Page 5 of 19 FirstFirst 12345678915 ... LastLast
Results 21 to 25 of 94
Like Tree9Likes

Thread: Bulgaria - Economy Thread

  1. #21
    VODA's Avatar
    Moderator

    Status
    Offline
    Join Date
    Dec 2011
    Location
    Sofia
    Posts
    268
    Liked
    85 times
    Rep Power
    6
    Bulgaria

    Default

    Bulgaria's Govt to Complete Sofia-Black Sea Highway July 1

    April 6, 2012



    About 1/3 of the Trakiya Highway from Sofia to Burgas is still uncompleted.

    Map from chambersz.com


    Bulgaria's first major highway, "Trakiya", linking Sofia to the Black Sea coast at Burgas is to be completed ahead of schedule, Regional Development Minister Lilyana Pavlova announced.

    In her words, the builders of the 360-km highway has committed to completing it ahead of schedule with July 1 being the most optimistic deadline for the still uncompleted Lots 2 and 3.

    At the same time, the accelerated completion of the Trakiya Highway is not supposed to affect its quality because the government will be "following the builders' work very strictly", Pavlova said on TV7 Friday.

    About two-thirds of the Trakiya Highway have already been completed, with the full completion being projected for the late summer/fall of 2012. When completed, it will be the first major highway in Bulgaria, not counting the 19-km Lyulin Highway completed last year.

    Another important road project for which the government is starting tenders is the four-lane road between Burgas and the largest Bulgarian Black Sea resort Sunny Beach.

    Pavlova stressed the importance of the start of the construction of Lot 4 of the Struma Highway linking Sofia to Greece. The Sandanski-Kulata section of the Struma Highway was formally started on Thursday.

    She added that the authorities will not be cutting just ribbons "but cables as well" because of the new government regulations prohibiting the use of wiring on street poles in towns with population over 10 000.

    The minister also spoke about the need to rehabilitation of the communist-era panel-construction residential buildings that are used by the majority of the Bulgarian population.

    The Bulgarian government is launching a communist-era construction rehabilitation campaign as of July 1, 2012, she said, providing grants of BGN 5000 per apartment, plus low-interest credits from private banks.

    Entire buildings in a total of 36 cities and towns can apply to join the program, the only condition being that the buildings must have been constructed before April 1999.

    По повод темата със санирането, регионалният министър припомни, че България е страната с най-ниска енергийна ефективност в Европа.

    Опитваме се да обясним на хората за ползите от санирането. Даваме 50% подарък за саниране. За средностатистически апартамент съфинансирането е около 5 хил. лв. Избрали сме банка, която да дава кредити, каза Лиляна Павлова.

    Плановете са санирането да започне на 1 юли. "Могат да кандидатстват цели блокове, или блок секции да подават документи са финансиране. Сградата трябва да е проектирана до април 1999 г. Информация има сайта на министерството. Ще обиколим и всички 36 града, които ще финансираме и ще разясняваме на място ползите", категорична беше Лиляна Павлова.
    Source: Bulgaria: Bulgaria's Govt to Complete Sofia-Black Sea Highway July 1 - Novinite.com - Sofia News Agency

  2.   
     
  3. #22
    VODA's Avatar
    Moderator

    Status
    Offline
    Join Date
    Dec 2011
    Location
    Sofia
    Posts
    268
    Liked
    85 times
    Rep Power
    6
    Bulgaria

    Default

    Russia Plans to Revive 'Frozen' Trans-Balkan Pipe

    April 7, 2012



    The 280-km pipeline, planned to link the Black Sea port of Burgas to Alexandroupolis on the Aegean Sea, was designed to transport 35 million tons of oil a year.

    File photo


    Russian oil company Transneft has not given up the Burgas-Alexandroupolis oil pipeline and plans to return to the project in the future.

    Transeft vice-chair Mikhail Barkov stated at a forum in Moscow that his company plans to build the pipeline at a more favorable point in time.

    "We will not leave the project behind. We are just freezing it, leaving the requisite amount of resources in it," said Barkov.

    In December, Bulgaria, through which a large section of the pipe was to pass, gave up the project, with Minister of Finance Simeon Djankov saying that it is not profitable for his country.

    This, it was feared, spelled the death of the pipeline project, set to deliver Russian oil from the Black Sea to the Aegean without shipping it through the Bosphorus.

    But the Russian party has multiple times suggested that it will push the project forward jointly with Greece in one way or another, no matter Bulgaria's unwillingness.
    Source: Bulgaria: Russia Plans to Revive 'Frozen' Trans-Balkan Pipe - Novinite.com - Sofia News Agency

  4. #23
    VODA's Avatar
    Moderator

    Status
    Offline
    Join Date
    Dec 2011
    Location
    Sofia
    Posts
    268
    Liked
    85 times
    Rep Power
    6
    Bulgaria

    Default

    Bulgaria Enters National Geographic '50 Tours of a Lifetime'

    April 13, 2012



    The Bulgarian trip offers travelers to tour the tenth-century mountaintop Rila Monastery, a UNESCO World Heritage site.

    Photo by Sofia Photo Agency


    A Bulgarian tour features for the first time in the National Geographic Traveler magazine's annual "50 Tours of a Lifetime".

    Culled from thousands of tours worldwide, the proposed trips are an antidote to the average—all offered by outfitters with solid reputations in the industry, the journalists from the magazine said.

    "We looked for tours (including volunteer, adventure, family, and small-ship trips) designed for experience, immersion, sustainability, and cultural connection."

    The list of fifty tours are said to offer a short but deep dive into far-flung cultures and transformative experiences.

    The Bulgarian tour, offered by tourist firm Cultural Crossroads, is entitled "Cultural Splendors of Bulgaria: Art, Wine, and Traditions." It spans over 12 days and targets "the culturally sophisticated soul of the great discoverers, going beyond and deeper than the classical tour of Bulgaria."

    The trip digs into the cultural heritage of Bulgaria, from the era of the Thracians, who venerated Dionysus and originated the legend of the musician Orpheus, to the present day.

    It offers travelers to listen to a chamber concert at the ancient Serdica amphitheater in Sofia, tour the tenth-century mountaintop Rila Monastery, a UNESCO World Heritage site, make banitza—phyllo filled with cheese—in the riverbank Gabrovo, and taste the fruit of thousands of years of winemaking.
    Source: Bulgaria: Bulgaria Enters National Geographic '50 Tours of a Lifetime' - Novinite.com - Sofia News Agency

  5. #24
    VODA's Avatar
    Moderator

    Status
    Offline
    Join Date
    Dec 2011
    Location
    Sofia
    Posts
    268
    Liked
    85 times
    Rep Power
    6
    Bulgaria

    Default

    Bulgaria Had EU's 2nd Lowest Debt-to-GDP in 2011

    April 23, 2012




    Bulgaria had EU's second lowest debt-to-GDP ratio among the EU 27 in 2011 – 16.3%, according to data released by Eurostat.

    The lowest ratio of government debt to GDP was recorded in Estonia (6.0%). Bulgaria is followed by uxembourg (18.2%), Romania (33.3%), Sweden (38.4%), Lithuania (38.5%), the Czech Republic (41.2%), Latvia (42.6%), Slovakia (43.3%) and Denmark (46.5%).

    Fourteen Member States had government debt ratios higher than 60% of GDP in 2011: Greece (165.3%), Italy (120.1%), Ireland (108.2%), Portugal (107.8%), Belgium (98.0%), France (85.8%), the United Kingdom (85.7%), Germany (81.2%), Hungary (80.6%), Austria (72.2%), Malta (72.0%), Cyprus (71.6%), Spain (68.5%) and the Netherlands (65.2%).

    In 2011 the largest government deficits in percentage of GDP were recorded in Ireland (-13.1%), Greece (-9.1%), Spain (-8.5%), the United Kingdom (-8.3%), Slovenia (-6.4%), Cyprus (-6.3%), Lithuania (-5.5%), France and Romania (both -5.2%) and Poland (-5.1%). The lowest deficits were recorded in Finland (-0.5%), Luxembourg (-0.6%) and Germany (-1.0%). Hungary (+4.3%), Estonia (+1.0%) and Sweden (+0.3%) registered a government surplus in 2011.

    The European Union's statistics institute Monday confirmed the 2011 budget-deficit estimates of most European countries, with the exception of Ireland, which Eurostat forecasts as being much higher.

    Eurostat sees Ireland's budget deficit at 13.1% of gross domestic product, compared with Dublin's projection of 9.8%.

    Eurostat estimated that overall the government deficits in the 27 EU countries and also in the 17 euro-zone countries shrank compared with 2010, but debt-to-GDP levels increased.
    Source: Bulgaria: Bulgaria Had EU's 2nd Lowest Debt-to-GDP in 2011 - Novinite.com - Sofia News Agency

  6. #25
    VODA's Avatar
    Moderator

    Status
    Offline
    Join Date
    Dec 2011
    Location
    Sofia
    Posts
    268
    Liked
    85 times
    Rep Power
    6
    Bulgaria

    Default

    Citigroup: Bulgaria GDP Growth to Slow Down to 1.2% in 2012

    April 24, 2012



    A file picture shows the Citigroup headquarters in New York, USA.

    Photo by BGNES


    Bulgaria's economic growth is expected to slow-down to 1.2% in 2012 in the wake of the continued crisis in the eurozone and stagnant domestic demand, according to Citigroup analysts.

    GDP growth next year is forecast at 2.5%.

    Interestingly the financial institution warns that the next general elections, due in the middle of 2013, may undermine the implementation of key structural reforms in the coutry.

    Earlier this month Bulgarian analysts and institutions unanimously cut their growth forecast for 2012 to just below 1.5% instead of the previously forecast 2-3%, citing slumping exports and stagnant domestic demand.

    The central bank BNB estimated Bulgaria's economic growth to slow-down to 0.7% in 2012, citing the sovereign-debt crisis in the euro area.

    Bulgaria's government and the European Commission recently revised downwards their forecast for the economy of the Balkan country, estimating it is to grow 1.4% this year due to worsening growth prospects in key trading partners across Europe and stagnant domestic demand.

    Meanwhile a Sofia-based think-tank warned that Bulgaria's economy hovers on the brink of its second recession in three years in the wake of the slump in the euro zone.

    Bulgaria's economy is expected to shrink in the first quarter of 2012, to be followed by a few more quarters of falling output, entering a technical, recession, the Institute for Market Economics (IME) has forecast.

    This would be the second recession in Bulgaria in just three years.

    Tumbling levels of exports and industrial production show that Bulgaria's economy is already feeling the chill from the euro zone, according to the experts.

    This has left domestic demand as the major driving factor behind the economy, but expectations are that it will remain subdued due to a rising unemployment rate and a drop in investments.

    Economists say the most troubling indicator is that in the period January -February 2012, the total value of the exported goods reached almost BGN 5.7 B, down by 6.1% on an annual basis.

    Bulgarian exports to third countries also decreased, marking a 2.6% fall compared to the corresponding period of the previous year and amounted to BGN 2.3 B.

    Exports, which used to be the driver behind Bulgaria's recovery, are slumping and in the best possible scenario can record a negligible growth or remain flattish, according to analysts' forecasts.

    A mix of global slow-down, restricted financing and withdrawing investors have brought Bulgaria's construction sector to a stalemate and according to the analysts it has been sliding ever more firmly into negative territory for the fourth year in a row with little hope for revival in the short term.

    Bulgaria's retail market continues to be on a downward trend, despite the retail concentration within malls, which have taken the role of new urban shopping, and leisure centers over the last couple of years.

    Data on the visits of foreign tourists in February did not bring the expected joy either. The number of foreign travelers here was down by about 3% on an annual basis after a year and a half of healthy growth. The figures dampened the sector's hopes that the excellent conditions for skiing in February will attract many foreign tourists.

    Bulgaria's economy expanded by 1.7% in 2011.

    Growth slowed down to 1.6% in the fourth quarter of last year, curbed by slumping exports, according to data of the statistics institute.

    The European Union newcomer entered recession for the first time in the first quarter of 2009 with its economy shrinking 5% from January to March 2009 and contracting 1.6% in the fourth quarter 2008 on a quarterly basis.

    In the first quarter of 2009 Bulgaria's GDP marked a 3,5% drop on an annual basis for the first time since the financial and economic crisis in 1997 and the slump was much sharper than macroeconomists' forecasts.
    Source: Bulgaria: Citigroup: Bulgaria GDP Growth to Slow Down to 1.2% in 2012 - Novinite.com - Sofia News Agency

Page 5 of 19 FirstFirst 12345678915 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
SkyScraperLife.Com 2006-2017

World Building Database

Download: Fast, Fun, Awesome - Web Stats