Bulgaria Faces Over 2.8 Billion Leva Deficit at End of Q3
At the end of the third quarter, Bulgaria’s treasury faced a deficit exceeding 2.8 billion leva
Dr. Polina Karastoyanova, executive director of the National Board of Tourism, emphasized the critical need for the "Black Sea" highway during an appearance on bTV's morning program. She highlighted the necessity of establishing a direct connection between Constanta and Istanbul and promoting international airlines to operate flights to Sofia, Plovdiv, Varna, and Burgas airports.
Karastoyanova stressed that robust air and road infrastructure are essential for the tourism sector. She also noted the importance of developing a national brand to bolster tourism. According to her, September remains an excellent month for travel, with favorable conditions for a seaside vacation extending into early October. She praised the offerings of local tour operators and travel agents, asserting that the opportunities for enjoying the sea continue through the first days of October.
Prof. Georgi Rachev, vice-chairman of the Bulgarian Association of Travel Agencies, expressed optimism that Bulgaria might soon surpass its 2019 tourism figures, though he acknowledged that this has not been the case across the Balkans. He pointed out that Albania, with its significant investments and rising international profile, is emerging as a prominent tourist destination, potentially becoming a modern Croatia in the region.
Karastoyanova noted Albania’s growing leadership in international tourism exposure and positioning. Prof. Rachev also observed that Greece remains a top destination for Bulgarians, citing the large number of second homes and properties Bulgarians own there. Despite various challenges, such as health concerns or pest issues, he believes Bulgarians will continue to travel to Greece due to their familiarity and affinity with the destination.
The Black Sea highway, also known as A5, is a major roadway planned for Eastern Bulgaria. It aims to link the cities of Varna and Burgas along the Black Sea coast. This motorway will parallel the existing national road I-9 and European route E87, forming part of the Pan-European Transport Corridor 8.
The motorway is projected to stretch 103 kilometers in total, with only 8 kilometers completed as of October 2021. The Black Sea Motorway is anticipated to significantly improve transportation between the Black Sea cities by addressing the current challenges posed by the Stara Planina mountain range, which delays traffic between Obzor and Nessebar. As of 2021, funding for the project is still being secured, with construction expected to commence after 2025.
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Bulgaria has become a preferred tourist destination for many international visitors, known for its rich history, beautiful landscapes, and range of vacation options
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