https://www.bta.bg/en/news/economy/rss Thu, 14 May 2026 15:37:43 +0300 en hourly 1 https://www.bta.bg/en/news/economy/1125951-agriculture-minister-national-food-council-discuss-food-production https://www.bta.bg/en/news/economy/1125951-agriculture-minister-national-food-council-discuss-food-production Thu, 14 May 2026 15:21:43 +0300 Agriculture and Food Minister Plamen Abrovski convened an extraordinary meeting of the National Food Council, the Ministry said on Wednesday. It was attended by Health Minister Katya Ivkova and by representatives of institutions, regulatory authorities, industry organizations, food producers and processors. Abrovski said he expected to hear the views of industry representatives on bills amending the Consumer Protection Act and the Competition Protection Act, which have been submitted to Parliament. He stressed that food production remains a key priority and assured business representatives that the Agriculture Ministry would work to create a stable and predictable environment for the sector. Earlier on Wednesday, Parliament approved on first reading amendments to the Consumer Protection Act prohibiting price increases which are not economically justified. Abrovski said the State must maintain a balance between the interests of businesses and citizens, noting that all provisions can be discussed in detail with industry representatives between the first and second readings of the bills. "Their proposals and opinions will be taken into account in the working groups," he added. The Agriculture Minister said the purpose of the planned central electronic register for supply chain traceability of products is to reduce the administrative burden and facilitate business operations by consolidating and streamlining processes. The register will be developed after a clear concept, technical specifications and a regulatory framework are prepared. Abrovski also highlighted the need to improve the competitiveness of Bulgarian agriculture, saying that despite the significant public resources directed towards the sector, Bulgaria continues to import raw materials and food products, which requires a change in approach. "Closer cooperation is needed between the state, producers, processors and trade organizations," he said. Health Minister Katya Ivkova said institutions must work together in support of the sector, businesses and the population. Economy Diana Dukovska https://www.bta.bg/en/news/economy/1125838-sofia-airport-secures-eur-450-mln-for-construction-of-terminal-3-modernization- https://www.bta.bg/en/news/economy/1125838-sofia-airport-secures-eur-450-mln-for-construction-of-terminal-3-modernization- Thu, 14 May 2026 13:07:22 +0300 The Vasil Levski Sofia Airport project has secured EUR 450 million in financing from international capital markets with a 22-year maturity, the airport’s press centre said on Thursday. The funds will be used for the construction of Terminal 3, whose building is scheduled to begin in the autumn of 2026, as well as for the modernization of the existing infrastructure. The planned investments will provide the necessary capacity for the airport’s development over the next 30 years and will reinforce its role as Bulgaria’s strategic gateway to Europe and the world, the press release said. The Airport's press centre explained that the financing is structured through a combination of bank lending and a bond issuance - the first bond issue for project financing of a public-private partnership project in Bulgaria to be issued on a regulated market, Euronext Dublin. Leading international investors and financial partners are participating in the process, including the European Bank for Reconstruction and Development and UniCredit Group. Construction works on Terminal 3 are expected to continue for five years, until April 2031, which is also the set deadline for completion of the project. The airport expansion is expected to provide 34 gates capable of handling 20 million passengers, half of whom will be served by the new Terminal 3. Once the new Terminal 3 is completed and ready to merge with Terminal 2, Terminal 1 is due to be closed. Economy Momchil Rusev https://www.bta.bg/en/news/economy/1125804-bulgaria-among-eu-countries-with-lowest-rail-travel-usage-in-2024 https://www.bta.bg/en/news/economy/1125804-bulgaria-among-eu-countries-with-lowest-rail-travel-usage-in-2024 Thu, 14 May 2026 12:51:10 +0300 Bulgaria ranked among the European Union countries with the lowest number of rail journeys per capita in 2024, according to Eurostat data, released on Thursday. Only 3.3 train trips per person were recorded in Bulgaria, with lower figures reported only in Greece at 1.4 and Lithuania at 1.8 journeys per person. The data also show that passenger rail transport activity in Bulgaria reached 1.5 billion passenger-kilometres in 2024, representing a 6% decline compared to 2023. Across the European Union as a whole, 8.7 billion rail journeys were made in 2024, while the total transport volume reached 444.5 billion passenger-kilometres. Measured by population, Luxembourg recorded the highest number of rail journeys per capita, with 46.2 trips per person. It was followed by Austria with 35.6 and Germany with 35.2 journeys per person. The largest overall volume of rail passenger transport was recorded in Germany and France, at 109.1 billion and 107.3 billion passenger-kilometres respectively. Italy ranked third with 55.9 billion passenger-kilometres. At the other end of the ranking, six EU member states recorded fewer than 1 billion passenger-kilometres in 2024. These were Lithuania and Estonia with 0.4 billion each, Luxembourg with 0.6 billion, Latvia and Greece with 0.7 billion each, and Slovenia with 0.9 billion passenger-kilometres. Economy Konstantin Karagyozov https://www.bta.bg/en/news/economy/1125768-financial-watchdog-chair-golemanski-says-eurozone-accession-transforms-financial https://www.bta.bg/en/news/economy/1125768-financial-watchdog-chair-golemanski-says-eurozone-accession-transforms-financial Thu, 14 May 2026 12:39:00 +0300 Bulgaria’s eurozone accession is not just a currency change but a full transformation of the financial environment, Financial Supervision Commission (FSC) Chair Vasil Golemanski said on Thursday. He spoke at the Talking with the FSC. Vol. 2: New Horizons conference, which brings together regulators and the non-bank financial sector. Golemanski said eurozone membership would remove currency risk for the capital market, cut transaction costs, improve access to European investors and give businesses greater predictability, while also bringing new responsibilities. These include stronger supervision, technological adaptation and increased competitiveness among financial intermediaries and public companies. Golemanski said FSC had worked closely with the market and institutions throughout the process to ensure a smooth transition, and that by January 1 the non-bank financial sector was fully prepared, with no major difficulties reported by market participants. Golemanski identified the introduction of the multi-fund model in Bulgaria’s pension system, adopted this year, as another key FSC priority. He said it was one of the most significant changes to the pension system in recent years, with the potential to improve long-term returns and better protect pension savings against inflation. On the insurance sector, Golemanski said it faced many problems inherited over the years, “which we have undertaken to solve step by step, applying a very important principle: everything must happen under clear rules, and the rules must be followed.” He said insurance was one of the pillars of the financial system, providing predictability for citizens and businesses in times of risk, uncertainty and crisis, and that any doubts about the sector’s stability, transparency or the solvency of market participants had a broad public impact. “We face serious tests: higher inflation, rising compensation payments, changes in the insurance environment, price pressure and the need to adapt to new European regulatory requirements,” Golemanski said. He said the FSC would continue to apply consistent, strict supervision of capital adequacy, risk management, liquidity and consumer protection. Where systemic risk or conduct threatens stakeholders’ interests, the regulator must act, and has acted, in a timely, firm and unwavering manner, he said. “This year, we proved we have the strength and capacity to do this, despite unprecedented pressure on the FSC and its staff. I can proudly say we did not bend, and we will not,” Golemanski said. At the forum, Petra Hielkema, Chair of the European Insurance and Occupational Pensions Authority (EIOPA), highlighted the importance of trust and cooperation for market development. She cited data from a study indicating that trust in insurance and pension funds in Bulgaria remains low. “Overall, at the EU level, trust in insurance and pension funds is still relatively low. So you are not alone, but you certainly have challenges to overcome, and you can do so because we are seeing an improvement in the market,” Hielkema commented. Economy Anelia Tsvetkova Kaloyan Kirilov https://www.bta.bg/en/news/bulgaria/1125744-parliament-passes-on-first-reading-consumer-protection-act-amendments-against-ri https://www.bta.bg/en/news/bulgaria/1125744-parliament-passes-on-first-reading-consumer-protection-act-amendments-against-ri Thu, 14 May 2026 12:17:51 +0300 Parliament passed at first reading amendments to the Consumer Protection Act submitted by Progressive Bulgaria (PB) MP Yavor Gechev and a group of MPs against high prices of goods and services on Thursday. The amendments were supported by 121 PB MPs and 15 MPs from the Movement for Rights and Freedoms. One PB MP voted against, as well as four from GERB-UDF, eight from Democratic Bulgaria (DB), 13 from Continue the Change and 12 from Vazrazhdane. Ten GERB-UDF MPs and 11 DB MPs abstained. The bill transfers certain provisions from the Introduction of the Euro in the Republic of Bulgaria Act into the Consumer Protection Act, extending their validity by one year beyond the originally envisaged deadline. The provisions prohibit increases in the prices of goods and services offered to consumers where such increases are not economically justified. The bill outlines objective economic factors under which price increases may be considered justified, including rising supply and production costs, higher labour costs, increases in energy prices and others. The aim is to ensure transparency, verifiability and protection against unjustified and speculative price increases. The bill also provides for an obligation for retailers of food products, alcoholic and non-alcoholic beverages, tobacco products, non-food goods and medicinal products with turnover exceeding EUR 5,112,919 in the previous year to publish and provide pricing information daily in a machine-readable format. The amendments are due to enter into force on August 9, 2026 and will apply until August 9, 2027. During the debate, opposition MPs criticised the introduction of the term “fair price”. The sponsors explained that this does not constitute a price cap, but rather has informative value. Bulgaria Momchil Rusev Liliya Yordanova https://www.bta.bg/en/news/economy/1125637-non-food-traders-association-slams-proposed-price-control-legislation-changes-as https://www.bta.bg/en/news/economy/1125637-non-food-traders-association-slams-proposed-price-control-legislation-changes-as Thu, 14 May 2026 10:12:27 +0300 The Non-Food Traders Association (NFTA) has strongly criticized proposed amendments to Bulgaria’s Consumer Protection and Competition Protection acts, arguing they are being rushed through parliament without proper public debate or impact assessment, the Association said in a position Thursday. The draft amendments, submitted by Progressive Bulgaria, would ban unjustified price increases until August 2027, double fines, and introduce new legal concepts such as “collective dominant position” and “excessively high prices.” Businesses would also bear the burden of proving they have not violated the rules, NFTA argued.  The Association warns that the measures effectively presume guilt on the part of companies, shift responsibility onto businesses, and risk significant negative effects on the economy if adopted quickly without consultation.  The bills are scheduled for first-reading debate in Parliament and also extend some price-control provisions originally linked to the euro adoption framework.  The parliamentary ad hoc budget committee on Tuesday adopted two bills, submitted by Progressive Bulgaria MPs, aimed to contain prices and end unfair trade practices.  Amendments to the Protection of Competition Act provide for a ban on "excessively high selling prices". The bill also provides for the establishment of a central electronic register for traceability along the supply chain of agricultural and food products and raw materials, as well as other products at the wholesale trade stage, from business operators to distribution to the end consumer.  A second bill to amend the Consumer Protection Act transfers provisions from the Euro Adoption Act and extends their application by one year beyond the initially planned deadline. The amendments will remain in effect until August 9, 2027. Economy Metodi Yordanov Kamelia Tsvetanova https://www.bta.bg/en/news/economy/1125484-french-bulgarian-chamber-of-commerce-and-industry-awards-20-companies-individua https://www.bta.bg/en/news/economy/1125484-french-bulgarian-chamber-of-commerce-and-industry-awards-20-companies-individua Wed, 13 May 2026 21:44:04 +0300 Twenty companies and individuals received awards from the French-Bulgarian Chamber of Commerce and Industry (CCIFB) for their contribution to strengthening Bulgaria's position on the international scene, improving the national economic environment, and increasing the country's attractiveness as an investment destination. The awards were presented at a ceremony here on Wednesday within the Gala of CCIFB Stars special event.  The CCIFB has 350 members. Wednesday's event took place under the auspices of French Ambassador to Bulgaria Marie Dumoulin. Speaking at the ceremony, CCIFB head Stephane Delahaye said the distinguished companies contribute to the modernization of Bulgaria's economy and higher standards on the local market. In the context of a very insecure world, the formation of a new parliamentary majority and government in Bulgaria will contribute to a prosperous and sustainable future of the country, he noted. Ambassador Dumoulin said that the awarded companies, through their capability for innovations, entrepreneurship and commitment, play a full role in Bulgaria's economic development and strengthening its position in Europe and on the international scene. In the context of deep economic, technological, and energy transformations, enterprises play a key role; they generate growth, jobs, competences, and trust, and contribute to a more competitive, innovative, and sovereign Europe, she noted. In her words, the awarded companies show the quality of French-Bulgarian economic cooperation, based on trust, high standards, and a shared vision for Europe's future. In his address, InvestBulgaria Secretary General Yulian Balchev recalled that his agency and the CCIFB have cooperated for 20 years. During this period, 13 significant projects worth over EUR 600 million were implemented, creating more than 2,200 jobs. Lawyer Vladimir Penkov was awarded for his contribution to the development and high achievements of the Bulgarian law education and honest friendship with the French-Bulgarian community. Veolia Bulgaria received an award for successful concession management that shows the long-term commitment of the French experts to the ecological approach and Bulgarian regional development. The company invests nearly EUR 30 million a year in water resource conservation and green energy development.   Robertet Group Bulgaria was awarded for turning the Bulgarian heritage in the production of rose and lavender essential oils into the heart of the most prestigious French perfumes, including the brands Guerlain and Dior. Air Liquide Bulgaria was awarded as a leading French and internationally represented industrial company and a strategic partner of Bulgaria. The company is investing nearly EUR 100 million in a new industrial gas plant in Pirdop. EnduroSat received an award as a leader in the Bulgarian and European space industry and a manufacturer of modular satellites. The company has a subsidiary in France, a testament to its international potential and dynamic growth. Edenred was awarded for establishing itself as a pioneer in the modernization of social benefits in Bulgaria. Since 2001, the company has contributed to the creation and structuring of this system, which today is of significant importance to the country’s economy;  Sirma received an award for combining innovation, artificial intelligence, and a European spirit. The company acquired S & G Technology Services in 2024, a firm founded by Frenchman Fabrice Gouttebroze, who is a member of the CCIFB. Sirma is also developing a strategic project for sovereign artificial intelligence through Sirma.AI, supported by significant investments in research and development; Also distinguished was Latecoere Bulgaria, an iconic company in the French aviation industry, which has been investing in Bulgaria since 2018 and provides employment for 500 people; Malterie Soufflet Bulgaria was awarded as a company that, through its strategic investment of EUR 60 million in Pleven, contributes sustainably to the development of the Bulgarian agricultural and food sector and to the strengthening of French-Bulgarian economic relations; Ingiliz Group was distinguished for promoting Bulgarian craftsmanship around the world through its creations, recognized as the most prestigious film and fashion stages, including on the stage of the Eurovision song contest this week. Tombou Bulgaria was distinguished as a leading company in the food voucher sector and for establishing itself as a key partner in enhancing purchasing power and modernizing social benefits, while successfully embodying the strength of economic ties between France and Bulgaria; Mr. Bricolage was awarded as the first company in Bulgaria in the Do It Yourself sector. The brand operates 13 retail locations across the country. Fantastico Group received an award as a family-owned company contributing to the modernization of retail trade in Bulgaria. Speedy, part of the La Poste group, was awarded for embodying an exemplary French-Bulgarian success story in the strategic sectors of logistics and express transport. Act Logistics was distinguished for embodying a successful French family business story in Bulgaria. The company has been operating in the Bulgarian market for nearly 25 years. Toma’s Bakery, a family-owned company,  was awarded for its contribution to establishing the quality of French pastries in Bulgaria. It is also the creator of the country’s first production facility for French macarons; Schneider Electric was awarded for the company’s EUR 55 million investment in a new high-tech plant in Plovdiv, which is among the group’s most modern facilities in Europe, and for the creation of 110 jobs. The company is expanding its presence in Bulgaria for the third time and reaffirming its confidence in the country’s industrial potential. The company has been operating in Bulgaria for over 20 years. Pluxee received an award as one of the leaders in the food voucher sector in Bulgaria and part of a French group with an international presence. Marie Brizard Wine & Spirits, part of the French group La Martiniquaise, was distinguished for successfully promoting the wine traditions and craftsmanship of France and Bulgaria through the winemaking of Domaine Menada. 17 Senses Design, a French-Bulgarian startup in the field of interior design, was awarded for elegantly combining French creativity with Bulgarian craftsmanship. The official part of the event ended with the welcoming of 25 new members of the CCIFB. Economy Dimitrina Solakova Delyan Petrishki https://www.bta.bg/en/news/economy/1125370-think-tank-bulgaria-needs-more-economic-freedom-reforms-and-labour-for-higher- https://www.bta.bg/en/news/economy/1125370-think-tank-bulgaria-needs-more-economic-freedom-reforms-and-labour-for-higher- Wed, 13 May 2026 19:05:00 +0300 Policies that can unlock additional potential for economic growth were presented during a forum on economic freedom and the rule of law, titled “Time for Growth,” organized by the Institute for Market Economics (IME) in Sofia. The event brought together economists, lawyers, entrepreneurs, and business representatives for a discussion on the business environment, the institutional framework, and the prospects for the Bulgarian economy. Lachezar Bogdanov from IME underscored the need for a predictable business environment, economic freedom, and the reduction of regulatory barriers to investment and entrepreneurship. According to him, sustainable economic development depends on productivity growth, which can be achieved through investments in physical and human capital, as well as by encouraging entrepreneurial activity. Bogdanov warned that policies which restrict economic freedom and increase administrative burdens deter investors and slow down the adoption of new technologies and innovation. He argued that frequent legislative changes and an unpredictable regulatory environment reduce interest in investment and slow economic growth. Adrian Nikolov from IME presented an analysis of the labour market and the country’s demographic challenges. According to him, Bulgaria will continue to face a serious labour shortage due to the demographic crisis and a shrinking population. He said that there is a need for more active inclusion of inactive groups in the labour market, as well as easier access for workers from third countries to the Bulgarian economy. Nikolov noted that Bulgaria is gradually becoming a country that will increasingly rely on foreign labour, similar to a number of Western European economies. He stressed that in recent years migration patterns have been changing, with a higher inflow of foreign workers being recorded. According to him, administrative procedures for hiring workers from third countries should be accelerated so that businesses can respond more quickly to labour shortages. Nikolov also commented that the economy will face an increasingly severe labour shortage in the coming years, which will require both reforms in education and the labour market, as well as a more flexible migration policy. Petya Georgieva from IME presented data on the state of the healthcare system and the efficiency of spending in the sector. She noted that Bulgaria remains last in the European Union in terms of average life expectancy, despite having one of the highest numbers of hospital beds per capita. According to the data presented, the country has 864 hospital beds per 100,000 people, compared to an EU average of 511. Georgieva said that nearly 1 million patients passed through hospitals in just the first months of the year, and if this trend continues, hospitalizations could reach around 2.7 million by the end of the year. She emphasized that the problem in the system is not a lack of funding, but inefficient spending. According to figures presented at the forum, total healthcare funding reaches around EUR 10 billion annually, or approximately 8% of GDP. Georgieva argued that a large share of clinical pathways lead to unnecessary hospitalizations and could be replaced with outpatient care or other forms of treatment. She also noted that some hospitals could be restructured without losing medical staff. An additional focus was placed on the need for more investment in prevention and early diagnosis. Georgieva pointed out that Bulgaria is the only EU country without a national screening program, while in countries such as Finland, preventive programs cover around 70% of the population. In her view, future healthcare reforms should focus on the quality of treatment and real patient outcomes, rather than the number of hospitalizations. Sara Albrecht, Chair of the Liberty Justice Center, which is challenging the tariffs, imposed by the administration of U.S. President Donald Trump, presented details about the development of the case. She noted that the challenge began in May last year, when the organization filed a lawsuit arguing that the president does not have the authority to impose tariffs under the legal mechanism used. Speaking via video conference, she said: “Tariff authority per our Constitution lies with Congress. So at the heart of this case, it really wasn’t about tariffs. It was in fact about the separation of powers. We have three branches of government, and the president has things that he can do, Congress has things that they can do, and the judicial branch has things that they can do. You can’t take power from one branch to another, and that’s what he attempted to do. And if we didn’t stop it, he could have done that and the next president could have done that, and then slowly our Constitution erodes and becomes irrelevant,” she said, adding that the government is fighting that injunction, and the road ahead if them is long, but they feel pretty good. Economy Zhenya Ilcheva https://www.bta.bg/en/news/economy/1125279-longevity-forum-concludes-healthxchange-summit-2026 https://www.bta.bg/en/news/economy/1125279-longevity-forum-concludes-healthxchange-summit-2026 Wed, 13 May 2026 17:10:00 +0300 A Longevity Forum took place on the final day of the European HEALTHXCHANGE Summit 2026, dedicated to the future of sustainable health tourism. The forum took place at the Ensana Aquahouse Hotel & SPA in the Sts Constantine and Helena resort complex. The meeting was organized by the European Spas Association, the Bulgarian Union of Balneology and SPA Tourism, and Health Tourism Industry Conference & Expo — an international platform and event organization focused on the development of health, spa, wellness, and medical tourism. The hosts were the Ministry of Tourism of Bulgaria and the Municipality of Varna. The Bulgarian News Agency (BTA) was the main media partner. Speaker and moderator, Dr. Petra Bailey, said that longevity is no longer just a trend, but a global transformation that is changing healthcare systems, tourism, and perceptions of quality of life. Dr. Angela Mladenov noted that mental health and longevity strategies go hand in hand. Hormonal balance is among the most important factors for longevity, health, and quality of life, said Dr. Sharon Stills, who joined the forum remotely from Scottsdale, Arizona. During the forum, a panel discussion on longevity was also held. Gormer tourism minister Nikolina Angelkova said that Europe has a unique competitive advantage to become a leading global longevity destination thanks to its natural resources, cultural heritage, and focus on prevention. Certified longevity fitness trainer Vessela Toncheva-Schenk emphasized the need for longevity to be viewed primarily as prevention. The discussion also included Dr. Lora Ayetola, who spoke about how mental health affects longevity. Master chef Mourad Benahmed explained that it is important to eat seasonal food. In his lecture, Prof. Dr. Hristo Bozov noted that hyperbaric oxygen therapy is becoming an increasingly important part of modern longevity medicine and health tourism. Guest of the forum was also the Tourism Institute President and psychologist Dr. Reza Soltani, who emphasized that they have worked together with the SPA association on the topic of mental health. Economy Petya Petrova BTA correspondent Pavlina Zhivkova https://www.bta.bg/en/news/economy/1125083-bulgaria-ranks-third-in-eu-in-q4-2025-greenhouse-gas-emission-decline-y-y https://www.bta.bg/en/news/economy/1125083-bulgaria-ranks-third-in-eu-in-q4-2025-greenhouse-gas-emission-decline-y-y Wed, 13 May 2026 15:23:24 +0300 Bulgaria was among the three EU countries with the largest reduction in greenhouse gas emissions in the fourth quarter of 2025 compared to the same period of 2024, the EU statistical office Eurostat reported on its website on Wednesday. Greenhouse gas emissions in Bulgaria fell by 3.5%, from 11.959 million tonnes of carbon dioxide equivalent in November–December 2024 to 11.536 million tonnes in the fourth quarter of 2025. Among EU Member States, emissions declined by a larger margin only in Lithuania (4.9%) and Czechia (3.9%). In the fourth quarter of 2025, greenhouse gas emissions in Bulgaria decreased by 0.3% compared to the previous period. EU-wide, greenhouse gas emissions in the EU increased most in Luxembourg (11.6% year-on-year), Portugal (3.9%), and Sweden (2.9%). Greenhouse gas emissions in the EU reached 839 million tonnes of carbon dioxide equivalent in the last quarter of 2025, up 0.9% from the previous quarter and up 0.4% year on year. On an annual basis, the Union's GDP grew by 1.4%. Electricity, gas, steam, and air conditioning supply topped the greenhouse gas emissions ranking by economic sector (+7.2%), followed by transportation and storage (+1.3%), and mining and quarrying (+0.9%). Emissions from households (-2%) and the manufacturing industry (-0.1%) recorded a decrease. Economy Kristina Ivanova Iliyan Tsveyn https://www.bta.bg/en/news/economy/1125160-protesters-demand-resignation-of-financial-supervision-commission https://www.bta.bg/en/news/economy/1125160-protesters-demand-resignation-of-financial-supervision-commission Wed, 13 May 2026 15:21:02 +0300 Citizens protested on Wednesday demanding the resignation of the Financial Supervision Commission (FSC) in front of the Council of Ministers building, where the first regular meeting of the newly elected government with Prime Minister Rumen Radev was held. The reason for the protest is the ban imposed on April 2 by the FSC on DallBogg Life and Health Insurance Company to conclude new insurance or reinsurance contracts for all or individual classes of insurance, as well as to extend the term of concluded contracts and expand their coverage. The FSC indicated that the purpose of the ban is to protect the interests of the insured persons and guarantee the solvency of the company, and the reason for it is violations of market conduct, as well as the Insurance Code. This is the second protest related to the case, after a general protest of industry organizations from the transport sector, clients and employees of DallBogg: Life and Health Insurance Company took place in Sofia on April 30. The protesters carried posters with slogans: "FSC - arbitrariness and grab", "Customers pay for the purpose of your arbitrariness", "Hands down from DallBogg Life and Health". Accompanied by police, the citizens headed along Dondukov Boulevard. and reached the FSC headquarters at 16 Budapesta Street, where they demanded the resignation of the specialized state body. Economy Sofia Gospodinova Atanas Malakchiev https://www.bta.bg/en/news/economy/1125097-joining-european-stability-mechanism-will-boost-financial-stability-trust-in-bu https://www.bta.bg/en/news/economy/1125097-joining-european-stability-mechanism-will-boost-financial-stability-trust-in-bu Wed, 13 May 2026 15:20:01 +0300 Joining the European Stability Mechanism (ESM) will contribute to financial stability and trust in Bulgaria, said Yana Djoneva, Chief Operating Officer (COO) and Member of the ESM's Management Board, in an interview for BTA taken during a financial forum in Sofia. Djoneva is in Sofia for the Money Growth: Bulgaria in the Eurozone organized by Capital. She said that membership in the ESM is much more than a technical procedure related to the adoption of the euro, as it represents an important step in Bulgaria's integration into the core of the European Union. "[...] the introduction of the euro is far more than a currency change. It is a historic choice. It marks Bulgaria's deepest integration into the European Union since its joining in 2007," said Djoneva. She emphasized that joining the euro area and the ESM brings tangible benefits to Bulgaria, such as better financial stability, stronger trust from investors, and participation in the decision-making process concerning the future of Europe. "In practice, this matters because it supports financial stability and helps maintain confidence in the country by keeping financing conditions stable for the government, and, ultimately, for banks, households and businesses," she said. The ESM is the permanent safety mechanism for eurozone member states and serves as a financial safety net in times of crisis. All countries that adopt the euro become members of the ESM. Bulgaria has already completed the main steps toward accession. In September 2025, the country submitted its application for membership, and in December, the ESM Board of Governors officially approved the accession. The procedure is currently in the national phase. On May 7, 2026, the caretaker government submitted the bill for ratification of the ESM Treaty to the National Assembly. It is pending review by parliamentary committees and the plenary session. "The ESM Treaty is an international agreement that requires ratification by the National Assembly, and once that step is completed, the country's membership in the ESM will be finalized," said Djoneva. She specified that Bulgaria's paid-in capital contribution will be around EUR 992 million, which will be about 1.2% of the ESM's paid-in capital. The capital contribution is not paid all at once but is spread over 12 years, with around EUR 120 million paid per year in the first five years. "Importantly, Bulgaria will benefit from full ESM membership from day one, even though the payments are spread over time," she said. Djoneva stressed that this capital is not used to finance loans to countries directly but serves as a guarantee that allows the ESM to raise funds on the markets at very low cost and then pass on those favourable conditions to countries, if support is needed. Commenting on the impact of the conflict in the Middle East and financial stability in the euro area, Djoneva said: "Europe is particularly exposed to external shocks through energy, because a large share of its energy is imported. Even if the situation stabilizes relatively quickly, the economic impact will last longer [...]. And this is because, given the material damage to regional energy infrastructure, repairs and capacity restoration will take time." She said that in times of uncertainty, financial stability frameworks become even more important and added: "Risks do not disappear, but they become easier to manage, because within the euro area there are stronger tools, deeper coordination, and more predictable financing conditions." She pointed out that in the face of rapid technological change, the financial sector is also facing new challenges related to the development of artificial intelligence. "[Artificial intelligence] is already changing the risk landscape in the financial sector. Risks can move faster and scale more quickly, and we are seeing a growing reliance on a small number of players, often outside Europe." She said that European financial institutions and supervisors need to build their own expertise to understand these technologies first-hand and to assess the risks properly. "The challenge for Europe is to capture the benefits, while managing the risks. That means mobilizing public and private capital across the EU to invest in our own AI infrastructure, technology companies, and skills [...]." She added that AI alongside Distributed Ledger Technology/blockchain open new possibilities for banks to optimize their business models and boost their competitiveness by offering a wider range of services. The full interview follows: Bulgaria has been a member of the euro area for several months now, while you have been with the ESM since its establishment in 2012. How did this process look through the eyes of one of the most senior Bulgarian professionals in the European financial institutions? When I joined the ESM more than a decade ago, one of my personal motivations was precisely to see Bulgaria become part of the euro area one day. To witness that moment from within a European institution, whose core mission is to safeguard and strengthen the euro area, is very special. Because the introduction of the euro is far more than a currency change. It is a historic choice. It marks Bulgaria's deepest integration into the European Union since its joining in 2007. And it brings very tangible benefits. First, prosperity, by supporting investment and economic opportunities over time. Second, stability, through a stronger and more resilient financial framework based on solidarity. And third, representation, because Bulgaria now has a seat at the table when decisions about Europe's financial future are taken.  So, for me, this is both a professional milestone and a personal one. It reflects a long-term effort by our country, and a clear commitment to being part of Europe's core. As the ESM serves as one of the euro area's financial firewalls, and with the ratification process now moving to the Bulgarian Parliament, do you anticipate a smooth adoption? Furthermore, could you clarify the specific financial contribution Bulgaria will need to provide? All countries who join the euro become members of the ESM. As you said, Bulgaria is currently finalizing the process to join the other 20 euro area countries and become a member itself.  The country has already taken the key steps: it applied to join the ESM in September 2025, and the ESM Board of Governors approved its membership in December 2025. The ESM Treaty is an international agreement that requires ratification by the National Assembly, and once that step is completed, the country's membership in the ESM will be finalized. At that moment, the first capital contribution will be made. Bulgaria's paid-in capital contribution will be around EUR 992 million, which will be about 1.2% of the ESM's paid-in capital. The size of the contribution is determined on the basis of Bulgaria's population and its Gross Domestic Product. The capital contribution is not paid all at once. It is spread over 12 years, with around EUR 120 million paid per year in the first five years. Importantly, Bulgaria will benefit from full ESM membership from day one, even though the payments are spread over time. And it is worth clarifying one point: this capital is not used to finance loans to countries directly. It serves as a guarantee that allows the ESM to raise funds on the markets at very low cost and then pass on those favourable conditions to countries, if support is needed. In practice, this matters because it supports financial stability and helps maintain confidence in the country by keeping financing conditions stable for the government, and, ultimately, for banks, households and businesses. What are your observations regarding the impact of the conflict in the Middle East and financial stability in the euro area? Europe is particularly exposed to external shocks through energy, because a large share of its energy is imported.  Even if the situation stabilizes relatively quickly, the economic impact will last longer, as ESM Managing Director Pierre Gramegna has pointed out. And this is because, given the material damage to regional energy infrastructure, repairs and capacity restoration will take time.  In that context, financial stability frameworks become even more important. Countries in the euro area benefit from a strong and coordinated system that helps manage risks and maintain confidence. For Bulgaria, joining the euro area - and soon the ESM - is part of that. It means being part of a robust safety net. As the caretaker finance minister [Georgi Klisurski] said last week, the ESM is like a form of life insurance for Bulgaria's financial health and future financial security. This becomes particularly visible in times of uncertainty. Risks do not disappear, but they become easier to manage, because within the euro area there are stronger tools, deeper coordination, and more predictable financing conditions. And that stability is something that businesses, investors, and citizens can feel. In an article co-authored with your colleagues and published on the ESM blog more than a year ago, you discussed the challenges and risks related to artificial intelligence in the financial sector. How do you assess the impact of these technologies today? Over the last year, artificial intelligence has further proven itself as a powerful general-purpose technology. It has the potential to boost productivity and support innovation across Europe. At the same time, it is already changing the risk landscape in the financial sector. Risks can move faster and scale more quickly, and we are seeing a growing reliance on a small number of players, often outside Europe. This raises important questions about access, control and dependency, especially in a more volatile geopolitical environment. Financial institutions and supervisors need to build their own expertise to understand these technologies first-hand and to assess the risks properly. And that is not always straightforward, given how fast AI is evolving. There is also an operational dimension, AI alongside Distributed Ledger Technology/blockchain open new possibilities for banks to optimize their business models and boost their competitiveness by offering a wider range of services.  The challenge for Europe is to capture the benefits, while managing the risks. That means mobilizing public and private capital across the EU to invest in our own AI infrastructure, technology companies, and skills, while at the same time strengthening international cooperation and governance to ensure the responsible use of these technologies. The development and governance of AI matters for people as well, because these technologies will shape jobs, financial services, and how citizens interact with the economy in the years ahead. Yana Djoneva is COO and Member of the Management Board of the ESM. Together with her fellow Management Board members, she steers the ESM's strategic direction and operations, ensuring the institution remains effective and resilient in safeguarding euro area financial stability. As COO, Djoneva leads the ESM's innovation agenda and oversees the strategic adoption of Artificial Intelligence across the organization. Djoneva joined the ESM at its inception and since 2013 has played a key role in its institutional development. She has contributed to the design and implementation of many of the ESM's internal policies, procedures, and operational frameworks, working closely with euro area member states and peer institutions. She told BTA that she perceives Bulgaria's joining the euro area both as a professional milestone and a personal one. "It reflects a long-term effort by our country, and a clear commitment to being part of Europe's core." Prior to joining the ESM, Djoneva worked at the European Bank for Reconstruction and Development and Coca Cola HBC, among other organizations. Djoneva holds an MBA from London Business School, a master's degree in European law from Université de Lorraine, and a law degree from Sofia University. She holds a Master of Business Administration from London Business School, a Master's degree in European Law from Universite de Lorraine, and a law degree from Sofia University. Economy Nikolay Zabov Spas Stambolski https://www.bta.bg/en/news/economy/1125089-eurozone-economic-stability-will-depend-on-fiscal-discipline-and-institutional-e https://www.bta.bg/en/news/economy/1125089-eurozone-economic-stability-will-depend-on-fiscal-discipline-and-institutional-e Wed, 13 May 2026 14:25:28 +0300 In the eurozone, the common monetary framework acts as a stabilizing anchor that limits part of the external uncertainty, but this also places greater responsibility on domestic policies, meaning economic stability will increasingly depend on fiscal discipline, structural competitiveness and the efficiency of institutions, Bulgarian National Bank (BNB) Governor Dimitar Radev said at the opening of the "Money Growth: Bulgaria in the Eurozone" conference organized by Capital in Sofia on Wednesday. According to remarks distributed by the BNB, Radev said inflation in Bulgaria results from the interaction between external shocks and domestic structural factors. External factors create the initial impulse, while internal factors determine its strength and persistence. He noted that while the eurozone can provide a stable monetary framework, sustainable economic success cannot be imported from abroad. "Ultimately, sustainable real convergence is not a matter of external environment, but of internal resilience, consistency and trust," Radev said. The BNB governor stressed that inflation is not an abstract statistical indicator, as it directly affects incomes, savings, borrowing costs and confidence among households and businesses. According to Radev, three factors are particularly important: the structure of the economy, the competitive environment, and the fiscal position combined with domestic demand. He said the Bulgarian economy is currently characterized by a mismatch between a strong financial sector and a weakening fiscal position, reflecting policies in those two areas. Radev outlined several priorities in the current economic environment, including a stabilizing rather than pro-cyclical fiscal policy, as well as investment in infrastructure, energy connectivity, digitalization, human capital and technological modernization. "Automatic indexation mechanisms should be discontinued because they permanently embed inflation into the economy's cost structure," he said. Radev also stressed that competition is the main mechanism for price discipline and sustainable economic growth. When competition weakens, inflationary processes become more persistent and difficult to contain. According to him, the quality of institutions has direct macroeconomic significance, including the effective functioning of competition protection and consumer protection authorities. Economy Yoanna Vodenova Martin Lekov https://www.bta.bg/en/news/economy/1125018-bulgaria-posts-eu-s-second-highest-annual-economic-growth-in-q1-of-2026 https://www.bta.bg/en/news/economy/1125018-bulgaria-posts-eu-s-second-highest-annual-economic-growth-in-q1-of-2026 Wed, 13 May 2026 13:11:52 +0300 Bulgaria recorded the second-highest annual economic growth rate in the European Union in the first quarter of 2026, according to the latest data released by Eurostat on Wednesday. Economic growth across both the European Union and the euro area slowed on an annual basis in the January-March period. The EU economy expanded by 1% year-on-year in the first quarter of 2026, down from 1.4% in the final quarter of 2025. In the euro area, which now includes Bulgaria following its accession on January 1, 2026, annual GDP growth slowed to 0.8% from 1.3% in the previous quarter. Compared with the preceding quarter, GDP in the EU grew by 0.2% in the first quarter, unchanged from the October-December 2025 period. Quarterly growth in the euro area slowed to 0.1% from 0.2%. Bulgaria's gross domestic product increased by 2.9% year-on-year in the first quarter of 2026 and by 0.7% compared with the previous quarter, matching the seasonally adjusted data released earlier on Wednesday by the National Statistical Institute. Bulgaria's economy had expanded at the same quarterly and annual rates in the last quarter of 2025. According to Eurostat data, only Cyprus recorded stronger annual GDP growth in the first quarter, at 3%. Spain ranked third with growth of 2.7%. The only EU Member States to report annual economic contractions in the January-March period were Ireland, where GDP fell by 6.3%, and Romania, with a decline of 1.5%. Economy Yoanna Vodenova Iliyan Tsveyn https://www.bta.bg/en/news/economy/1124951-bulgaria-s-exports-to-third-countries-drop-by-3-4-to-eur-3-6088-bln-in-q1-y-y https://www.bta.bg/en/news/economy/1124951-bulgaria-s-exports-to-third-countries-drop-by-3-4-to-eur-3-6088-bln-in-q1-y-y Wed, 13 May 2026 13:02:32 +0300 In January - March 2026, the exports of goods from Bulgaria to third countries decreased by 3.4% from the same period of 2025 and added up to EUR 3.6088 billion, according to preliminary data released by the National Statistical Institute on Wednesday. The main trade partners of Bulgaria were Turkiye, Serbia, the United Kingdom, the United States, China, the Republic of North Macedonia and Ukraine, which accounted for 49.5% of the exports to non-EU countries. In March 2026, the exports of goods from Bulgaria to third countries increased by 6.0% compared to the corresponding month of the previous year and amounted to EUR 1.3862 billion. In the exports of goods from Bulgaria to third countries, distributed according to the Standard International Trade Classification, the most notable growth was recorded in the section ‘Animal and vegetable oils, fats and waxes’ (130.9%). The most notable fall was reported in the section ‘Food and live animals’ (25.9%). The imports of goods to Bulgaria from third countries in January - March 2026 increased by 12.7% from the same period of 2025 and added up to EUR 6.2478 billion at Cost, Insurance, and Freight (CIF) prices. The largest amounts were reported for the goods imported from Turkiye, China, Kazakhstan and Brazil. In March 2026, the imports of goods to Bulgaria from third countries increased by 17.5% compared to the corresponding month of the previous year and amounted to EUR 2.3656 billion. In the imports of goods to Bulgaria from third countries, distributed according to the Standard International Trade Classification, the largest growth was recorded in the section ‘Machinery and transport equipment’ (38.8%). The most notable fall was reported in the section ‘Miscellaneous manufactured articles’ (14.4%). The foreign trade balance of Bulgaria Free on Board (FOB) exports and CIF imports with third countries in the period January - March 2026 was negative and added up to EUR 2.6390 billion. In March 2026, the foreign trade balance of Bulgaria, (FOB exports and CIF imports) with third countries was also negative and amounted to EUR 0.9794 billion. Trade with third countries and the EU - total In January - March 2026, the total value of all the goods exported from Bulgaria amounted to EUR 10.9693 billion, which was 3.7% more than the same period of the previous year. In March 2026, the total exports of goods added up to EUR 4.0952 billion and increased by 12.0% compared to the corresponding month of the previous year. The total value of all the goods imported into the country in January - March 2026 amounted to EUR 14.2522 billion (at CIF prices), or 9.2% more than the same period of 2025. In March, the total imports of goods increased by 18.6% compared to the same month of the previous year and added up to EUR 5.5214 billion. The total foreign trade balance (FOB exports and CIF imports) was negative in January - March 2026 and amounted to EUR 3.2829 billion. In March, the total foreign trade balance (FOB exports and CIF imports) was also negative and added up to EUR 1.4262 billion. Economy Tatiana Marinova https://www.bta.bg/en/news/economy/1124896-export-of-goods-from-bulgaria-to-eu-in-january-february-2026-increases-by-3-6- https://www.bta.bg/en/news/economy/1124896-export-of-goods-from-bulgaria-to-eu-in-january-february-2026-increases-by-3-6- Wed, 13 May 2026 12:16:00 +0300 Export of goods from Bulgaria to the rest of the EU increased by 3.6% year-on-year and reached EUR 4.6515 billion for the January - February 2026 period, according to preliminary data released by the National Statistical Institute on Wednesday. Bulgaria's main trade partners were Germany, Romania, Italy, Greece, and France, which accounted for 68.3% of the exports to the EU Member States. The most notable growth was recorded in the section 'Animal and vegetable oils, fats and waxes' at 110.6%, while the section 'Miscellaneous manufactured articles' saw the biggest drop at 21.3%. In February 2026, exports to the EU increased by 4.9% compared to the corresponding month of the previous year and amounted to EUR 2.3371 billion. Imports of goods to Bulgaria from the EU for the January - February 2026 period decreased by 0.4% compared to the same period in 2025 and amounted to EUR 4.8486 billion (at CIF prices). Germany, Romania, Greece, Italy, and Hungary imported the largest amounts of goods to Bulgaria. The largest growth was recorded in the section 'Machinery and transport equipment' at 5.2%. The most notable fall was reported in the section 'Beverages and tobacco' at 28.7%. In February 2026, the imports from the EU grew by 3.3% compared to the corresponding month of the previous year and reached EUR 2.5201 billion. The foreign trade balance of Bulgaria (export FOB - import CIF) with the EU for the January - February 2026 period was negative and added up to EUR 197.1 million. Economy Nikolay Zabov https://www.bta.bg/en/news/economy/1124904-march-overnight-stay-revenue-rises-11- https://www.bta.bg/en/news/economy/1124904-march-overnight-stay-revenue-rises-11- Wed, 13 May 2026 12:01:10 +0300 Overnight-stay revenue in Bulgaria rose by 11% year on year in March to EUR 60.3 million, the National Statistical Institute (NSI) said on Wednesday. Bulgarians generated EUR 39.3 million of the total and foreign nationals EUR 21 million. The total number of overnight stays in March was 1.079 million, down 3.9% year on year. Bulgarian citizens accounted for 755,500 overnight stays and foreign visitors for 323,600. NSI data show four- and five-star accommodation establishments accounted for the largest share of overnight stays by foreign nationals, at 75.7%. The share among Bulgarian citizens was 49.9%. The number of guests fell 4.6% year on year to 504,000. Declines were recorded among both foreign nationals, down 9.4%, and Bulgarians, down 2.8%. Accommodation establishments hosted 371,700 Bulgarian citizens, who stayed an average of two nights, and 132,300 foreign visitors, who stayed an average of 2.4 nights. In March 2026, 2,193 accommodation establishments with 10 or more beds were operating in Bulgaria, including hotels, motels, campsites, mountain chalets and other short-stay facilities. NSI data show the number of accommodation establishments fell 3.8% compared with March 2025, while the number of beds was down 1.2% to 136,400. Total bed occupancy was 25.5%, down 1.1 percentage points from a year earlier. Occupancy was highest in four- and five-star hotels, at 33.4%. Economy Kaloyan Kirilov https://www.bta.bg/en/news/economy/1124893-bulgaria-s-gdp-grows-by-2-9-in-q1-of-2026 https://www.bta.bg/en/news/economy/1124893-bulgaria-s-gdp-grows-by-2-9-in-q1-of-2026 Wed, 13 May 2026 11:55:25 +0300 Bulgaria's gross domestic product (GDP) grew by 2.9% in the first quarter of 2026 compared with the same period of 2025, according to flash estimates released on Wednesday by the National Statistical Institute (NSI). On a quarterly basis, seasonally adjusted GDP increased by 0.7% compared with the fourth quarter of 2025. According to the estimates, Bulgaria's GDP reached EUR 25.314 billion in nominal terms in the January-March period, while gross value added totalled EUR 21.942 billion. Final consumption accounted for the largest share of GDP at 88.8%, amounting to EUR 22.484 billion. Gross fixed capital formation stood at EUR 4.381 billion, or 17.3% of GDP, while the country's foreign trade balance remained negative. Seasonally adjusted data showed gross value added rising by 2.6% year on year. Final consumption increased by 6.9%, while gross fixed capital formation grew by 8%. Exports of goods and services edged up by 0.4%, while imports rose by 6.4%. Compared with the previous quarter, economic growth was driven mainly by a 1.1% increase in gross fixed capital formation and a 1.4% rise in final consumption. In its latest spring macroeconomic forecast, Bulgaria's Ministry of Finance projected real economic growth of 2.6% for 2026. Economy Yoanna Vodenova Martin Lekov https://www.bta.bg/en/news/economy/1124815-black-sea-resort-hosts-longevity-forum https://www.bta.bg/en/news/economy/1124815-black-sea-resort-hosts-longevity-forum Wed, 13 May 2026 10:42:00 +0300 A Longevity Forum is taking place Wednesday on the final day of the European high-level meeting HEALTHXCHANGE 2026, dedicated to the future of sustainable health tourism. The event opened at the Ensana Aquahouse Hotel & SPA resort complex in Sts Constantine and Helena Resort. The meeting is organized by the European Spas Association (ESPA), the Bulgarian Union of Balneology and SPA Tourism (BUBSPA), and HTI Conference & Expo - an international platform and event organization focused on the development of health, spa, wellness, and medical tourism. Hosts of the event are the Bulgarian Ministry of Tourism and the Varna Municipality, while the Bulgarian News Agency (BTA) is the main media partner. Among the participants in the longevity discussion is Dr. Petra Bailey, Vice President of Ensana Health Spa, a Forbes-recognized leader, award-winning executive, and international speaker. The keynote speaker is Dr. Angela Mladenov, an international physician and longevity expert, who will discuss global longevity trends. Also participating will be Nikolina Angelkova, former Bulgarian Minister of Tourism (2014-2017), investment adviser, and lawyer. She will speak about opportunities for integrating the concept of longevity into the strategies of tourism management organizations and brands. The discussion will also feature Vessela Toncheva-Schenk, a certified longevity fitness coach working between Bulgaria and Germany, as well as Mourad Benahmed, Michelin-starred chef at Ensana Sairme Resort in Georgia, who will present Ensana’s philosophy of healthy, functional, and flavorful cuisine. Participants in the European meeting will also visit the Roman Baths of Varna and the Regional Historical Museum Varna. Economy https://www.bta.bg/en/news/economy/1124705-institute-for-market-economics-organizes-forum-on-economic-freedom-and-rule-of-l https://www.bta.bg/en/news/economy/1124705-institute-for-market-economics-organizes-forum-on-economic-freedom-and-rule-of-l Wed, 13 May 2026 07:38:00 +0300 A forum on economic freedom and the rule of law titled Time for Growth, organized by the Institute for Market Economics (IME), will take place at 4:00 p.m. at the Hilton Hotel here on Wednesday, the organizers said. The event will focus on Bulgaria's vision and opportunities for growth, covering topics ranging from the institutional crisis and the business environment to the country's place in a changing Europe.  The programme also includes an exclusive discussion with Sara Albrecht, lead plaintiff in the lawsuit against tariffs imposed by the administration of Donald Trump. She will join live online to comment on the 2026 ruling of the U.S. Supreme Court on the tariffs issue.  The discussion, titled Trump, the Trade War and the Separation of Powers, will examine how strategic cases with global economic impact are pursued, where the limits of executive power lie, and how court decisions affect business and international trade. Sara Albrecht is chair of the board of directors of the Liberty Justice Center, a public-interest law firm involved in legal cases defending economic freedom, property rights and limits on government power. She is also founder of Swan Capital and has many years of experience as an investor. Albrecht is also active as a civic leader. Economy Metodi Yordanov Anelia Tsvetkova