The European Commission has again pointed to major imbalances in Bulgaria’s economy. This country remains among the 12 EU member states who are subject to special monitoring. The EC report says that the banking sector has stabilized but that the legacy of poor supervision has not been overcome yet. Further actions are needed to deal with the weaknesses of the financial sector revealed in stress tests of banks. The percentage of bad credits is a double digit figure unlike the European average. From among state-run enterprises the most indebted ones are in energy. One example given is the N-plant at Belene for which Bulgaria has paid indemnities to Russia worth more than 601 million euro or 1.3% of the country’s GDP. The labor market has improved but employment levels remain low and long-term unemployment is high, European Commission experts have found.
As of today, the price of electricity for household consumers will rise by an average of 1.7%, while the price of central heating and hot water will decrease by 8.5%, the Energy and Water Regulatory Commission said. The biggest increase in..
Today, President Rumen Radev will hand over the first government-forming mandate to the candidate for Prime Minister nominated by the largest parliamentary group, GERB-SDS. Last week, Bulgaria’s head of state held consultations with the..
The enthronement of the newly elected Bulgarian Patriarch, Metropolitan Daniil of Vidin, is over. The new spiritual leader was welcomed in St. Alexander Nevsky Cathedral. The gathered laity chanted "Worthy" and applauded him. ''Conscious of my..
Bulgaria’s national team of mathematics put up an excellent performance at the Junior Balkan Mathematical Olympiad. Six Bulgarian students returned from..
Bulgaria’s President Rumen Radev handed the first cabinet-forming mandate to Rossen Zhelyazkov who is the prime minister-designate of the largest..
On Tuesday the weather will be sunny and hot over most of the country. Clouds will form over Western and Central Bulgaria in the afternoon and there..
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