Send to Kindle
Bulgarian State Railways BDZ CEO Yordan Nedev says it is logical for him to resign as the company is collapsing. Photo by Sofia Photo Agency
The deadline, given to the ailing Bulgarian State Railways BDZ Holding by Finance Minister Simeon Djankov to come up with new reforms to save the company, is expiring Monday.
The plan is the condition to reinstate State subsidies to BDZ. The management of the company has kept silent after the ultimatum.
Earlier, BDZ Passenger Transport CEO Yordan Nedev said Bulgaria's transport authorities were going to form an emergency body in order to figure out a way to rescue the collapsing Bulgarian State Railways BDZ.
He has warned that the lack of funding would lead to another 50% layoffs, eliminating 200 passenger trains and even stopping all transport of passengers by mid-August. Nedev further hinted he is ready to resign ASAP.
The State subsidy for BDZ of BGN 14 M was halted a month ago over the default on a World Bank loan in the amount of BGN 150 M.
In Bulgaria, more than 60% of people aged 60 to 64 remain active in the labor market, a figure that surpasses the European Union average.
Bulgaria is expecting a 5% increase in tourist arrivals this winter season, according to acting Minister of Tourism Evtim Miloshev
Tourist interest in Christmas and New Year holiday packages is exceptionally high this year
The caretaker government of Bulgaria has proposed an 8-9% pension indexation for July 1, 2025, as part of the draft budget for the State Social Insurance in 2025
In 2024, 92.1% of households in Bulgaria have internet access, according to the National Statistical Institute (NSI)
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023
Remote work has become one of the most important trends in recent years.
In Bulgaria, the current labor market is facing a situation where job supply exceeds demand, creating challenges for employers
Due to recent increases in wages, several productions are relocating to more cost-effective destinations
The heavy snowfall in recent days has created ideal conditions for an early start to the winter season in Bansko
The shortage of qualified professionals entering the Bulgarian labor market has consistently ranked among the top three challenges for businesses over the past five years
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023
