Bulgarian Railways to Cut Sofia-Burgas Train Travel Time to Around 5 Hours Starting June
Starting June 15, traveling by train from Sofia to Burgas will take around five hours, a significant improvement for summer travelers heading to the coast
Yordan Nedev, CEO of the troubled Bulgarian State Railways (BDZ), resigned “for personal reasons” on Wednesday.
It is still unclear who will take over after Nedev’s resignation, Transport Minister Ivaylo Moskovski has told local media.
Nedev recently declared that passenger trains will have to stop in mid-August if the government does not restore the legal subsidy of the severely indebted company.
Bulgaria's Finance Minister Simeon Djankov agreed to restore the subsidy on August 6.
Djankov had given the BDZ Holding one weekend to come up with new reforms to save the company; this happened as BDZ was about to collapse financially as a result of Djankov's decision to withhold the BGN 14 M subsidy for the state railways in July even though BDZ is entitled to it by law.
The Finance Minister suspended the state subsidy for BDZ in mid-July because the company was not paying installments on a state-guaranteed loan of USD 80 M taken from the World Bank in 1995.
The subsidy payments were restored after an agreement with Djankov for a transfer of properties owned by BDZ to the Finance Ministry.
If traders attempt to unjustifiably raise prices during the transition to the euro, the National Revenue Agency (NRA) will detect it through discrepancies in VAT declarations
In the span of just three years, Bulgaria's grain producers have seen their access to European markets completely disappear
The CEO of the Sofia Commodity Exchange, Vasil Simov, dismissed speculation about any dramatic price hikes on the market
From July 1, 2025, electricity and thermal energy prices in Bulgaria are set to increase
Between 50,000 and 70,000 foreign workers may enter Bulgaria by the end of 2025 if the current pace of labor import continues
The Bulgarian online casino market has come a long way, from sudden boom, through regulation jolts, to a more recent balanced phase.
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe