The country’s transport sector has been hard hit by the ongoing international downturn, with falling domestic industrial activity reducing demand for freight haulage, while slowing international trade is cutting into transit traffic revenues. On May 11, Bulgaria’s National Statistical Institute issued its latest report on industrial production, which showed a 17.1% year-on-year decline as of the…
Bulgaria's capital markets have stabilised even as they face contagion risk from its debt-laden neighbour, Greece. The country's economy is poised to make a slow but sure recovery from recession, according to senior banking officials and international agencies. Bulgarian central bank officials have moved quickly to quash suggestions, including those made in comments by the finance minister, Simeon…
With the first Bulgarian troops departing for Iraq amidst tight security on August 11, Sofia followed other East European states in supporting the US-led occupation force. However, there were also concerns over just what the soldiers might be getting into – alongside hopes that the intervention might bolster Bulgaria’s chances of a share in reconstruction. The troops were sent to reinforce…
Expectations are running high in Bulgaria’s press and official political circles concerning the possibility of establishing US military bases in Bulgaria under NATO auspices. While details still remain sketchy, surveys of possible base sites are known to have begun in earnest. However, the government of Prime Minister Simeon Saxe-Coburg still has not clarified where it stands on this politically…
While the heat wave this summer that hit continental Europe dried up rivers and left residents sweltering, it also had one positive spin off for Bulgaria. The country's energy exports received an unexpected boost - with the state provider grabbing an even larger share of the Balkan electricity market. In a public statement released in late August, Bulgaria's state-controlled electricity provider,…
A row over the appointment of a top prime ministerial intelligence advisor this week has highlighted once again the weakness of Prime Minister Saxe-Coburg's government. Meanwhile, it has also raised concerns over the premier's judgement, as the country prepares for important mayoral elections - and future NATO membership. In a last-minute move designed to deflect mounting criticism from both within…
After a second round of voting in the Bulgarian municipal elections, right-of-centre candidates managed to hang on in the capital and some of the largest cities, while the left scored well overall. Meanwhile, the results are being seen by many political analysts, both within Bulgaria and abroad, as playing an important role in setting the tone for what is expected to occur during the 2005 general election.…
With its long-awaited accession to NATO slated for the spring of 2004, Bulgaria is now running a major military upgrade programme. Due to spend around USD1bn over the next five years on its armed forces, Sofia is currently playing host to many world-renowned defence contractors. Meanwhile, critics have been asking just how fair the defence procurement process has been, despite the progress made in…
These days are busy times for Bulgaria's parliament, with lawmakers promising to work extra shifts to bring the country's rule book up to European Union levels. Meanwhile though, a major political crisis looms, as the government tries to continue without a working majority, following the resignation of a major block of supporters. With the issue over which they broke being the need for faster economic…
Outlining the government's energy development strategy last month, Bulgaria's Energy and Energy Resources Minister presented a substantial list of future projects. With regional energy market liberalisation just around the corner, calls for a substantial refurbishment of power supply and generation facilities were high on the agenda, while some important new pipelines were also on the list. Yet the…
