Fri, Feb 10 2012
Photo: Darren Staples
The rehabilitation of the road section linking Veliko Turnovo to Gabrovo via Dryanovo is almost over
Compared with March 2008, output in March 2009 dropped by 8.7 per cent in the euro area and by 10.5 per cent in the EU27, European statistical office Eurostat estimates.
The Bulgarian cabinet has vowed that it will fund the investment projects stalled by Phare amounting to more than 323 million euro, under article 180 passed by Cabinet in October 2008.
Struma motorway's lots are considered too complex to complete by 2013, so funds are to be relocated to Trakiya motorway instead.
In April 2009, the 33 km section Gotse Delchev – Pirin village commences construction.
All 21 public tenders for repairs of existing roads called under European Union operational programme Regional Development, worth a combined 320 million leva, have been cancelled, Dnevnik daily reported on October 23. The entire road infrastructure development programme has been put on hold until further notice, the new head of the National Road Infrastructure Agency (NRIA), Ivan Atanassov, said. The reason was that there were too many irregularities with the paperwork.
The National Road Infrastructure Agency (NRIA) will soon announce new tenders to choose companies to oversee the construction of the road from Kurdjali to Podkova and the connection of Hemus Highway with Sofia's ring road, the director of projects co-ordination department of the Transport Ministry, Nelli Yordanova, said as quoted by Bulgarian-language daily Dnevnik. Both projects amount to 64 million euro.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.
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