https://www.bta.bg/en/news/economy/rss Sat, 13 Jun 2026 23:25:49 +0300 en hourly 1 https://www.bta.bg/en/news/economy/1146756-fuel-prices-in-bulgaria-decline-amid-expectations-of-possible-peace-agreement-be https://www.bta.bg/en/news/economy/1146756-fuel-prices-in-bulgaria-decline-amid-expectations-of-possible-peace-agreement-be Sat, 13 Jun 2026 14:10:44 +0300 Fuel prices in Bulgaria have continued to decline over the past week amid expectations of a possible peace agreement between the United States and Iran, easing tensions on international energy markets. The downward trend persisted throughout the week, and optimism remains, although it is still far from the levels seen before the conflict. The average price of A95 petrol, published daily by the National Revenue Agency (NRA), has remained at around EUR 1.52 per litre for more than a week, while diesel fuel has averaged EUR 1.59 per litre in recent days, according to NRA data. The situation and market developments are being monitored on a daily basis, but the near future remains difficult to predict, Bulgarian Petroleum and Gas Association (BPGA) Chair Svetoslav Benchev told BTA. According to him, even if the conflict in the Middle East comes to a definitive end, uncertainty will continue to affect prices for some time because restoring supplies will not happen overnight and will depend on various factors, including the condition of oil extraction infrastructure and facilities. "At one point, diesel prices rose sharply due to fears of a shortage in Europe and globally, but those fears did not materialize and prices began to decline slightly. As for petrol, we observed the opposite trend at the beginning of spring. The market is generally testing whether there will be stronger summer demand. I do not believe there will be, and the prices themselves suggest there will not be," Benchev said. He added that the reserves currently being used worldwide will be depleted in the foreseeable future and that a clear solution must be found before then. Regarding Bulgaria, Benchev said there are no problems with fuel supplies. "We need to see what happens globally; that is currently the only factor influencing prices," the expert commented. Another issue of concern for the association is combating the grey economy in the fuel sector, which, according to BPGA estimates, causes millions of euros in annual losses to the state budget. Measures to address the problem were discussed this week at a meeting with the management of the Customs Agency. Following the outbreak of the conflict in the Middle East at the end of February, Bulgaria introduced a compensation scheme for individuals to offset rising fuel prices. The programme is in force until the end of June. The assistance amounts to EUR 20 per month and is granted when the average price of A95 petrol or diesel exceeds EUR 1.60 per litre for three consecutive days. In response to an inquiry from BTA, the press office of the Labour and Social Policy Ministry said that the total value of compensation payments for March, April and May amounted to EUR 12,970,320. For March, assistance was paid to 182,856 people, amounting to a total of EUR 3.66 million. In April, 231,810 people received compensation worth EUR 4.64 million in total, while EUR 4.67 million is due to be paid for May to 234,169 beneficiaries. Economy Momchil Rusev https://www.bta.bg/en/news/economy/1146763-participants-in-energy-forum-call-for-preserving-maritsa-east-complex-and-adopti https://www.bta.bg/en/news/economy/1146763-participants-in-energy-forum-call-for-preserving-maritsa-east-complex-and-adopti Sat, 13 Jun 2026 14:05:00 +0300 Representatives of local government, the energy sector and business voiced support for preserving the Maritsa East energy complex and called for a long-term national energy strategy during the first Energy Future of Bulgaria – Regional Perspectives and Sustainable Development forum, organized by the Balkan Media Association in Bulgaria on Saturday. Speaking at the event, Stara Zagora Deputy Mayor Radostin Tanev said the municipality does not view decarbonization as a process that should lead to the closure of the Maritsa East complex, but rather as an opportunity to accelerate the region's industrial development. He stressed that the local administration would "fight to the very end" against proposals calling for the rapid shutdown of the complex. Earlier this week, the Council of Ministers tasked Energy Minister Iva Petrova with preparing measures related to the restructuring of the Bulgarian Energy Holding (BEH). The reform envisages separating Mini Maritsa Iztok and TPP Maritsa East 2 from the holding structure. The decision was subsequently criticized by the Podkrepa Trade Union's Miners' Federation and the Federation of Independent Miners' Trade Unions affiliated with the Confederation of Independent Trade Unions in Bulgaria (CITUB), which said they were prepared to take all legal actions available to them. Tanev said the municipality is actively working to develop Stara Zagora as an industrial centre. According to municipal data, investments worth EUR 255 million were attracted in 2025, accompanied by agreements for the creation of 1,800 jobs. Over the past four years, total investment has exceeded EUR 800 million and more than 4,000 jobs have been created. He noted that all plots in the Zagore Industrial Zone have been sold. Some enterprises are already operating, while others are under construction. Three companies are currently building facilities in the Zagore-Elenino Industrial Zone, while two additional projects have received construction permits and are expected to begin shortly. Several other projects are awaiting final certification as priority investments. According to Tanev, the municipality seeks to attract investors engaged in high value-added production. "Stara Zagora is not a place that will attract investors looking for low-skilled labour," he said, adding that the region has a highly qualified and well-educated workforce. The municipality is currently preparing a strategy aimed at attracting additional labour to the region. Mini Maritsa Iztok Executive Director Todor Todorov also participated in the forum. He noted that the company will celebrate its 75th anniversary next year and highlighted its importance to Bulgaria's energy sector and economy. While acknowledging the significance of the company's history, Todorov said employees are primarily concerned about the future. "What matters to us is our future because we must continue to exist," he said. According to him, changes will inevitably be required, but these should be guided by a clear energy strategy. "We must base our assessment of tomorrow on facts, calculations and clear rules rather than speculation and people's fears. That is extremely important for us," Todorov said. He added that Mini Maritsa Iztok has demonstrated over the years that it can continue operating while preserving jobs and employment. Brikel Executive Director Yanilin Pavlov also stressed the need for a national energy strategy. "There must be a vision for Bulgaria's energy strategy and energy security. This cannot be achieved without the Maritsa East complex because without it there can be no stability in Bulgaria's energy system," Pavlov said. The forum brought together representatives of central and local government, business, academia, trade unions and non-governmental organizations to discuss energy security, the energy transition, the future of coal regions, new technologies and opportunities for sustainable economic growth. Participants included Members of Parliament Daniel Parushev and Iskra Mihaylova, Stara Zagora Chamber of Commerce and Industry Chair Oleg Stoilov, representatives of local authorities, trade unions and energy-sector experts. Economy Yoanna Vodenova BTA correspondent Pavlina Dudeva https://www.bta.bg/en/news/economy/1146685-mp-calls-for-reform-of-executive-pay-rules-in-state-owned-companies-and-institut https://www.bta.bg/en/news/economy/1146685-mp-calls-for-reform-of-executive-pay-rules-in-state-owned-companies-and-institut Sat, 13 Jun 2026 11:24:02 +0300 Progressive Bulgaria's MP Stefan Belchev, Chair of the Parliamentary Committee on Economic Policy, Ivestments, and Indusrty, has called for ending the automatic increase of executive salaries in state-owned companies and public institutions through their linkage to the minimum wage. In a Facebook post on Saturday, Belchev argued that while rank-and-file employees in key sectors have waited years for pay increases, remuneration for members of management boards and executive directors has risen sharply. According to him, salaries for executives increased by around 50% between 2024 and 2026 following the introduction of a mechanism linking the minimum wage to 50% of the average national wage. Since executive remuneration is tied to the minimum wage under Article 56 of the Rules for the Implementation of the Public Enterprises Act, management salaries rose automatically over the same period. Belchev said the increase has occurred even in institutions facing serious financial difficulties or operating at a loss. He cited state-owned hospitals as an example, noting that medical staff have staged protests demanding better pay while hospital debts continue to grow and management remuneration rises automatically. He also referred to the National Palace of Culture and the six state forestry enterprises, arguing that executive pay has continued to increase despite financial challenges and difficult working conditions for ordinary employees. According to Belchev, the current system allows for the manipulation of performance indicators used to determine executive remuneration. He said that, with the approval of line ministers, certain financial and performance criteria can be modified in a way that helps maintain high evaluation scores and correspondingly high salaries. Belchev further claimed that substantial remuneration is also paid to members of audit committees, who are appointed from outside the management boards and whose compensation is often linked to the minimum wage or the enterprise's average salary. He also alleged that additional benefits for senior management are sometimes provided through collective labour agreements or social programmes, including holiday bonuses and other allowances that remain largely outside public scrutiny. Belchev argued that the methodology governing such remuneration is determined by the Council of Ministers and that successive governments have lacked the political will to reform the system. He called for urgent amendments to the rules governing public enterprises, stricter limits on changes to performance indicators and evaluation scores, and full transparency regarding additional benefits and bonuses granted to senior management. Economy Yoanna Vodenova https://www.bta.bg/en/news/economy/1146491-ec-to-propose-opening-excessive-deficit-procedure-for-bulgaria-commissioner-dom https://www.bta.bg/en/news/economy/1146491-ec-to-propose-opening-excessive-deficit-procedure-for-bulgaria-commissioner-dom Fri, 12 Jun 2026 19:59:18 +0300 The European Commission (EC) will now propose to open an excessive deficit procedure (EDP) for Bulgaria, EU Commissioner for Economy and Productivity Valdis Dombrovskis said at the Economic and Financial Affairs Council (ECOFIN) press conference on Friday, following a meeting of European finance ministers in Luxembourg. Following the opinion of the Economic and Financial Committee (EFC), the EC assessed the compliance of several Member States with the Treaty's deficit criterion and found that Bulgaria was not compliant, Dombrovskis added. On June 3, the Commission assessed that such a procedure could be initiated after an assessment of the EFC. The EC reported that Bulgaria's consolidated government budget deficit amounts to 3.5% of GDP in 2025, and is expected to increase further and remain above 4% through 2027, partly due to planned defence spending. The Commission issued five recommendations for our country, including increasing defence spending, combating the "grey" economy and reforming the tax system, accelerating digitalization, enhancing the independence of regulators, phasing out fossil fuel subsidies, and improving the healthcare system. EXCESSIVE DEFICIT PROCEDURE The EDP is a mechanism designed to ensure that EU Member States return to or maintain discipline in their governments' budgets. To limit government deficit and debt, Member States have agreed reference values, which they have enshrined in the EU treaties: a 3% deficit ratio and a 60% debt ratio. If a member state exceeds or is at risk of exceeding the reference values for deficit or debt, the Commission prepares a report in which it analyses whether the member state concerned is running an excessive deficit. If the Commission believes that an EDP is warranted for a member state, it informs the Council accordingly and proposes that the latter adopt a decision establishing that there is an excessive deficit in the member state concerned. If the Council has concluded that, then it adopts a recommendation and specifies the necessary steps. The recommendation may include a corrective budgetary plan and a deadline. The member state concerned must take the necessary action within six months. If no effective action is taken by the deadline, or if the country fails to comply with the recommendation, the Council may impose sanctions, including a fine of up to 0.05% of the previous year's GDP if the affected country is part of the eurozone. The fine must be paid every six months until the Council determines that the country has taken effective action. If the country continues to fail to meet its obligations, the Council has the right to increase the sanctions. Council decisions and recommendations are adopted under specific voting rules. The member state concerned does not have a vote.  Bulgaria was subject to the same procedure in July 2010, and in June 2012, the Council determined that the grounds for the procedure no longer existed and the enhanced monitoring was terminated. Economy Kristina Ivanova BTA correspondent Nikolay Jeliazkov https://www.bta.bg/en/news/economy/1146515-tourism-committee-chair-meets-with-national-tourism-board-representatives https://www.bta.bg/en/news/economy/1146515-tourism-committee-chair-meets-with-national-tourism-board-representatives Fri, 12 Jun 2026 19:33:04 +0300 At the initiative of parliamentary Tourism Committee Chair Rositsa Kirova, the first working meeting with representatives of the National Tourism Board (NTB) was held, GERB's press centre reported on Friday. The main focus of the discussions was the need for closer cooperation between institutions and the tourism sector to address specific challenges and implement long-term policies in support of Bulgarian tourism. The meeting was attended by NTB Chair Krassimir Guergov, NTB Deputy Chair Martin Zahariev, NTB Executive Director Polina Krastoyanova, NTB Board Chair Stoyan Denchev, and NTB Board Member Rumen Draganov. At the beginning of the meeting, Kirova introduced her team, including Miroslav Borshosh, chief adviser and former tourism minister. "The sustainable development of the sector requires consistency, continuity and the pooling of efforts around national priorities that go beyond the scope of individual mandates and institutions," Kirova said.She stressed that tourism is among the sectors with the greatest potential for economic growth and regional development and that the state and business community need to work as partners to achieve shared goals. "We are deeply grateful that only a week after taking office, you organized this meeting, and that we are the first organization you have met with, which demonstrates your strong commitment to the issues facing the tourism sector," Guergov said. Participants discussed opportunities to establish a sustainable mechanism for coordination between state institutions and the tourism sector, based on shared responsibility and a common vision for developing Bulgaria as a competitive tourism destination. Denchev pointed to the influential role of the chair of the parliamentary tourism committee. He also outlined opportunities for active international cooperation, particularly in maintaining constructive relations with UN Tourism. Among the key topics discussed was the continuation of the idea of creating an interinstitutional "Brand Bulgaria" Fund - a tool intended to unite the efforts of the state, businesses and all stakeholders in building and promoting a unified international image of the country. During the discussion, participants noted that the need to create a national brand for Bulgaria has been debated for years and remains one of the strategic issues for the development of tourism and the economy. Representatives of the National Tourism Board emphasized that the legislative initiative to establish the Brand Bulgaria Fund was developed by Borshosh during his tenure as tourism minister in 2025. The concept envisages the active participation of all relevant institutions, with the Tourism Ministry playing a particularly important role in its implementation. NTB representatives welcomed the declared readiness for open dialogue and expressed support for initiatives aimed at improving coordination between institutions, strengthening the competitiveness of Bulgaria's tourism product, and developing a long-term strategy for promoting Bulgaria on international markets. The meeting concluded with a shared commitment to continue active dialogue and establish concrete mechanisms for cooperation on key sector issues, including the development of a national tourism brand, improvements to the regulatory framework, and solutions to practical challenges raised by tourism businesses, GERB said. Economy Momchil Rusev https://www.bta.bg/en/news/economy/1146487-5th-balkan-business-forum-brings-together-business-leaders-institutions-in-bans https://www.bta.bg/en/news/economy/1146487-5th-balkan-business-forum-brings-together-business-leaders-institutions-in-bans Fri, 12 Jun 2026 18:50:16 +0300 The 5th Balkan Business Forum took place in Bansko on Friday, bringing together representatives of businesses, industry and institutions. The event was organized by the Bulgarian-Turkish Chamber of Commerce (BULTISAD) in partnership with the Bulgarian-Romanian Chamber of Commerce, with the support of the Embassy of the Republic of Turkiye in Bulgaria, Turkiye's Foreign Economic Relations Board, the Executive Agency for the Promotion of Small and Medium-sized Enterprises, and the Bulgarian Investment Agency. Bulgarian Economy Minister Alexander Poulev said that Turkiye is one of Bulgaria's most important partners across a wide range of sectors and one of its key foreign trade partners. He noted that more than 2,200 companies with Turkish capital operate in Bulgaria, describing them as major employers that provide livelihoods for thousands of families and help reduce regional economic disparities. The Government will continue to support economic ties with Türkiye, he said, emphasizing that the relationship is built not only on trade and investment but also on long-standing trust, friendship and cooperation between the two countries. Customs Agency Director Nikolay Shushkov said that Bulgaria plans to modernize and expand its border infrastructure, including the construction of a new border crossing and upgrades to existing facilities. He described Türkiye as Bulgaria's largest trading partner outside the European Union and said that Bulgaria needs to develop its infrastructure in order to double the capacity of the three border crossings between the two neighbouring countries. BULTISAD Board Chair Burhan Nemutlu said that people often talk about the Balkans through the prism of history, but the world is interested in what the region can offer for the future. Bulgarian-Romanian Chamber of Commerce Chair Viktor Gugushev said that the Balkan Business Forum is a platform that creates opportunities. Bansko Mayor Stoycho Banenski stressed that the topics discussed at the Balkan Business Forum are highly relevant and crucial for the region's future. Economic cooperation and investment opportunities in the Balkans are key to accelerating growth and enhancing the competitiveness of countries in the region, he added. The Balkan Business Forum brought together business representatives, investors, institutions and industry leaders from across the region to discuss opportunities for investment, industrial development, innovation and regional economic cooperation. The programme included panel discussions, B2B meetings and opportunities to establish new partnerships. The main discussion topics included transport, logistics and industrial ecosystems; technology and artificial intelligence as drivers of competitiveness; opportunities for Balkan economic cooperation; and investment and industrial growth in Bulgaria. Economy Momchil Rusev BTA correspondent Desislava Velkova https://www.bta.bg/en/news/economy/1146351-stara-zagora-to-host-forum-on-bulgaria-s-energy-future-on-june-13 https://www.bta.bg/en/news/economy/1146351-stara-zagora-to-host-forum-on-bulgaria-s-energy-future-on-june-13 Fri, 12 Jun 2026 16:56:08 +0300 А discussion forum entitled “Bulgaria’s Energy Future: Regional Perspectives and Sustainable Development” will take place on June 13 in Stara Zagora. The event is organized by the Balkan Media Association in partnership with Stara Zagora Municipality. The forum will bring together government officials, business leaders, academics, NGOs, and civil society representatives to discuss Bulgaria’s energy security, the future of coal regions, the energy transition, diversification of energy sources, and opportunities for sustainable economic growth. It aims to promote dialogue among institutions, experts, businesses, and the public on issues shaping the region’s and Bulgaria’s energy future. Speakers in the first panel include MPs Daniel Parushev and Iskra Mihaylova, Stara Zagora Deputy Mayor Radostin Tanev, and executives from Maritsa Iztok Mines, TPP Maritsa Iztok 2, and Brikel. The second panel will feature experts from the energy, gas, legal, academic, and civic sectors, focusing on Europe’s power transmission challenges, the future of coal-fired generation, the economic outlook for coal energy, and prospects for preserving the Maritsa Iztok complex. The event comes shortly after Energy Minister Iva Petrova announced that Maritsa Iztok Mines and TPP Maritsa Iztok 2 will be separated from the Bulgarian Energy Holding structure, a decision strongly criticized by mining unions. Economy BTA Correspondent Emil Dimov Filip Pavlov https://www.bta.bg/en/news/economy/1146250-retail-chains-probed-for-alleged-unfair-commercial-practices-against-farm-produc https://www.bta.bg/en/news/economy/1146250-retail-chains-probed-for-alleged-unfair-commercial-practices-against-farm-produc Fri, 12 Jun 2026 16:25:00 +0300 Bulgaria's Commission on Protection of Competition is launching a preliminary enquiry into pressure allegedly exerted on fruit and vegetable producers and suppliers by retail chains to lower purchase prices in connection with the Government's Care Basket Initiative, the Commission said in a press release on Friday. In a preliminary analysis, the Commission found that the products specified in producers' allegations submitted to the Ministry of Agriculture and Food are not included in the campaign. At this point, no information is available to link the allegations to the initiative. Based on information received, the anti-trust watchdog is launching a preliminary enquiry into another two retail chains regarding possible unfair commercial practices against fruit and vegetable producers and suppliers.  The Commission recalled that in late May 2026 it initiated two proceedings against the Kaufland and T-Market retail chains to identify possible unfair commercial practices against suppliers and producers. The proceedings were based on a food market sector analysis and a Commission's enquiry regarding the pricing policy, rebates, mark-ups and terms of business between retailers and suppliers/producers. The intermediate results of the sector analysis showed significant distortions down the supply chain and clues on practices that can place producers and suppliers at a significant disadvantage when agreeing on terms with major retailors.  The Commission said further that if there is reason to believe that violations have been committed, it will launch new proceedings within its powers. On Thursday, Agriculture and Food Minister Plamen Abrovski said, quoted by his Ministry, that the State will protect agricultural producers whenever they complain about pressure and unfair practices impeding their activity. Economy Lyubomir Gigov Anelia Tsvetkova https://www.bta.bg/en/news/balkans/1146285-customs-agency-chief-outlines-plans-to-expand-border-infrastructure-at-balkan-bu https://www.bta.bg/en/news/balkans/1146285-customs-agency-chief-outlines-plans-to-expand-border-infrastructure-at-balkan-bu Fri, 12 Jun 2026 15:40:00 +0300 Bulgaria plans to modernize and expand border infrastructure, including the construction of a new border crossing and upgrades to existing facilities, Customs Agency Director Nikolay Shushkov said at the Balkan Business Forum in Bansko on Friday. Shushkov described Turkiye as Bulgaria’s largest trading partner outside the European Union and said this country needs to develop its infrastructure to double the capacity of the three border crossings between the two neighbouring countries.  He said the number of vehicles crossing the Bulgarian-Turkish border increased by 120% between 2019 and the end of 2025. The Kapitan Andreevo-Kapikule crossing, which he described as Europe’s largest land border customs checkpoint, handled 11 million passengers and 4 million vehicles in 2025, including more than 1 million heavy goods vehicles. According to Shushkov, around 3,000 trucks cross the border daily, with waiting times often ranging from 24 to 72 hours. To address congestion, the Government is accelerating the reconstruction of the Kapitan Andreevo checkpoint to improve infrastructure and streamline customs procedures. He also announced plans for a new border crossing, tentatively named Kapitan Andreevo 2, which would handle all heavy goods traffic. Shushkov said the government also intends to strengthen transport corridors and rail connectivity with Turkiye, including a planned railway link between Yambol and Edirne and upgrades to the road between Yambol and Lesovo. Expansion of the Lesovo border checkpoint is also envisaged. He added that Bulgaria was considering the construction or expansion of border crossings with Serbia and North Macedonia as part of broader efforts to improve regional connectivity and facilitate trade.  The Balkan Business Forum is organized by the Bulgarian-Turkish Chamber of Commerce and Industry in partnership with the Bulgarian-Romanian Chamber of Commerce, with the support of the Embassy of the Republic of Turkiye in Bulgaria, Foreign Economic Relations Board, the Executive Agency for the Promotion of Small and Medium-sized Enterprises and the Bulgarian Investment Agency. The main topics of discussion include transport, logistics and industrial ecosystems; technologies and artificial intelligence as a driver of competitiveness; opportunities for Balkan economic cooperation; investments and industrial growth in Bulgaria. Balkans Metodi Yordanov BTA correspondent Desislava Velkova https://www.bta.bg/en/news/balkans/1146270-turkiye-among-bulgaria-s-most-important-strategic-partners-deputy-pm-poulev https://www.bta.bg/en/news/balkans/1146270-turkiye-among-bulgaria-s-most-important-strategic-partners-deputy-pm-poulev Fri, 12 Jun 2026 15:33:00 +0300 Turkiye is one of Bulgaria’s most significant partners across a range of sectors and one of its key foreign trade partners, with bilateral trade reaching record levels, Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev said at the fifth Balkan Business Forum in Bansko. Poulev noted that more than 2,200 companies with Turkish capital operate in Bulgaria, describing them as major employers that provide livelihoods for thousands of families and help address regional economic disparities. He said the Government will continue to support economic ties with Turkiye, emphasizing that the relationship is built not only on trade and investment but also on long-standing trust, friendship and cooperation between the two countries. Poulev described Turkiye as one of Bulgaria’s principal strategic partners and said the current regular Government intended to advance major joint projects, particularly in the areas of regional cooperation and dialogue.  Referring to the 2023 earthquakes in Turkiye, he recalled Bulgaria’s rapid humanitarian response, saying it demonstrated the solidarity between the two countries and underscored a relationship that goes beyond economic interests.   Commenting on Thursday’s meetings between Prime Minister Rumen Radev, Foreign Minister Velislava Petrova and Turkish Foreign Minister Hakan Fidan, Poulev said they had outlined a strong direction for future cooperation. In addition to traditional areas such as energy and transport, discussions covered regional security and trilateral cooperation among Bulgaria, Turkiye and Romania aimed at strengthening security in the Black Sea region. He said Bulgaria’s administration stood ready to support more ambitious projects in energy infrastructure, transport connectivity and regional integration to improve the Balkans’ competitiveness as a business destination. The Balkan Business Forum is organized by the Bulgarian-Turkish Chamber of Commerce and Industry in partnership with the Bulgarian-Romanian Chamber of Commerce, with the support of the Embassy of the Republic of Turkiye in Bulgaria, Foreign Economic Relations Board, the Executive Agency for the Promotion of Small and Medium-sized Enterprises and the Bulgarian Investment Agency. The main topics of discussion include transport, logistics and industrial ecosystems; technologies and artificial intelligence as a driver of competitiveness; opportunities for Balkan economic cooperation; investments and industrial growth in Bulgaria. Balkans Metodi Yordanov BTA correspondent Desislava Velkova https://www.bta.bg/en/news/economy/1146088-state-owned-commercial-drugs-manufacturer-reports-loss-of-bgn-572-000-as-of-end- https://www.bta.bg/en/news/economy/1146088-state-owned-commercial-drugs-manufacturer-reports-loss-of-bgn-572-000-as-of-end- Fri, 12 Jun 2026 15:04:56 +0300 The state-owned commercial corporation BulBio, which manufactures vaccines and serums, reported a loss of BGN 572,000 as of December 31, 2025, despite having posted a profit of nearly BGN 46,000 in 2024, Minister of Health Katya Ivkova told reporters on Friday. The Minister presented data on the revenues, expenses, and debts of some state-owned hospitals, as well as on the compensation of their directors. By comparison, BulBio's profit in 2021 was BGN 8 million, she added. Unrealized exports amount to over BGN 9 million. BulBio's CEO reported that exports were delayed due to postponed deliveries from UNICEF, Indonesia, and Vietnam, and that the products are currently in storage. An audit team found that the company's internal rules do not regulate payments related to debt management. Ivkova said: "The World Health Organization (WHO) is also inspecting BulBio's laboratories and has made observations, the findings of which we are awaiting. We have requested further clarification from the company's director not only regarding its obligations but also regarding the rectification of the shortcomings identified in the WHO's recommendations." Economy Nikolay Zabov Desislava Peeva https://www.bta.bg/en/news/economy/1146105-un-tourism-secretary-general-to-visit-bulgaria-in-2026 https://www.bta.bg/en/news/economy/1146105-un-tourism-secretary-general-to-visit-bulgaria-in-2026 Fri, 12 Jun 2026 15:04:00 +0300 Bulgarian Tourism Minister Ilin Dimitrov conferred with World Tourism Organization (UN Tourism) Secretary-General Shaikha Nasser Al Nowais during the 126th Session of the UN Tourism Executive Council in Toledo, Spain (June 10-11), Dimitrov's Ministry said in a press release on Friday. As member of the Executive Council with a term ending in 2027, Bulgaria is directly involved in the making of important decisions to define the development of global tourism, the Ministry stressed. Joint projects, like the setting up of an observatory to Measure Quality with the help of UN Tourism, were on the agenda of the meeting. At Dimitrov's invitation, Shaikha will visit Bulgaria later this year in connection with a joint event backed by the world organization. In 2027 Bulgaria will organize an investment forum involving the largest tourist industry companies. The Bulgarian Minister and the UN Tourism Secretary-General also talked about cooperation in establishing an association of higher education institutions training tourism professionals. The initiative will be extended to other Balkan countries as well and will be headquartered in Bulgaria. Bulgaria's Ambassador to Spain Todor Stoyanov also attended the meeting in Toledo. Bulgaria's participation in the international forum is key to promoting the country as a competitive tourism destination and to presenting the national priorities in the field of tourism, the Ministry said. At a gala evening marking the 20th anniversary of the National Board of Tourism on Thursday, Dimitrov said that the purpose of establishing an observatory for measuring quality in tourism is to base policies on tangible data and facts rather than on subjective impressions. The Minister said further that the planned setting up an association of higher education institutions training tourism professionals, initially at national level and later across the Balkans and Europe, is aimed at attracting foreign lecturers and students and fostering exchange of international experience. Economy Ekaterina Toteva Lyubomir Gigov https://www.bta.bg/en/news/economy/1146098-bta-bulgarian-association-of-recycling-sign-partnership-agreement https://www.bta.bg/en/news/economy/1146098-bta-bulgarian-association-of-recycling-sign-partnership-agreement Fri, 12 Jun 2026 14:15:01 +0300 The Bulgarian News Agency (BTA) and the Bulgarian Association of Recycling (BAR) signed a partnership agreement at the BTA National Press Club in Sofia. The agreement was signed by BTA Director General Kiril Valchev and BAR Board of Directors Chairman Zdravko Bikov.  Valchev noted that with this agreement, BTA is expanding its network of partners to include another industry organization - the Bulgarian Association of Recycling, which brings together some of the largest companies in this sector. He explained that BTA’s goal is to represent various sectors of the Bulgarian economy with systematic information and copyright-cleared materials. The signing took place during the month traditionally celebrated worldwide as Environment Month, after technical reasons delayed the initial plan to hold it on World Environment Day, June 5, Valchev noted. He presented BAR with news items from the BTA archives over the years related to the Association. The oldest is from the  2nd BAR National Conference, held in October 1999 at the Albena resort. A review of BTA publications about the Association shows that there have not been that many so far - ranging from one to three per year, said Valchev, adding that there will now be much more systematic coverage in BTA, just as there is for more than 40 industry organizations and about 10 bilateral chambers of commerce and industry. Bikov noted that the Association’s goal is to promote the circular economy, decarbonization, and all efforts toward a greener and more efficient economy in Bulgaria. He expressed the hope that BTA’s coverage of BAR’s activities will increase significantly - from one article per year to many more - and that these activities will provide ample opportunities for quality reporting.  Noting BAR’s membership in the international organization in this field, Valchev pointed out that BTA will also report on the experiences of other countries through its publications, including via its network of correspondents in the Balkans, so as to show where Bulgaria stands within the EU, in Southeast Europe, and globally on this issue. He also noted that one of the reasons for partnering with BAR, in addition to the Agency’s systematic expansion of partners across various industries, is an initiative by BTA employees to donate plastic bottles to support various causes. "So, at BTA you are knocking on an open door in your desire to promote opportunities for the circular economy and recycling," Valchev noted. BAR Executive Director Anna Blagoeva expressed her conviction that the partnership with BTA will help raise the profile of recycling and separate waste collection, as well as help make Bulgaria cleaner. "My appeal to all citizens and businesses is that we must not forget that what is trash to one person is a valuable resource to another," said Blagoeva. She urged us to be responsible, because we have only one planet, we live on it, and our future generations will live here after us. Economy Dimitrina Solakova Anelia Tsvetkova https://www.bta.bg/en/news/economy/1146082-bulgaria-ranks-last-in-eu-for-business-use-of-social-media-in-2025 https://www.bta.bg/en/news/economy/1146082-bulgaria-ranks-last-in-eu-for-business-use-of-social-media-in-2025 Fri, 12 Jun 2026 13:59:00 +0300 Only 41.5% of Bulgarian enterprises with at least 10 employees used social media in 2025, placing Bulgaria last among European Union member states, according to data released by Eurostat on Friday. The EU average stood at 63.6%, up from 61.1% in 2023. According to Eurostat, businesses use social media to strengthen their online presence, support marketing activities, communicate with customers and partners, and facilitate collaboration and knowledge-sharing. Bulgaria recorded the lowest share of companies using social media, at 41.5%. It was followed by Croatia with 46.0% and Hungary with 47.3%. At the opposite end of the ranking, Malta had the highest share, with 88.2% of companies using social media. Finland ranked second with 87.6%, followed by Denmark with 86.1%. The data also show significant differences based on company size. Across the EU, 60.6% of small enterprises used social media. The share rose to 76.2% among medium-sized companies and reached 89.1% among large enterprises. Eurostat noted that business use of social media continues to expand, with platforms increasingly serving as tools for marketing, customer service and corporate communication. Economy Yoanna Vodenova https://www.bta.bg/en/news/economy/1145921-mining-federations-of-podkrepa-and-citub-trade-unions-criticize-separation-of-ma https://www.bta.bg/en/news/economy/1145921-mining-federations-of-podkrepa-and-citub-trade-unions-criticize-separation-of-ma Fri, 12 Jun 2026 12:50:00 +0300 The “Podkrepa” Mining Trade Union Federation and the Federation of Independent Miners’ Trade Unions with the Confederation of Independent Trade Unions in Bulgaria (CITUB) strongly condemned the government's decision to separate Maritsa Iztok Mines and TPP Maritsa Iztok 2 from the structure of the Bulgarian Energy Holding (BEH), according to a joint position published on the Podkrepa website and addressed to Economy Minister Alexander Poulev.  On Wednesday, Energy Minister Iva Petrova said the separation of Maritsa Iztok Mines and TPP Maritsa Iztok 2 from BEH was envisaged under milestone 93 of the National Recovery and Resilience Plan (NRRP). According to Petrova, delays in implementing the reform have put at risk more than EUR 1 billion in funding under the NRRP and the territorial just transition plans. She described the restructuring as part of a broader integrated concept for the Maritsa Iztok complex and said the government would prepare a business and financial plan for the new structure in consultation with trade unions and other stakeholders. The two organizations said they were prepared to take "all legal actions" in response to the decision. The trade unions, however, described the minister's statement as unlawful. They pointed to a decision adopted by the 51st National Assembly on March 19, 2026, which prohibits the Energy Minister from taking actions to alter the holding and capital structure of BEH. According to the unions, the parliamentary decision bans the separation, division or merger of companies, the sale of shares, in-kind contributions and other forms of disposal. They also noted that Petrova served as Deputy Energy Minister when the decision was adopted. The two organizations further rejected Petrova's statement that the reform had been coordinated with trade unions. "You also said, and it is being written on social media, that this was coordinated with the trade unions, which is not true," the position states. The unions also said Petrova did not attend a meeting of the Sectoral Council for Tripartite Cooperation "Coal Mining, Energy Resources and Mining Construction" held at the end of May. At the end of May, Petrova appointed a new Board of Directors of the Bulgarian Energy Holding. Economy Borislava Bibinovska Teodora Lyubenova https://www.bta.bg/en/news/economy/1145885-public-debt-act-amended-on-first-reading https://www.bta.bg/en/news/economy/1145885-public-debt-act-amended-on-first-reading Fri, 12 Jun 2026 12:08:19 +0300 Bulgaria's Parliament on Friday voted, 181-0 with 9 abstentions, to pass on first reading revisions to the Public Debt Act moved by Progressive Bulgaria. Another bill on the same subject-matter, proposed by GERB-UDF, was rejected by a vote of 44-7 with 144 abstentions.  The draft legislation that was adopted introduces a legal framework regarding the designation, control and status of primary government securities dealers. The proposed amendments respond to the need to streamline the requirements for participation of licensed credit institutions and investment firms on the government securities market. In accordance with the Treaty establishing the European Stability Mechanism, all government securities issued after the date of the introduction of the euro in Bulgaria (January 1, 2026) with initial maturity exceeding one year are subject to identical Standardized Collective Action Clauses (SCAC) approved by the EU Economic and Financial Committee. SCAC make it possible to modify the agreed terms of issued government securities on a motion by the Minister of Finance based on a Council of Ministers decision. The bill further empowers the Minister of Finance to issue government securities for natural-person investors, who will be exempt from fees and commission charges for the initial acquisition of such securities (these costs will be borne by the Exchequer). Another proposal is to set up an electronic system for registration and servicing trade in government securities. The GERB-UDF bill that was voted down provided that the Minister of Finance would issue annually government securities intended for acquisition of natural-person investors under terms of equal non-discriminatory access. The Finance Ministry would implement an electronic platform for direct offering and buy-back of government securities without the participation of primary dealers. Optionally, government securities would be subscribed and paid for and bought back through Bulgarian Posts. The Debate: Kostantin Prodanov MP of Progressive Bulgaria: The Bulgarian banking system holds deposits approximating EUR 98 billion, of which some 60% belong to household. The average five-year yield of government securities exceeds 3%. If resident natural persons purchase government securities, as provided for by the bill, interest income on these securities will remain in Bulgaria and the capital will not leave the country. Tsoncho Ganev MP of Vazrazhdane: According to official figures released by the National Revenue Agency, 34% of Bulgarians paid taxes on a minimum wage by December 31, 2025. The lawmakers now tell them to go buy government securities so that the revenues would plug the budget gap. Stefan Belchev MP of Progressive Bulgaria: In 2020, personal deposits with commercial banks amounted to BGN 93 billion. The figure rose to EUR 98 billion in 2026, and there is nothing wrong if these funds flow into the country's economy.  Vladislav Panev MP of Democratic Bulgaria: The measure is good because it withdraws liquidity from consumption and the market, which eases pressure on prices. Martin Dimitrov MP of Democratic Bulgaria asked when the electronic platform that is envisaged for establishment will be ready. Prodanov answered that a time limit should better be set and promised to consult the Finance Ministry on the matter if a particular timeframe is proposed. Economy Liliya Yordanova Lyubomir Gigov https://www.bta.bg/en/news/economy/1145830-bulgarian-consumer-group-welcomes-new-eu-honey-origin-labelling-rules https://www.bta.bg/en/news/economy/1145830-bulgarian-consumer-group-welcomes-new-eu-honey-origin-labelling-rules Fri, 12 Jun 2026 10:01:00 +0300 Bulgaria's Association for Affordable and Quality Food welcomed new European Union rules requiring detailed origin labelling for honey blends, saying the measure would improve transparency and help consumers make informed purchasing decisions. The rules, which take effect on June 14 under Directive (EU) 2024/1438, require producers and traders to list all countries of origin of honey used in blends and their respective percentage shares on product labels. The change replaces the previous practice of using broad descriptions such as “blend of EU honeys” or “blend of EU and non-EU honeys,” the Association said in a press release Thursday. Association Chair Dr. Andrey Velchev said the measure was a major step forward for consumer rights and transparency, adding that honey had long been associated with concerns over misleading labelling and unclear origin information. The organization said the new requirements were particularly important for Bulgaria, which has faced problems with counterfeit bee products, misleading labelling and unfair competition affecting domestic producers. It also stressed the need for effective enforcement of the rules and urged consumers to support Bulgarian beekeepers and producers by paying close attention to the new labels.  Economy Metodi Yordanov https://www.bta.bg/en/news/balkans/1145779-balkan-approaches-to-reducing-prices-of-essential-products https://www.bta.bg/en/news/balkans/1145779-balkan-approaches-to-reducing-prices-of-essential-products Fri, 12 Jun 2026 09:16:27 +0300 Leading retail chains in Bulgaria have announced that they are reducing the prices of products from the small consumer basket as part of the national initiative Care Basket - a joint campaign of the government and the chains. The initiative provides for a commitment by the retail chains that decide to join to reduce the prices of products from the small consumer basket by 15% for a minimum of six months, it became clear during the presentation of the initiative at the beginning of the week in the building of the Council of Ministers. Prime Minister Rumen Radev identified the control of the growth in prices of basic food products as one of the most important topics and highlighted the voluntary nature of the initiative. However, industry organizations have warned of an existing risk that the burden of the Care Basket initiative for lower prices will be transferred to Bulgarian agricultural producers in the conditions of already seriously increased production costs. They point out that only a day after the initiative was announced, they received signals from Bulgarian producers - suppliers of these commercial operators, that they are being pressured to reduce their delivery prices by exactly 15%, and if they do not agree to this condition, they will stop supplying their products. In recent years, various mechanisms for controlling the prices of basic food and other products have been implemented in some countries in the Balkans, most often resorting to limiting unjustified price increases. Here are some examples of practices in the region: Bosnia and Herzegovina In Bosnia and Herzegovina, measures to set a price ceiling and reduce trade markups are regularly introduced, with the authorities in the two federal parts - the Federation of Bosnia and Herzegovina (a Muslim-Croat federation) and the Republika Srpska - responsible for these policies. The government of Republika Srpska last adopted such a measure on December 31, 2025, when the margin for the small consumer basket was limited, writes Bosnian newspaper Paragraf. The maximum trade markup is 6% for wholesale and 8% for retail. The basket includes 13 products, including bread, salt, oil and vegetable oil, flour, sugar, and household products. The same decision also sets a maximum margin for medicines of 8% for wholesale and 20% for retail. In the Muslim-Croatian Federation, a "locked price" measure has been in effect for 65 basic food and personal hygiene products sold at retail since September 2025, according to the federal government's website. The list includes products such as bread, oil, flour, milk and dairy products, sugar, rice, beans, and household and personal hygiene products. Greece A similar measure was introduced in Greece in 2022 under the name "Household Basket". It covered 51 categories of goods that supermarkets were to offer at a discount on at least one product from each category. These included rice, bread, flour, pasta, legumes, fresh and yogurt, pork and chicken, frozen fish and other products of daily consumption. Prices were published and compared via a special electronic platform. The program was terminated on November 1, 2025, after nearly three years of operation. In its place, the Greek government and retail chains have introduced a new scheme for price discounts on certain items. According to estimates, the measure could bring an average saving of around EUR 25 per month for a household. According to the authorities, the aim is to gradually replace the temporary anti-inflation measures with mechanisms for market surveillance, control of trade practices and limiting price pressures on consumer goods. In March 2026, the Greek government also announced limits on commercial profits for food and basic necessities, in order to limit speculative price increases. Profit limits have also been introduced for fuel sales. The measure will be in force until 30 June 2026, when an assessment will be made on whether to extend it. Romania Romania introduced a ceiling on the markup on basic food products in 2023 as a temporary measure in the context of accelerated inflation. This week, the country's parliament approved another extension of the regulation until December 31, 2026. The decision comes amid persistently high inflation in Romania, which reached 10.7% year-on-year in April, according to data from the National Institute of Statistics. The measure, which was due to expire at the end of June, applies to 17 categories of food products. These include: plain white bread (300-500 grams), 1 liter of fresh cow's milk with 1.5 % fat, white brined cow's milk cheese per kilogram, plain cow's yogurt with 3.5 % fat content (up to 200 grams), white wheat flour (up to 1 kilogram), corn flour (up to 1 kilogram), chicken eggs size M, sunflower oil (up to 2 litres), fresh chicken and pork, fresh vegetables per kilogram (tomatoes, onions, cucumbers, ripe beans, carrots, peppers, garlic), fresh fruits per kilogram (red and yellow apples, plums, pears, dessert grapes), potatoes per kilogram, butter, cream, white sugar (up to 1 kilogram), molasses. North Macedonia In February 2025, the government of North Macedonia limited the trade markup to 10% in wholesale and retail trade for 73 groups of food products. In addition to basic food products such as bread and bakery products, milk, meat and meat products, some canned goods, fruits, vegetables, rice, beans, etc., hygiene products such as detergents, as well as baby food, were added to the list of goods with a trade mark-up limit. The measure remained in force until the end of April 2025. In response to a journalist's question about possible economic measures in view of the inflation reported in the country, Prime Minister Hristijan Mickoski announced earlier this week that the government is monitoring "the situation closely and is considering measures for the benefit of citizens". He made it clear, however, that they will not affect alcohol, cigarettes and tobacco products, where, along with prices in the transport sector, the increase is the largest. Since the beginning of the year, the State Statistical Office of North Macedonia has reported an increase in inflation on an annual basis. For March, annual inflation was reported at 4.9%, for April 5.7%, and for May - 4.8%. With the exception of measures related to fuel prices, the country's government is still analyzing the situation and plans to introduce "targeted measures" after June. Among the most common price-related measures in the country, which the previous SDSM government implemented, were related to freezing the prices of basic food products or margins of 5 or 10% when selling them. Serbia Serbia does not have a permanent policy for regulating basic food products or fixed state prices of the consumer basket. Currently, no such measure is in force in the country, with the last measure to limit trade margins for certain goods expiring on March 1, 2026, according to information on the government website. At the end of August last year, a measure with a term of six months for special conditions for the sale of certain types of goods came into force. Serbia then introduced a profit margin limit of 20 % on a total of 3,000 products from 23 groups, such as milk and dairy products, eggs, soft drinks, coffee, tea, fresh and processed fruits and vegetables, bread, legumes, frozen foods, fresh and processed meat, fish, pastries, oatmeal, sugar, honey, flour, pasta, various types of oils, vinegar, rice, salt, spices, cleaning agents, kitchen paper and other kitchen products, as well as personal hygiene products, cosmetics, baby food and diapers. The regulation on the restriction of the trade margin was in force for six months with the possibility of an extension for another six months. Balkans BTA Balkans Desk Atanas Malakchiev https://www.bta.bg/en/news/economy/1145752-balkan-business-forum-to-open-on-friday https://www.bta.bg/en/news/economy/1145752-balkan-business-forum-to-open-on-friday Fri, 12 Jun 2026 07:52:57 +0300 The Balkan Business Forum will gather representatives of business and industry, investors and institutions in Bansko, Southwestern Bulgaria on Friday for the fifth consecutive year, the Bulgarian Investment Agency (BIA) announced on its official website. The event is organized by the Bulgarian-Turkish Chamber of Commerce and Industry in partnership with the Bulgarian-Romanian Chamber of Commerce, with the support of the Embassy of the Republic of Turkiye in Bulgaria, Foreign Economic Relations Board, the Executive Agency for the Promotion of Small and Medium-sized Enterprises and the BIA. The main topics of discussion include transport, logistics and industrial ecosystems; technologies and artificial intelligence as a driver of competitiveness; opportunities for Balkan economic cooperation; investments and industrial growth in Bulgaria. BIA states that among the highlights of the programme is the panel "Success Stories: Investment & Industrial Growth in the Balkans", dedicated to successful examples of investment, industrial growth and sustainable development in the region. Representatives of leading companies from Bulgaria and Turkiye will participate in the discussion, and the moderator will be the Deputy Minister of Economy, Investments and Industry, Krasimir Yakimov. Economy Atanas Malakchiev BTA correspondent Desislava Velkova https://www.bta.bg/en/news/economy/1145697-president-iotova-on-national-board-of-tourism-anniversary-tourists-come-to-disc https://www.bta.bg/en/news/economy/1145697-president-iotova-on-national-board-of-tourism-anniversary-tourists-come-to-disc Thu, 11 Jun 2026 22:40:07 +0300 President Iliana Iotova said that modern tourists no longer stay for a week or a month simply to rest, but seek to experience the atmosphere, culture, cuisine and way of life of the country they visit. She made the remarks during the gala evening "4 Seasons 4 You", part of events marking the 20th anniversary of the National Board of Tourism. The anniversary celebrations are held under the patronage of the President and under the slogan "The Four Keys to Sustainable Tourism - Culture, Nature, Food and Innovation". Iotova said that 20 years is a significant biography for modern times, praising the leadership of the National Board of Tourism. She described the organization as the most important body in the sector and among the most significant in the Bulgarian economy, noting that it has succeeded in creating a strategic framework and vision for tourism development in Bulgaria, one of the country's key economic priorities. Iotova highlighted Bulgaria's natural and cultural heritage, clean food and environment, as well as favourable conditions for wine production, which is gaining increasing recognition on global markets. She described Bulgaria as a treasure trove in this respect. The President also pointed to the potential for cultural tourism, noting the country's rich historical heritage and the many historical periods that have left their mark on Bulgarian lands. She said that traditional promotional tools such as billboards and printed catalogues are no longer sufficient in today's world. According to Iotova, a modern narrative is needed to attract visitors, while every person who visits Bulgaria today becomes an ambassador of the country and its brand. She noted that social media posts and short videos now carry more weight than traditional advertising and said that, if this is integrated into state policy with greater involvement of the non-governmental sector such as the National Board of Tourism, tourism promotion would become more decentralized and more effective. Iotova warned that the crises in Ukraine and the Middle East will continue and will inevitably affect tourism, including through rising aviation fuel prices and ticket costs, stressing the need for preparedness. Turning to Deputy Prime Minister Ivo Hristov, she said she believed the government is aware of these risks and may need to take special measures, including legislative changes, to protect the sector, which she described as one of the largest contributors to the national budget. The President also noted Bulgaria's successful organization of events such as the Giro d'Italia and said the country is expected to perform well as a host of Eurovision Song Contest. At the same time, she stressed that infrastructure remains a major problem, citing the lack of road access to the Villa Armira archaeological site in Haskovo Region. Iotova described human resources in tourism as a long-standing problem, calling for closer cooperation between employers and the education system. She said results are still not at the level everyone wants to achieve. At the same time, she noted that there is much talk about the riches of the Black Sea and the coastline, as well as the growing winter sports sector, including ski competitions and snowboarding, where Bulgaria already has strong athletes to showcase. She also urged the National Board of Tourism to continue supporting the authorities with ideas and expertise. Economy