A World Bank report on public finances in Bulgaria points out the need to improve VAT collection. It also states that greater efficiency is needed in public procurement, spending on education and helping the vulnerable groups.
According to the authors of the report, if measures were not taken now, in the long term the potential for economic growth would be severely limited. As an example, the still differentiated VAT rates, especially in the restaurant industry, the inefficient spending on education and public procurement are pointed out. It is for this reason that “if the necessary reforms are not undertaken now, growth could slow to around 1.25% by 2050." According to Deputy Minister Georgi Klisurski, in order to accelerate growth, the ministry will rely heavily on investments. Therefore, negotiations with foreign investors are conducted daily.
Increasing energy connectivity between countries in the region of Southeast Europe will reduce electricity prices, increase competitiveness and security of supply . This was stated by Energy Minister Zhecho Stankov at the Energy Summit, organized by the..
The common will and economic potential of the two countries are important prerequisites for the upward development of bilateral relations, said President Rumen Radev at a meeting with the Ambassador of Vietnam Do Hoang Long . The meeting was also..
The prospects for developing the significant potential of tourism in Bulgaria were discussed at a meeting between the Bulgarian Head of State Rumen Radev and the Secretary-General of the UN World Tourism Organization Zurab Pololikashvili. The..
Hristo Stoichkov has been appointed the Sports Tourism Ambassador for the World Tourism Organization (UN Tourism). This became clear at an official..
Increasing energy connectivity between countries in the region of Southeast Europe will reduce electricity prices, increase competitiveness and security..
The common will and economic potential of the two countries are important prerequisites for the upward development of bilateral relations, said President..
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