Current News

Current News

Bulgaria - Economy - May'2003

Bulgaria - Economy - May'2003

5/26/2003 12:00:00 AM

"20,000-Leva Credits for New Business," Troud" writes and explains that the credits will be floated under the JOBS
programme of the Social Ministry to new businesses provided that they create jobs. The project will be implemented in 11 municipalities. Unemployed too can apply for credits if they have interesting ideas in the sphere of manufacturing or the services, the daily reports.

People who come to Bulgaria to invest attach great
importance to the efficiency and transparency of the judiciary, British Ambassador Ian Soutar says in an interview for "Dnevnik". In his opinion, the reform in the judiciary is not making progress. The British Ambassador says he knows that the government is trying hard to fight red tape and to open up the market for investment. Britain does not want to be given any preferential treatment but wants to be sure that its companies will be allowed to compete equally with the others. Some British companies feel they are placed in an unequal position, the British ambassador comments.

Two Bulgarian wines returned with medals from the world's biggest wine and liquor fair in London, "24 Chassa" reports. According to the rules of the fair, the winners will have to
keep their prizes secret till September.

"24 Chassa" writes about a bill sponsored by Ralitsa Again
and Valeri Dimitrov MPs of the SNM, which envisages the
establishment of special risk investment companies to assist
small business.

The Southwestern planning region generates 40 per cent of
the country's GDP, "Dnevnik" reports quoting National
Statistical Institute data. Bulgaria is divided into six
planning regions. Services account for the biggest share of the economy, 57.9 per cent, "Dnevnik" writes.

"We Are Expecting 150,000 Britons at the Seaside," reads a leading headline in "Standart News". The paper quotes an item in English paper "Sunday Mirror", according to which Bulgaria is the cheapest holiday destination in Europe. Some 70,000 Swedes and 50,000 Ukrainians, too, are expected to spend their holidays in Bulgaria, the daily reports, citing tour operators' projections.

"Troud" comments on its front page on the possibility of
introducing a flat rate on incomes. Currently, Bulgarians pay 15 per cent if their incomes are low and up to 29 per cent if they are high. The idea for a 15-per cent flat rate for Incomes Tax, Profit Tax and Value Added Tax was voiced by President of the World Taxpayers Association, Bjorn Tarras-Wahlberg, the paper recalls. "I back low taxes but I am not sure to what extent the millions of Bulgarian pensioners will like this idea," Finance Minister Milen Velchev tells "Troud". It would be hard to reduce
the VAT rates as this could turn out to be a hurdle before the implementation of the revenues side of the budget, Employers Union President Vassil Vassilev comments.

Two thirds of Bulgarians' deposits are in foreign currency,
"Dnevnik" writes, specifying that by the end of 2002 deposits in domestic and foreign currency added up to 5,680 million leva, up by 8.5 per cent in June-December 2002. The paper quotes National Bank of Bulgaria data.

A Turkish company is holding talks with Bulgarski Hlyab to buy Hlebna Maya of Rousse, the only local maker of bread yeast, "Sega" writes. The paper adds that the Turkish company, which owns plants in Turkey, Romania and Ukraine and exports its produce to 78 countries, has already supplied 3.5 t of raw materials to the Rousse plant.

As many as 6,000 Bulgarian university students, twice as
many as in 2002, will leave this summer for the U.S. under
various culture exchange programmes, according to data of the consular service with the US Embassy quoted by "Dnevnik". The
daily offers information about job opportunities in the U.S.

Courtesy: BTA

Disneyland in Plovdiv ? expected opening May 1st, 2005
As pointed in the today?s edition of the Maritsa newspaper, there was an official meeting at the Municipality between the Plovdiv Mayor Mr.Ivan Chomakov amd investors and designers, regarding the c...
International Folklore Festival in Plovdiv
The Maritsa Newspaper informs its readers that the new 10th International Folklore Festival opens in Plovdiv today. The Festival Parade of 10 groups from Greece, Egypt, India, Italy, Columbia, Mexi...
The famous car rally Hebros is back again
The official opening of the Hebros Rally will be tomorrow, Saturday, July 26th, at 08:45 a.m. in front of the Maritsa Hotel. The start of the first car will be at exactly 09:31 a.m. The cars will r...
The Plovdiv Schools ? Municipality maintained
According to Ms.Vanya Atanassova, Manager of the Municipal Department of Science and Education, all the reconstruction works in Plovdiv schools and kindergartens will be finished in time for the ne...
We will be able to step 17 centuries back into the past in Plovdiv
It is a world-famous fact that Plovdiv is among the oldest cities in Europe ? a contemporary of Troy. In 324 B.C., Philip II of Macedonia invades the Thracian city of Eumolpia, borders it with solid c...
A magic youth drink discovered by Plovdiv scientists
A team led by Prof. Maria Baltadjieva created the new bio-stimulator. It is of dairy origin, and is based on pre-biotic bacteria mixed with some biologically active protector that preserves the micro-...
Reconstruction of old fountains and construction of new ones in Plovdiv
Plovdiv hopes for some cooler places for the summer, thanks to the efforts of the Sofia-based company ?Holis?, owned by Arch. Snezhana Veleva, and, of course, of the Municipality that is funding th...
Vassil Levski - Bulgarian National Hero
It is 166 years since the birth of Levski\r\nVassil Ivanov Kunchev - Levski18.07.1837 - 19.02.1873Vassil Levski, whom the present-day Bulgarians consider their greatest national...
Dobromir Rahnev, Plovdiv, BULGARIA ? First prize in the 44th International Mathematical Olympiad'2003
International Mathematical Olympiad?2003, Japan, TokyoFirst prize: Dobromir Rahnev, Plovdiv, BULGARIAHe is finishing the Mathematical School Secondary of Plovdiv this year and it is the cus...
The Bulgarian mountaineer Mr.Nikolay Petkov
The narrow edge between the reasonable and unreasonable risk must not be crossed over. We have to be wise and brave towards Mount Everest, says Nikolay Petkov\r\nNikolay Petkov was born in 1...