Sat, Nov 21 2009
Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.
Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector
The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.
Delayed payments from the Budget as ministries and municipalities slash costs have been piling up pressure on companies scrambling to pay debts
Plans to list BEH or its subsidiaries have been mooted for months but the Government is yet to decide on how to do the listing.
Bulgaria's Finance Ministry said on November 16 that a Financial Times report about the Cabinet's intention to deposit fiscal reserve funds in commercial banks was erroneous.
Despite statistical data showing that the economy shrank in the third quarter, Bulgarian Finance Minister Simeon Dyankov was optimistic that the first signs of recovery were already visible.
Strategic investors no longer expect another imminent crash in Eastern Europe and are once again evaluating the region
Institutional, regulatory and legislative obstacles prevented ORS from finalising the deal before the June 2009 deadline, chief executive says.
Angelov said that blocking Bulgaria’s access to ERM 2, the two-year currency stability test before the country can drop the lev and adopt the euro, would be a violation of Bulgaria’s EU Accession Treaty and would pave the way for unilateral adoption
Fake loans have become a national sport for Bulgaria and this has to stop, tax authorities say
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