in excess of EUR 5 B.
Bulgarian Banks Risky, Vulnerable - Fitch Director
Bulgaria's banks together with those in Romania and Hungary, are the most vulnerable in Eastern Europe, according to credit rating agency Fitch.
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