S&P: Bulgaria looking good

· Standard & Poor's (S&P) rating agency said on June 27 that Bulgaria would maintain a positive rating outlook after the parliamentary elections. It was certain the new parliament would be able to set up a strong government which would be disciplined by the tight reform deadlines necessary for EU accession. Analysts have said that forming a government would be a hard task for the Socialists without an absolute majority, but S&P said the parties would be united by non-partisan goals and would do all that was necessary to form a cabinet.

Wages up

· The wages of almost 400 000 people in the public sector will increase by 3.6 per cent as of July 1, the Government's media office said on June 28. At a meeting that day, the social partners - the Cabinet, trade unions and employers - supported a proposal to increase wages. The increase covers all those employed in education, health care, culture and social welfare.

Climate improving

· The National Statistical Institute said the total business climate increased 3.8 per cent to 35.4 per cent in June, the highest it has been since 1994. The institute said the rise was due to favourable development of all branches of business. In June, industrial managers remained optimistic in their assessment of the situation and the composite business climate indicator was only 0.2 points below the all-time record of 32.7 per cent. Insufficient domestic demand was the main impediment to enterprise activity.

Appointee to handle EU funds

· The Cabinet on June 23 established the office of National Aid Co-ordinator handle aid granted to Bulgaria by the European Union under the PHARE and ISPA pre-accession programmes. The ministers also defined the co-ordinator's role, functions and how he will interact with programme and sector leaders. The co-ordinator will be appointed by the cabinet and will exercise his or her powers on the basis of a memorandum of understanding between Bulgaria and the European Commission on the establishment of a national fund, which will allocate the funds. The co-ordinator will bear the full financial responsibility for aid granted to Bulgaria under pre-accession instruments.

Unemployment down

· Unemployment fell 1.07 points to 11.53 per cent in May, a record level for the last five-and-a-half years, Labour and Social Policy Minister Hristina Hristova said on June 23. A total of 427 198 unemployed people registered at job centres, 22 542 fewer than in April. A total of 24 503 jobs were posted at centres in May, of which 17 927 were in the real economy and 85.7 per cent were in private sector. The processing industry listed the most jobs with 4279, followed by auto and appliance sales and repair with 4202, the agricultural sector, 2021, hotel and restaurant keeping, 1705, and construction, 1292.