https://www.bta.bg/en/news/economy/rss Wed, 10 Jun 2026 00:37:04 +0300 en hourly 1 https://www.bta.bg/en/news/economy/1143821-food-safety-watchdog-tightens-checks-on-dairy-imports https://www.bta.bg/en/news/economy/1143821-food-safety-watchdog-tightens-checks-on-dairy-imports Tue, 09 Jun 2026 19:09:29 +0300 The Bulgarian Food Safety Agency (BFSA) will tighten checks on milk and dairy shipments entering Bulgaria from Wednesday, the agency said on Tuesday. The measure covers products from the EU and third countries, including raw milk, dairy concentrate, milk powder, whey powder and butter. By order of the BFSA Executive Director, intensified monitoring is being introduced at Bulgaria’s entry points for every shipment of raw milk from the European Union and third countries. The checks will include laboratory analyses for total microbial count, an indicator of the cleanliness of raw milk, total somatic cell count, an indicator of animal health, as well as tests for inhibitors and aflatoxin M1. Intensified monitoring will also be carried out for every shipment of dairy concentrate from the EU and third countries through laboratory analyses for total microbial count and aflatoxin M1. For milk powder and whey powder, the checks will include analyses for salmonella, staphylococcal enterotoxin and aflatoxin M1. Each shipment of butter will undergo laboratory analyses for salmonella and listeria monocytogenes. Vehicles carrying the shipments will wait at the entry points until the results are received. The order takes effect on Wednesday. BFSA said the measure is being introduced to guarantee quality and safe raw material for the production of dairy products. The decision was taken after an analysis of the results of intensified checks in May. The agency said 24% of the samples tested showed non-compliances. This required additional measures for dairy products already manufactured, which led to administrative and economic difficulties for operators in the sector. BFSA also said that, with the new measure, Bulgaria aims to prevent raw materials of deteriorated quality from entering the country. Economy Kameliya Tsvetanova Kaloyan Kirilov https://www.bta.bg/en/news/economy/1143782-agriculture-ministry-strives-to-support-livestock-sector-accelerate-reforms-in- https://www.bta.bg/en/news/economy/1143782-agriculture-ministry-strives-to-support-livestock-sector-accelerate-reforms-in- Tue, 09 Jun 2026 18:19:06 +0300 The Ministry of Agriculture and Food is working on specific measures to support the livestock sector and to accelerate reforms in irrigation, Minister Plamen Abrovski said during a working meeting with representatives of the Bulgarian Association of Agricultural Producers, the Agriculture Ministry press service reported on Tuesday. The agenda included opportunities to support the livestock sector, the development of irrigation, changes to the regulatory framework, and preparations for the future Common Agricultural Policy (CAP). Representatives of the Bulgarian Association of Agricultural Producers identified the dire situation in the livestock sector as a priority issue. The problem is caused by increased imports of raw milk and low purchase prices for animal products. The association called for the development of emergency mechanisms to provide financial support to dairy farmers and other livestock producers in order to offset rising costs and to preserve production capacity. Agricultural producers also emphasized the need for a clear national strategy for the development of irrigation, as well as the need for more effective coordination among institutions on this matter. Abrovski reported that steps have been taken to strengthen controls on raw milk imports. He added that his Ministry is working on establishing standards to guarantee the origin of Bulgarian milk, as well as on changes to the regulatory framework for dairy products. Regarding food quality, Abrovski said that measures will be taken to ensure clearer labelling, so that consumers receive accurate information about the content and origin of products. The Minister highlighted the development of irrigation as one of his team’s main priorities. He specified that work is proceeding in two main directions: securing investments for the restoration and modernization of infrastructure, and expediting procedures for issuing water abstraction permits. Discussions have taken place with the Ministry of Environment and Water to improve coordination between the institutions on this matter. Abrovski stated that Bulgaria will insist that the oil-bearing rose be included among crops of special European significance, as well as on the creation of a separate financial resource dedicated to the development of rural municipalities, processing, and non-agricultural activities in rural areas. Regarding the proposals for the next Multiannual Financial Framework and the future of the CAP after 2027, on June 4, Abrovski reported that at the next meeting of the Agriculture and Fisheries Council in Luxembourg, to be held at the end of June, he will propose that 10 to 25% of the funds in the overall European budget be allocated to agriculture. Economy Nikolay Zabov Kameliya Tsvetanova https://www.bta.bg/en/news/economy/1143675-bulgarian-food-producers-to-present-products-at-8th-warsaw-food-expo https://www.bta.bg/en/news/economy/1143675-bulgarian-food-producers-to-present-products-at-8th-warsaw-food-expo Tue, 09 Jun 2026 17:06:07 +0300 Ptak Warsaw Expo in Poland is hosting the eighth edition of Warsaw Food Expo between Tuesday and Thursday. Bulgaria will be represented by a joint stand organized by the Association of Traditional Bulgarian Preserved Foods (ATBPF) in cooperation with the Agriculture Ministry and State Fund Agriculture that will feature four companies: Bulgarconserv Rupite, Kali 98, Konservinvest, and Peltina, the ATBPF reported on Tuesday. The forum is expected to attract more than 15,000 visitors, who can see products from over 400 exhibitors representing 50-plus countries. Manufacturers, distributors, importers, representatives of retail chains and the hospitality industry will present the latest consumer trends and food products. ATBPF representative Antoaneta Bojinova said: "I am pleased to announce that we are once again focusing on great taste and quality, achieved using traditional Bulgarian ingredients, free of preservatives, and in line with the latest trends in nutrition. The event serves as a multifaceted platform for the exchange of best practices and experience among food producers, retailers, restaurateurs, representatives of the hotel industry, owners of catering companies, and many other professionals in the food industry. It promotes business development and the establishing of new contacts." Economy Nikolay Zabov Kameliya Tsvetanova https://www.bta.bg/en/news/economy/1143605-industry-associations-warn-producers-may-bear-cost-of-care-basket-initiative https://www.bta.bg/en/news/economy/1143605-industry-associations-warn-producers-may-bear-cost-of-care-basket-initiative Tue, 09 Jun 2026 15:53:35 +0300 The Fruit and Vegetable Branch Chamber and the Bulgarian Association of Greenhouse Producers said Tuesday there is a real risk that the burden of the "Care Basket" initiative will be shifted onto Bulgarian agricultural producers. In their official statement to Prime Minister Rumen Radev and Agriculture and Food Minister Plamen Abrovski, the industry associations noted that production costs in the sector have already risen significantly. The organizations said that only one day after the initiative was announced, they received reports from Bulgarian producers that they were being pressured to cut their supply prices by exactly 15%. Producers were allegedly told that failure to accept the condition would result in the termination of purchases of their products. "This is an extremely worrying signal, showing that once again the cost of such an initiative risks being borne by Bulgarian agricultural producers against the backdrop of continuously increasing production costs in the sector," the associations said in their letter. The organizations expressed support for efforts to ensure more affordable prices for Bulgarian consumers, while at the same time raising concerns about reports from producers regarding pressure to lower the supply prices of Bulgarian produce. The initiative was launched on Monday at the Council of Ministers. Eight major retail chains joined the programme, announcing that they would reduce the prices of products included in the basic consumer basket by at least 15% for a minimum period of six months. Economy Veneta Litkova Kamelia Tsvetanova https://www.bta.bg/en/news/bulgaria/1143570-budget-and-finance-committee-approves-amendments-allowing-cabinet-to-raise-up-to https://www.bta.bg/en/news/bulgaria/1143570-budget-and-finance-committee-approves-amendments-allowing-cabinet-to-raise-up-to Tue, 09 Jun 2026 15:44:03 +0300 Bulgaria's parliamentary Committee on Budget and Finance Tuesday voted, 13-3 with five abstentions, to approve on first reading amendments to the Act on the Collection of Revenues and the Commitment of Expenditures in 2026 until the Passage of the 2026 State Budget Act, the 2026 Public Social Insurance Budget Act and the 2026 National Health Insurance Fund Budget Act. Submitted by the Council of Ministers, the revisions would authorize the government to incur up to EUR 3.8 billion in new public debt to finance the budget deficit, including pre-financing under the Recovery and Resilience Plan. Presenting the draft legislation, Deputy Prime Minister and Finance Minister Galab Donev noted that, in previous years, largely similar provisions governing the collection of revenues, the commitment of expenditures, and transfers had been applied when the state budget had not been adopted before the start of the fiscal year. He said that the 2026 legislation differs from earlier budget extension laws in that it includes an explicit provision authorizing the government to raise public debt, including short-term borrowing if necessary, to ensure sufficient funding for the current budget deficit and to provide pre-financing for national activities and investments during the final stage of projects implemented under the National Recovery and Resilience Plan. This will ensure that sufficient resources are available for the national budget to pre-finance the substantial payments due in 2026 under the National Recovery and Resilience Plan, Donev said. The amendments to the law allows the Council of Ministers to issue new debt on international capital markets under the medium-term international debt issuance programme, as well as short-term government debt of up to EUR 3.8 billion, which must be repaid by the end of the current fiscal year. The amendments also authorize the Council of Ministers to negotiate and conclude an agreement with the European Commission for a EUR 3.2617 billion loan under the Security Action for Europe (SAFE) instrument, aimed at strengthening the European defence industry. The agreement will be subject to subsequent ratification. Bulgaria Yoana Vodenicharova Anelia Tsvetkova https://www.bta.bg/en/news/bulgaria/1143523-all-pensions-granted-by-end-2025-to-increase-by-7-8-labour-minister-says https://www.bta.bg/en/news/bulgaria/1143523-all-pensions-granted-by-end-2025-to-increase-by-7-8-labour-minister-says Tue, 09 Jun 2026 14:49:25 +0300 All pensions granted by the end of 2025 will be increased by 7.8%, Labour and Social Policy Minister Nataliya Efremova, who is also a member of the Supervisory Board of the National Social Security Institute, said on Tuesday ahead of a meeting of the board. The Supervisory Board met to approve the annual indexation of pensions granted by the end of 2025. "Calculations show that the decision will be adopted. Together with the decision approved by the National Assembly last week regarding the minimum pension, as well as my proposal to increase the social old-age pension by the same percentage, this will complete the process so that all categories of pensions receive the same percentage increase," Efremova said. She added that this would ensure equal treatment of all groups of pensioners, who will receive higher pensions as of July 1. Bulgaria Veneta Litkova Desislava Peeva https://www.bta.bg/en/news/economy/1143511-financial-supervision-commission-revokes-insurance-license-of-dallbogg-life-and https://www.bta.bg/en/news/economy/1143511-financial-supervision-commission-revokes-insurance-license-of-dallbogg-life-and Tue, 09 Jun 2026 14:37:25 +0300 The Financial Supervision Commission (FSC) decided to revoke the insurance license of DallBogg: Life and Health Insurance Joint Stock Company AD, the regulator said, reporting a decision made on Tuesday. Further details will be announced by the FSC later today. In early April, the Financial Supervision Commission imposed a ban on the DallBogg: Life and Health Insurance Company from concluding new insurance or reinsurance contracts across all or specific classes of insurance, as well as from extending the terms of existing contracts or expanding their coverage. The FSC said the ban is intended to protect the interests of policyholders and to ensure the company's solvency. The measure came in response to violations of market conduct rules and breaches of the Insurance Code.  Protests, organized by the DallBogg: Life and Health Insurance Company and its clients in May in front of the Council of Ministers building, demanded the resignation of Financial Supervision Commission's leadership team. The demonstrators rallied against the rising cost of the mandatory insurance against civil liability. Economy Risida Dimitrova Veselina Yordanova https://www.bta.bg/en/news/economy/1143333-energy-regulator-discusses-4-58-average-rise-in-heating-hot-water-prices-from- https://www.bta.bg/en/news/economy/1143333-energy-regulator-discusses-4-58-average-rise-in-heating-hot-water-prices-from- Tue, 09 Jun 2026 11:59:30 +0300 The Energy and Water Regulatory Commission (EWRC) held an open meeting on Tuesday to discuss the new heat energy prices for the period from July 1, 2026 to June 30, 2027. The Commission proposed a weighted average increase of 4.58%, while in their price applications of March 31 the companies had requested an average rise of 30.65%. EWRC Chair Plamen Mladenovski said that prices should be affordable for citizens. Boyan Paunov, Director of the Electricity and Heat Energy Directorate at EWRC, said that almost all companies are increasing their technological costs or keeping them at the same level, and these are costs that directly enter the price of heat energy. “We will carefully examine all objections,” he said. For Toplofikatsia Sofia EAD, the current price is proposed to increase by 5.50%, compared with a 29% increase requested by the company. Executive Director Petar Petrov said during the discussion that wage costs and contributions in EWRC’s report are lower than those currently approved. It should be taken into account that finding staff in the heat energy sector is difficult and should be motivated by better conditions that the company must provide, he said. “We have commitments to our employees and would ask that the price be reconsidered in this part,” Petrov added. EWRC member Tasko Ermenkov said that the company wants to raise wages, but this should not be done at the expense of everyone else. “This is not the way, and perhaps we should have heard from Toplofikatsia Sofia how it will reduce its losses and improve its efficiency,” he said. For EVN Bulgaria Toplofikatsia EAD, EWRC proposes a 3.70% increase, compared with a 12.69% increase requested by the company. Shteryo Radev, a representative of the company, noted that technological costs had been significantly reduced in the regulator’s report. “We understand that we must strive to reduce losses and we are investing gradually, and it is important that the real condition of the network and a more objective level of costs be recognized,” he said. For the individual district heating companies, the changes proposed by EWRC from July 1 this year are as follows: for Toplofikatsia Pleven EAD, a 5.54% increase in the current price, compared with an 11.27% increase requested by the company; for Toplofikatsia Burgas EAD, a 3.66% increase, compared with a 17.28% increase requested by the company. For Toplofikatsia Vratsa EAD, EWRC proposes a 3.59% increase, compared with a 49.42% increase requested by the company; for Toplofikatsia VT AD, a 4.99% increase in the current price, compared with 26.02% requested by the company; for Toplofikatsia Razgrad EAD, a 4.98% increase in the current price, compared with 15.35% requested by the company; and for Yuliko-Eurotrade EOOD, a 3.39% increase in the current price, compared with 64.61% requested by the company. For Toplofikatsia Ruse AD, EWRC proposes a 5% increase in the current price, compared with a 69.05% increase requested by the company; for Toplofikatsia Pernik EAD, a 4.23% increase in the current price, compared with 29.68% requested by the company; for Toplofikatsia Sliven EAD, a 5.18% increase in the current price, compared with 33.37% requested by the company; and for Veolia Energy Varna EAD, a 5.19% increase in the current price, compared with 10.05% requested by the company. As the Commission held its meeting, citizens protested outside the EWRC building against the planned increases in electricity, heating and hot water prices. Economy Tatiana Marinova Kamelia Tsvetanova https://www.bta.bg/en/news/economy/1143219-energy-regulator-to-hold-open-meetings-to-discuss-proposed-increase-of-electrici https://www.bta.bg/en/news/economy/1143219-energy-regulator-to-hold-open-meetings-to-discuss-proposed-increase-of-electrici Tue, 09 Jun 2026 07:47:00 +0300 The Energy and Water Regulatory Commission (EWRC) will hold open meetings to discuss the new prices of electricity and heat energy for the period from July 1, 2026 to June 30, 2027, according to the regulator’s agenda for Tuesday. On June 3, EWRC published price proposals envisaging an average 3% increase in household electricity prices and a 4.58% rise in heat energy prices from July 1. EWRC proposed a 3,11% increasement of electricity prices for Electrohold Sales EAD, a 3,24% price raise for EVN Bulgaria Elektrosnabdiavane and a 2,38% growth of ENERGO-PRO SALES AD prices. Regarding heat energy prices for household customers for the period from July 1, 2026 to June 30, 2027, the Commission proposes a weighted average increase of 4.58%. By comparison, in their price applications submitted on March 31 this year, the companies requested an average increase of 30.65%. Economy Tatiana Marinova https://www.bta.bg/en/news/economy/1143145-evgeni-simeonov-introduced-as-newly-appointed-administrator-of-lukoil-assets-in- https://www.bta.bg/en/news/economy/1143145-evgeni-simeonov-introduced-as-newly-appointed-administrator-of-lukoil-assets-in- Mon, 08 Jun 2026 20:30:00 +0300 Lukoil Neftohim Burgas hosted a press conference here on Monday, during which Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev officially introduced Evgeni Simeonov as the newly appointed special commercial administrator of the Lukoil assets in Bulgaria. Poulev reported that the government's key priorities are preserving, safeguarding and developing national sovereignty, protecting Bulgarian consumers and strengthening the energy system. The government is faced with the difficult task of seeking local solutions to global problems, he added. The Minister was adamant that Simeonov is not a political appointment but an expert with proven experience within the Ministry of Economy. Commenting on the decision to replace Rumen Spetsov as special commercial administrator of the Lukoil assets in Bulgaria, Poulev said that there were several reasons. First, the Minister questioned Spetsov's preparedness to manage an enterprise so significant to the Bulgarian economy, especially amid a global fuel crisis. Second, Poulev stated that accountability during Spetsov's time working for Neftohim was insufficient.  Poulev reported that there are no plans, nor can there be any plans to nationalize Lukoil in a European Union Member State such as Bulgaria. At the same press conference, Simeonov reported that preliminary information indicates that crude oil deliveries to the Lukoil Neftohim refinery in Burgas are guaranteed until the end of July. As his first and most important priority, he identified the preparation of a detailed analysis of the current state of the refinery and Lukoil's other companies in Bulgaria, including their financial condition, raw material inventories and existing contracts. Simeonov said: "I hear that the refinery is in good condition, yet 2025 ended with a loss of around EUR 200 million. We need to determine why this is the case," he said. The optimistic timeframe for completing the analysis is one month, while a subsequent independent financial audit will take considerably longer. Economy Nikolay Zabov https://www.bta.bg/en/news/economy/1143034-bulgaria-backs-balanced-approach-protection-of-transport-competitiveness-at-eu- https://www.bta.bg/en/news/economy/1143034-bulgaria-backs-balanced-approach-protection-of-transport-competitiveness-at-eu- Mon, 08 Jun 2026 18:53:00 +0300 Bulgarian Transport and Communications Minister Georgi Peev presented his country's position at Monday's EU Transport, Telecommunications and Energy Council meeting in Luxembourg, Peev's Ministry said in a press release. Deputy Minister Hristina Velinova also attended the Council meeting. Bulgaria reaffirmed its consistent policy line favouring a realistic and socially just decarbonization which does not impose unnecessary administrative and financial burdens for business and individuals. On the automotive package, Peev declared himself for a balanced approach to the new requirements for corporate vehicles. He emphasized that Bulgaria supports the green transition, but it should be implemented through economic incentives and exchange of good practices rather than through mandatory registration targets for a minimum share of zero-emission vehicles that would burden small and medium-sized enterprises. The Minister noted that the rules should reckon with the different degree of readiness of the recharging infrastructure in the different Member States.  During the debate on decarbonization, an emphasis was laid on the significance of rail transport as an environment-friendly alternative. Bulgaria is already carrying out specific action for the modernization of this mode of transport by purchasing new electric-powered trains on funds from the National Recovery and Resilience Plan. Within the framework of the Council, Peev held bilateral meetings with his French and Croatian counterparts. With France's Transport Minister Philippe Tabarot, the Bulgarian representative highlighted the need of proper cooperation between the road transport control authorities with strict observance of EU law and avoidance of imposing wrongful fines for traffic violations. The readiness for finding a durable solution to the issue was confirmed. With Croatia's State Secretary for Road Transport, Road Infrastructure and Inspection and Civil Aviation Tomislav Mihotic, Peev discussed the possibility of launching a direct air service between Sofia and Zagreb. Economy Lyubomir Gigov https://www.bta.bg/en/news/economy/1143014-bulgaria-may-have-to-pay-eur-3-bln-for-lukoil-s-assets-after-litasco-files-arbit https://www.bta.bg/en/news/economy/1143014-bulgaria-may-have-to-pay-eur-3-bln-for-lukoil-s-assets-after-litasco-files-arbit Mon, 08 Jun 2026 18:41:01 +0300 Addressing a press conference at Lukoil Neftohim Burgas here on Monday, Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev said that there are no plans, nor can there be any plans to nationalize Lukoil in a European Union Member State. Poulev warned of a serious threat to the State – an arbitration dispute filed by Litasco, the Swiss co-owner of the Bulgarian asset group, which puts the country at risk of having to pay EUR 3 billion. The Minister said: "This was the Borissov model [Boyko Borissov, former prime minister and Chair of the GERB party] – 30 seconds of aggression in the hall, in the committee. We will fight this legacy." Poulev was adamant that private property should be treated as sacred and inviolable. Commenting on the decision to replace Rumen Spetsov as special commercial administrator of the Lukoil assets in Bulgaria, Poulev said that there were several reasons for it. First, the Minister questioned Spetsov's preparedness to manage an enterprise so significant to the Bulgarian economy, especially amid a global fuel crisis. Second, Poulev said there was insufficient accountability. He said that the regulatory requirement upon taking office is to submit a six-month plan demonstrating capacity and understanding of the processes at Lukoil. He added that no such plan has been submitted to date. The requirement for regular reporting to the National Assembly has also not been met. He thanked all parliamentary parties for urgently establishing a new basic reporting framework under which the Ministry of Economy will receive regular reports. The third reason relates to the legality of Spetsov's actions. The Minister reported that he possesses confidential information on the matter that he cannot disclose publicly. Poulev stated that the new special commercial administrator, Evgeni Simeonov, will work independently, without any form of political pressure, but the government will demand accountability and professionalism. Economy Nikolay Zabov BTA correspondent Galya Teneva https://www.bta.bg/en/news/economy/1142997-crude-oil-deliveries-to-neftohim-refinery-thought-to-be-guaranteed-until-end-jul https://www.bta.bg/en/news/economy/1142997-crude-oil-deliveries-to-neftohim-refinery-thought-to-be-guaranteed-until-end-jul Mon, 08 Jun 2026 18:20:00 +0300 Preliminary information indicates that crude oil deliveries to the Lukoil Neftohim refinery in Burgas are guaranteed until the end of July, said Evgeni Simeonov on Monday, his first day as special commercial administrator for Lukoil's businesses in Bulgaria. He added that he is awaiting an official report before making any definitive statement. Simeonov, who was appointed to his new position on June 3, was officially presented to the media on Monday by Deputy Prime Minister and Economy, Investment and Industry Minister Alexander Poulev. Simeonov stated that the main objective is to guarantee the uninterrupted operation of the Neftohim refinery and the smooth supply of fuels to the Bulgarian market. As his first and most important priority, he identified the preparation of a detailed analysis of the current state of the refinery and Lukoil's other companies in Bulgaria, including their financial condition, raw material inventories and existing contracts. "I hear that the refinery is in good condition, yet 2025 ended with a loss of around EUR 200 million. We need to determine why this is the case," he said. The optimistic timeframe for completing the analysis is one month, while a subsequent independent financial audit will take considerably longer. The new administrator stressed that strict compliance with the sanctions regimes imposed by the United States, the United Kingdom and the European Union is among his leading priorities. He announced that monitoring of production will be introduced, including refinery utilization rates, the grades of crude oil used and the blending process. Regarding fuel prices, Simeonov pointed out that they depend on numerous external factors. "The crisis in the Persian Gulf is placing enormous pressure on prices not only in Bulgaria but across Europe," he said, adding that the planned analysis will also clarify the prices at which the company has purchased crude oil. "Low fuel prices and expensively purchased crude oil are two incompatible things," Simeonov stated. Asked about possible job cuts, he replied that there will be none. Asked about the share of fuel supplies originating from South America and the Persian Gulf, Simeonov said the answer will become clear after he receives and reviews the company's analysis. "My goal is to restore normality at the refinery and within the group's companies. When I have the full picture, I will once again invite the media and provide the public with the necessary information," Simeonov said. Economy Valentin Evstatiev BTA correspondent Galya Teneva https://www.bta.bg/en/news/economy/1142991-deputy-pm-poulev-expects-transparency-professional-management-strict-financial https://www.bta.bg/en/news/economy/1142991-deputy-pm-poulev-expects-transparency-professional-management-strict-financial Mon, 08 Jun 2026 18:15:38 +0300 Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev officially introduced Evgeni Simeonov as the newly appointed special commercial administrator of the Lukoil assets in Bulgaria at a press conference at Lukoil Neftohim Burgas on Monday. Poulev said that transparency, professional management and strict financial discipline were expected of the new administrator, and expressed confidence that "Lukoil is in good hands". Also attending the news conference were Deputy Economy Minister Mihaela Karadimova and Burgas Regional Governor Diko Dikov. Poulev said the government's key priorities are preserving, safeguarding and developing national sovereignty, protecting Bulgarian consumers and strengthening the energy system. The government is faced with the difficult task of seeking local solutions to global problems, he said, describing the energy sector as the clearest example in light of the current geopolitical upheavals. The Economy Minister also said the International Energy Agency had described the current period as unprecedented in the history of the global energy sector. Against this backdrop, the government has taken decisive measures to strengthen Lukoil's economic models and ensure management with the necessary experience, expertise and capacity. Poulev stressed that, through its extensive presence in the retail market, Lukoil largely determines fuel prices at the pump, making it critically important for the asset to be managed professionally and with full accountability to the government and Bulgarian citizens. Introducing the new administrator, the Deputy Prime Minister stressed that Evgeni Simeonov was not a political appointment. He is an expert with proven experience within the Ministry of Economy, Investment and Industry, Poulev said, noting that Simeonov had worked there for over ten years and had risen to the position of President of the State Agency for Metrological and Technical Surveillance. Among the new administrator's achievements, Poulev highlighted strengthened oversight of petrol stations and fuel quality, the prevention of a crisis linked to the widespread use of diluents - a problem that affected neighbouring countries - as well as increased revenue collection. Simeonov's six-month development plan for Lukoil was unanimously approved by the Security Council and adopted as a matter of urgency by the Council of Ministers, said Poulev. Economy Diana Dukovska BTA correspondent Galya Teneva https://www.bta.bg/en/news/economy/1142949-tourism-minister-to-attend-126th-session-of-un-tourism-s-executive-council-in-to https://www.bta.bg/en/news/economy/1142949-tourism-minister-to-attend-126th-session-of-un-tourism-s-executive-council-in-to Mon, 08 Jun 2026 16:48:40 +0300 Tourism Minister Ilin Dimitrov will take part in the 126th session of UN Tourism's Executive Council, which will be held on June 10 and 11, 2026, in Toledo, Spain, the Ministry's press centre announced on Monday. Bulgaria is a member of the Executive Council of UN Tourism with a mandate until 2027, which gives the country the opportunity to participate directly in discussions on important decisions concerning the development of global tourism. Economy Momchil Rusev https://www.bta.bg/en/news/economy/1142842-expert-calls-for-restart-of-fiscal-decentralization https://www.bta.bg/en/news/economy/1142842-expert-calls-for-restart-of-fiscal-decentralization Mon, 08 Jun 2026 15:46:00 +0300 Fiscal Council (FC) member Desislava Kalcheva called for a restart of fiscal decentralization in Bulgaria during a public presentation of her monograph on the subject, the FC reported on Monday. The monograph is titled "Fiscal Decentralization and Municipal Tax Autonomy - Opportunities for Restarting the Process in Bulgaria". It examines centralization tendencies, presents a survey examining the attitudes of Bulgarian municipalities towards current tax policy, and suggests ways to boost local tax revenues. The study draws on examples from international experience, including the updating of property tax assessments in Denmark and Ireland, the tax revenue-sharing mechanism used in Czechia, and a broader overview of the issue across the European Union. Among the conclusions of the monograph is that fiscal decentralization in Bulgaria has effectively been suspended and that the process needs to be restarted. It notes that after the progress recorded in 2007-2008, the process gradually slowed, with no subsequent meaningful measures taken to expand it further. The study also points out that the share of municipalities' own-source revenues is very low, accounting for 5% of public revenues and only 2% of GDP, while municipalities remain highly dependent on transfers and the state budget. According to the survey of municipalities included in the monograph, the main proposals for increasing revenues are the introduction of annual or periodic updates of property tax assessments to levels closer to market values; the sharing of national taxes, particularly personal income tax, with proposals ranging from 30% to 70% in favour of municipalities, as well as a share of corporate tax revenues; and the taxation of agricultural land (BGN 20-30 per hectare or a differentiated rate of 0.5%-2%), which is considered particularly important for rural municipalities. Economy Valentin Evstatiev Anelia Tsvetkova https://www.bta.bg/en/news/economy/1142789-bulgaria-had-eu-s-highest-share-of-foreign-currency-government-debt-at-end-of-20 https://www.bta.bg/en/news/economy/1142789-bulgaria-had-eu-s-highest-share-of-foreign-currency-government-debt-at-end-of-20 Mon, 08 Jun 2026 14:53:00 +0300 Bulgaria had the highest share of foreign-currency-denominated government debt in the European Union at the end of 2025, according to data released by Eurostat on Monday. At the end of 2025, 75% of Bulgaria's gross government debt was denominated in foreign currencies, including 71% in euro. Bulgaria joined the euro area on January 1, 2026. Eurostat notes that the structure of gross government debt differs considerably across EU Member States. These differences concern factors such as the original and remaining maturity of debt, the instruments used and the institutional sectors holding the debt. However, a more uniform picture emerges when government debt is examined by currency denomination. By the end of 2025, virtually all gross government debt in euro area countries was denominated in euro, accounting for more than 99.5% of debt in all euro area Member States. Among countries outside the euro area, more than 90% of government debt was denominated in national currencies in Czechia and Sweden. Bulgaria and Romania were the only two EU countries where more than half of gross government debt was denominated in foreign currencies at the end of 2025. Romania's share stood at 53%. Significant shares of foreign-currency debt were also recorded in Hungary (32%), Poland (26%) and Denmark (24%). For all EU countries outside the euro area, the majority of foreign-currency debt was denominated in euro. Across the EU, more than 90% of gross government debt was denominated either in euro or, for non-euro area countries, in their national currencies. Eurostat data also show that Romania recorded the highest apparent cost of government debt among the countries for which data were available in 2025, at 5.2%, followed by Poland (4.5%), Czechia (3.1%) and Italy (3.0%). The lowest levels were reported in Ireland (1.4%), Luxembourg (1.5%), the Netherlands (1.7%), Germany (1.8%), and France, Finland and Sweden (all 1.9%). The apparent cost of government debt either increased slightly or remained broadly stable in most EU Member States between 2024 and 2025. Economy Yoanna Vodenova Elena Savova https://www.bta.bg/en/news/economy/1142715-lublin-burgas-air-route-opens-summer-season https://www.bta.bg/en/news/economy/1142715-lublin-burgas-air-route-opens-summer-season Mon, 08 Jun 2026 14:22:17 +0300 The summer season on the Lublin-Burgas air route was officially launched at Lublin Airport, the Ministry of Tourism said here on Monday.  The event was organized jointly by Lublin Airport, the Embassy of Bulgaria in Poland and Bulgaria's National Tourist Office in Warsaw.  Deputy head of mission at the Bulgarian Embassy in Poland Viktor Benov wished passengers an enjoyable and memorable stay in Bulgaria and expressed hope that more Bulgarian tourists would also discover the attractions and tourism potential of Lublin and the surrounding region.  The launch of the route was also welcomed by Deputy Marshal of the Lublin Voivodeship Piotr Bres, who highlighted the airport's role in the development of tourism and business in the region.  Following a record year in 2025, when Lublin Airport handled more than 470,000 passengers, expectations are that traffic will exceed half a million passengers this year.  The festive programme included performances by the Izgrev folklore ensemble, which showcased Bulgarian folklore.  Poland remains one of Bulgaria's key inbound tourism markets, and the direct Lublin-Burgas route represents another step towards improving air connectivity between the two countries.  Bulgaria's National Tourist Office in Warsaw said it would continue working to strengthen the country's position as a year-round tourist destination and encourage travel between Bulgaria and Poland.  Economy Teodora Lyubenova https://www.bta.bg/en/news/bulgaria/1142510-leading-retail-chains-reduce-product-prices-within-care-basket-initiative https://www.bta.bg/en/news/bulgaria/1142510-leading-retail-chains-reduce-product-prices-within-care-basket-initiative Mon, 08 Jun 2026 12:12:00 +0300 Leading retail chains will reduce prices of products included in a basic consumer basket within the framework of the national "Care Basket" initiative, after a joint campaign of the government and the chains was presented on Monday at the Council of Ministers. Prime Minister Rumen Radev thanked the chains for their cooperation and social responsibility. "These are not promotions, but a voluntary commitment that you make to the government and to the Bulgarian citizens," Radev addressed the chain representatives. He added that the next step is the cooperation between the chains, the government and Bulgarian producers, who will work to strengthen and expand production, so that there is price stability, greater competition and quality. Albena Georgieva from Billa pointed out that the initiative aims to achieve accessibility of basic food products. From June 18, over 100 products will be available in the chain's retail network, marked in a special way. They have been selected from the best-selling products from these categories, in which Bulgarian production is also included, she said. Toni Petkova from the Dar retail chain said that the products with a minimum of 15% reduction are from 28 categories with a minimum of 40 items, which they will maintain for a period of six months. Ivan Chernev from Kaufland said that the chain will sell basic products at affordable prices from Monday. The initiative covers the most frequently purchased products for every household, he added. Diana Georgieva from the CBA retail chain noted that about 50 products will be reduced by at least 15% to 30% from June 11. Milena Dragijska from Lidl explained that the chain will start with just over 30 products with reduced prices, and half of them are from Bulgarian producers. "We are prepared to continue this initiative for eight months, but we think it should cover the winter season as well," she added. Evgeni Mitev from Metro said that from June 10 the chain will also be joining with over 100 products in support of households and businesses. Dragiya Dragiev from Minimart said that the increase in food prices is one of the most important topics in recent months. The products with reduced prices will be available at the beginning of next week, he added. Nikolay Kanev from Fantastico said that the chain will include at least 50 basic commodities that can be purchased from Monday. Bulgaria Kristina Ivanova Kamelia Tsvetanova https://www.bta.bg/en/news/economy/1142467-government-launches-care-basket-initiative-with-15-price-cuts-on-basic-food-p https://www.bta.bg/en/news/economy/1142467-government-launches-care-basket-initiative-with-15-price-cuts-on-basic-food-p Mon, 08 Jun 2026 09:53:00 +0300 The prices of products included in a basic consumer basket will be reduced by 15% for at least six months under the National Care Basket initiative, a joint campaign between the government and leading retail chains, Minister of Agriculture and Food Plamen Abrovski said at the launch of the initiative at the Council of Ministers on Friday. Abrovski said some retail chains had committed to maintaining the discounts for a longer period and to expanding the range of products covered by the initiative. He thanked representatives of the participating retail chains for the intensive discussions held over the past two weeks and for voluntarily joining the campaign to help Bulgarian consumers gain access to affordable, high-quality food. In an interview earlier on Monday, Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev said that the immediate priority was to address a much more pressing short-term challenge by demonstrating solidarity and social responsibility towards the most vulnerable households, pensioners and people in need of strong support and coordination between the government and modern retail chains. Poulev said the initiative was intended to help vulnerable groups cope with the effects of the successive crises that have affected household budgets. The event was opened by Prime Minister Rumen Radev, who said that keeping price increases of essential food products under control was one of the government's top priorities. Radev thanked the representatives of the retail chains that had joined the initiative aimed at limiting the prices of basic food products. "Today we are establishing a strategic partnership between the retail chains and the government, a partnership focused on ensuring stability, predictability and social responsibility towards the most vulnerable groups in society at a time of crisis and high inflation," the Prime Minister said. He also thanked Poulev and Abrovski for their work on preparing the initiative over the past several weeks. Economy Yoanna Vodenova Kamelia Tsvetanova