https://www.bta.bg/en/news/economy/rss Sun, 25 Oct 2026 00:51:05 +0300 en hourly 1 https://www.bta.bg/en/news/economy/1231847-8-kg-cabbage-wins-contest-at-petarch-festival https://www.bta.bg/en/news/economy/1231847-8-kg-cabbage-wins-contest-at-petarch-festival Sat, 24 Oct 2026 17:07:24 +0300 A cabbage weighing eight kilogrammes won the competition for the heaviest cabbage at a festival in the village of Petarch, about 30 km west of Sofia, on Saturday. For the first time, the Cabbage Festival combined its programme with a national culinary event called Flavours of Bulgaria. Local farmers took part in the festival, and contestants from the TV cooking show Hell's Kitchen presented their recipes. They were joined in the kitchen by students studying catering at a school in Kostinbrod. Kindergartens and schools from Kostinbrod Municipality had their own stalls. The idea for the festival dates back to 2007, when the Petarch mayor and several local women discussed organizing it, said the secretary of the community cultural centre, Silvia Milanova, approached by BTA. She said cabbage is one of the area's main agricultural products and plays an important role in local people's lives. Visitors had the opportunity to taste the village's traditional zelnik pie and other local cabbage dishes. There was a musical programme during the festival. Those attending included Petarch Mayor Borislav Borisov and Kostinbrod Mayor Trayko Mladenov. The event was organized by the Petarch mayor's office, the Nov Zhivot – 1919 Community Cultural Centre and Kostinbrod Municipality. The Flavours of Bulgaria Festival, which joined the 19th Cabbage Festival, promotes local producers, traditional recipes and regional culinary customs. The event is held with the support of the Ministry of Tourism and the Ministry of Culture. Economy Valentin Evstatiev Zhenya Ilcheva https://www.bta.bg/en/news/bulgaria/1231819-justice-minister-highlights-stakeholders-joint-efforts-to-combat-property-fraud https://www.bta.bg/en/news/bulgaria/1231819-justice-minister-highlights-stakeholders-joint-efforts-to-combat-property-fraud Sat, 24 Oct 2026 15:54:23 +0300 Justice Minister Nikolay Naydenov on Saturday highlighted the joint efforts of the Ministry of Justice, the Notary Chamber and all other stakeholders to amend a number of laws to prevent and combat property fraud, with a particular focus on protecting the interests of vulnerable groups of the population. He listed the Inheritance Act, the Civil Procedure Code, the Family Code, the Obligations and Contracts Act, the Property Act and the Civil Registration Act as laws which need revising, the Justice Ministry reported in a press release. Naydenov made the observation during a conference hosted by the Notary Chamber on the occasion of its professional holiday. International guests were among the attendees. The event opened with the establishment of the Institute for Professional Training and Development of the Notarial Profession, known as NOTA. The Minister said: "NOTA could also serve as a consultative platform for discussing legislative initiatives to support the Ministry of Justice in preparing compliance analyses and impact assessments of legislation related to e-notarization and the digitalization of proceedings." Naydenov added that the institute could turn theoretical training into a dynamic tool for combating property fraud. In his welcoming remarks, the Justice Minister noted that many young people are choosing this profession with the aim of practising it in the service of citizens and businesses. Bulgaria Valentin Evstatiev Borislava Bibinovska https://www.bta.bg/en/news/economy/1231699-grain-prices-slide-sharply-as-sugar-retreats-from-recent-highs-sofia-commodity- https://www.bta.bg/en/news/economy/1231699-grain-prices-slide-sharply-as-sugar-retreats-from-recent-highs-sofia-commodity- Sat, 24 Oct 2026 10:42:37 +0300 Grain prices fell sharply over the past week after the Kremlin agreed in principle to resume trilateral talks with Washington and Kyiv after November 10. Wheat futures on the Chicago Board of Trade dropped to three-month lows, according to an analysis by experts at the Sofia Commodity Exchange (SCE). Wheat prices fell sharply on both major exchanges. On Thursday, December wheat futures on the Chicago Board of Trade slipped to around USD 230 per tonne, their lowest level in three months. On Euronext, prices fell on Wednesday from around EUR 244 per tonne to EUR 232.75 (approximately USD 261 per tonne), marking a one-day loss of EUR 8.75. Funds reduced their net long positions on Euronext, ample global supplies weighed on the market, including a large Russian harvest and a 13% upward revision to Argentina’s wheat production forecast. However, the market remains vulnerable to a reversal. Odesa remains blockaded, Black Sea terminals have been brought almost to a standstill following drone attacks. SovEcon lowered its forecast for Ukrainian wheat exports to 14.4 million tonnes, the pace of winter crop sowing in Russia is the slowest since 2013. Buyers are returning to the market as prices fall. Egypt made its first purchases in months, Jordan announced a tender for 120,000 tonnes. Corn prices on the Chicago Board of Trade continued to decline under pressure from the harvest. December futures fell to around USD 181 per tonne, recording six consecutive sessions of losses through Tuesday. The US corn harvest is 44% complete, compared with a five-year average of 52%, although dry weather is helping to accelerate the pace. US corn exports since the start of the season are 34% below last year’s level. On Euronext, the November corn contract held at relatively high levels of around EUR 291–295 per tonne (approximately USD 327–331). On Tuesday, corn was the only grain in Europe to post a gain. On Wednesday, prices slipped to EUR 291.25 per tonne amid record imports. Brazilian corn shipments to Europe reached 1.65 million tonnes in October, compared with around 200,000 tonnes a year earlier, EU corn imports are 40% higher than last year. The price gap between European and US corn remains at around USD 145 per tonne. Sugar prices retreated from recent highs as traders took profits and funds refrained from making fresh purchases. Raw sugar in New York, represented by the March contract, fell to around USD 444 per tonne on Wednesday, its lowest level in two weeks. In London, white sugar futures for December delivery dropped from around USD 561 to USD 533.90 per tonne. Trading was driven mainly by small-scale speculators, the decline also triggered buy orders from processors. Trading on the Sofia Commodity Exchange In the Grain category of the Sofia Commodity Exchange, following deals earlier in the month for bread-making wheat at EUR 198 per tonne, the only remaining quotation was a bid for feed wheat at EUR 192 per tonne. In the Food commodities category, a wide range of canned goods continued to be offered, following transactions a week earlier involving pâté, stuffed peppers, bean stew and other products. Strawberry jam was being offered at EUR 3.25 per kg, while rosehip marmalade was priced at EUR 3.71 per kg. In the Industrial commodities category of the Sofia Commodity Exchange, transactions this week included propane-butane gas at EUR 510–530 per 1,000 litres, heating fuel at EUR 1,509.66–1,622.68 per 1,000 litres, and gas oil for industrial and municipal use at EUR 1,519.25–1,594.14 per 1,000 litres. Fuel transactions also included A95H unleaded petrol at EUR 1,341.67–1,410 per 1,000 litres, A100 petrol at EUR 1,550 per 1,000 litres, B6 diesel at EUR 1,541.67–1,600 per 1,000 litres, and E5 diesel at EUR 1,522.61 per 1,000 litres. Wood pellets traded at EUR 415–465 per tonne. In the metals segment, ferrous scrap was purchased at EUR 108.80 per tonne, while lead scrap traded at EUR 646 per tonne. Economy Risida Dimitrova Kamelia Tsvetanova https://www.bta.bg/en/news/bulgaria/1231562-justice-minister-us-chamber-of-commerce-discuss-rule-of-law-and-investment-clim https://www.bta.bg/en/news/bulgaria/1231562-justice-minister-us-chamber-of-commerce-discuss-rule-of-law-and-investment-clim Fri, 23 Oct 2026 20:47:21 +0300 Justice Minister Nikolay Naydenov discussed the rule of law and investment climate with American Chamber of Commerce in Bulgaria (AmCham) Chief Executive Officer Ivan Mihaylov, the Justice Ministry said on Friday. They also discussed anti-corruption efforts and their importance for Bulgaria's business environment and investment, as well as opportunities for cooperation on legislative changes. "A favourable business climate rests on the rule of law and its effective enforcement," Naydenov said. He pointed to the role of the new anti-corruption commission in improving the investment climate and strengthening trust in institutions. He also stressed the need for effective investigations into reports of corrupt practices, including in public procurement involving international companies, and encouraged AmCham representatives to alert the competent authorities if they had information suggesting irregularities. Deputy Justice Minister Irena Borisova and AmCham Communications and Institutional Relations Manager Daniel Kiryakov also attended. Participants discussed the possibility of drawing on the expertise of AmCham's Rule of Law and Legislative Reform Committee in ministry working groups preparing legislative amendments, including changes to the Commerce Act. Bulgaria Teodora Traykova Kaloyan Kirilov https://www.bta.bg/en/news/economy/1231320-bulgargaz-seeks-meeting-with-sofia-mayor-over-sofia-heating-utility-s-outstandin https://www.bta.bg/en/news/economy/1231320-bulgargaz-seeks-meeting-with-sofia-mayor-over-sofia-heating-utility-s-outstandin Fri, 23 Oct 2026 17:28:04 +0300 State gas supplier Bulgargaz has requested a meeting with Sofia Mayor Vassil Terziev next week to seek an urgent solution to the problems facing the Toplofikacia Sofia heating company, the supplier said in a press release on Friday. In connection with negotiations on a new natural gas supply contract for 2027, as well as the start of the heating season and the district heating company's low payment levels, Bulgargaz has requested comprehensive, up-to-date information on Toplofikacia Sofia's financial and liquidity position. This includes revenue from electricity sales through the Independent Bulgarian Energy Exchange, an updated payment schedule for its obligations to Bulgargaz through the end of the 2026/2027 price period, and a 13-week forecast of expected cash flows and sources of financing. Toplofikacia Sofia's outstanding debt to Bulgargaz exceeds EUR 900 million, and the company has repeatedly failed to meet the agreed repayment schedule, the gas supplier said. It added that the financial information was needed to assess the district heating company's ability to pay for current natural gas deliveries and repay its accumulated debt. The continued growth of the debt and insufficient payments make it necessary for Toplofikacia Sofia to undertake specific commitments backed by secured financing, Bulgargaz said. As of Friday, Bulgargaz had still not received the requested information, despite explicitly requiring it to be provided by October 22. The supplier said it considered it unacceptable that, with the heating season under way and outstanding debt, Toplofikacia Sofia had failed to provide even basic information about its financial position. This raised serious doubts about the company's readiness to take concrete action to address its worsening financial problems, the supplier added. On September 11, Energy Minister Iva Petrova said Toplofikacia Sofia's total liabilities to Bulgargaz and the Bulgarian Energy Holding (BEH) exceeded EUR 1.28 billion. She said the two companies were currently providing the financial resources needed to maintain gas supplies despite the district heating company's persistent failure to meet its obligations. To secure natural gas deliveries, Bulgargaz is seeking additional liquidity support from BEH and commercial banks through credit lines. While this has allowed supplies to continue, it does not constitute a sustainable model, Petrova said. Economy Kristina Ivanova Kameliya Tsvetanova https://www.bta.bg/en/news/economy/1231077-sofia-airport-starts-terminal-3-preparatory-works-completion-set-for-march-2027 https://www.bta.bg/en/news/economy/1231077-sofia-airport-starts-terminal-3-preparatory-works-completion-set-for-march-2027 Fri, 23 Oct 2026 14:38:00 +0300 Sofia Airport operator SOF Connect launched preliminary construction works for Terminal 3 at a ceremony here on Friday. The ceremony was attended by SOF Connect CEO Jesus Caballero, Glavbolgarstroy Holding CEO Emil Angelov, Sofia Mayor Vassil Terziev, as well as Bulgarian snowboarders Tervel Zamfirov and his sister Malena Zamfirova, the marketing faces of the Terminal 3 project. With an investment of more than EUR 7 million, the work includes a new transport hub, redevelopment of the area in front of Terminal 2, and relocation of underground infrastructure. The new transport hub will provide 14 bus bays, while improvements to Terminal 2’s forecourt will include an accessible ramp and a relocated taxi rank to improve airport access and traffic flow during construction. Caballero emphasized that Terminal 3 would increase airport capacity, support Bulgaria’s aviation industry and help attract new airlines and routes, adding that these works are expected to be completed by the end of March 2027. Terziev described Terminal 3 as "more than just an airport expansion", calling it a symbol of the opportunity for Bulgarians who have left the country to return, and for foreign visitors to discover the beauty and opportunities of Sofia and Bulgaria. He thanked SOF Connect for the successful partnership and expressed hope that it would continue. Economy Zhenya Ilcheva Filip Pavlov https://www.bta.bg/en/news/economy/1231130-kyustendil-court-upholds-eur-286-323-environmental-fines-against-bobov-dol-tpp https://www.bta.bg/en/news/economy/1231130-kyustendil-court-upholds-eur-286-323-environmental-fines-against-bobov-dol-tpp Fri, 23 Oct 2026 14:37:38 +0300 Two penalty decrees issued by the Director of the Regional Inspectorate of Environment and Water (RIEW) – Sofia against Bobov Dol Thermal Power Plant (TPP) have been upheld by final rulings of the Kyustendil Administrative Court dated October 19 and 20, 2026. The company has been fined a total of EUR 286,323, the RIEW – Sofia said on Friday. The violations concern the failure to take the necessary measures to limit fugitive emissions into the atmosphere and emissions resulting from the plant's operations. These constitute breaches of the conditions set out in the plant operator's integrated permit. Between 2020 and 2026, RIEW – Sofia conducted a total of 339 inspections at Bobov Dol TPP. As a result of these inspections, 132 reports of administrative violations were issued. During the same period, the Director of RIEW – Sofia issued a total of 119 penalty decrees, imposing fines on the company amounting to EUR 6,699,818. The inspectorate recalled that the courts have so far upheld 73 of the penalty decrees issued against the company, involving fines of more than EUR 2 million. In July, the Dupnitsa Regional Court upheld two separate sanctions of EUR 154,000 and EUR 102,258.38 against Bobov Dol TPP for breaching its integrated permit. In the first case, inspectors found that waste gases had bypassed cleaning facilities and been released uncontrolled into the atmosphere, while sulphur dioxide levels above regulatory limits were recorded in nearby Golemo Selo. The court rejected the company's appeal, citing the seriousness of the violation and the need to protect public health and the environment. In May, the Environment and Water Ministry ordered the plant's partial shutdown over repeated permit violations, including unauthorized emissions. The measure was to remain in force until the operator restored compliance with environmental requirements. The court rulings confirm the plant's liability for breaching the conditions of its integrated permit and failing to take sufficient measures to limit fugitive emissions, the environmental inspectorate added. Economy Kristina Ivanova Aleksandar Tasev https://www.bta.bg/en/news/bulgaria/1231153-tripartite-council-backs-proposed-tax-law-changes-for-2027 https://www.bta.bg/en/news/bulgaria/1231153-tripartite-council-backs-proposed-tax-law-changes-for-2027 Fri, 23 Oct 2026 14:25:25 +0300 Bulgaria’s National Council for Tripartite Cooperation (NCTC) supported the proposed amendments to the country’s tax laws at its meeting on Friday. Based on the positions expressed and written submissions from each organization, the council supported draft amendments to all eight laws, with editorial comments concerning the Gambling Act and the Corporate Income Tax Act provisions on excess profits, Finance Minister Galab Donev said after presenting the positions of trade unions and employer organizations on the individual proposals. Deputy Finance Minister Lyudmila Petkova, who presented the proposed changes, argued the package of tax measures for 2027 was aimed at ensuring sustainable growth in budget revenues, including by curbing the shadow economy, combating tax fraud and evasion, and improving revenue collection. She noted that, alongside measures to strengthen public finances, the package included several incentives for businesses and households, as well as steps to reduce the administrative burden. Among the new proposals, Petkova highlighted a phased increase in the VAT registration threshold. Instead of the initially proposed increase to EUR 75,000, the threshold would rise to EUR 60,000 from January 1, 2027, to EUR 70,000 from January 1, 2028, and to EUR 75,000 from January 1, 2029. She said the European Commission and the International Monetary Fund had recommended a gradual increase rather than such a sharp adjustment. Regarding the proposed excise duty on cars with engine power exceeding 250 kilowatts, Petkova explained that, for hybrid vehicles, only the output of the internal combustion engine would be taken into account. Specialized vehicles, ambulances, fire engines, vehicles operating under special traffic rules and electric cars would be exempt. Petkova also said that, following information received during the public consultation about the abuse of nicotine content in electronic cigarettes, the Excise Duties and Tax Warehouses Act would likely include provisions to tighten controls and prevent products that do not meet legal requirements from being sold, alongside stricter customs checks. Positions of trade unions and employers Plamen Dimitrov, president of the Confederation of Independent Trade Unions in Bulgaria (CITUB), said the union broadly supported the package but had reservations about taxing food vouchers and the proposed property tax valuations. He considered the excess profits tax likely to have the most significant fiscal impact and called for reconsideration of the proposals affecting people who own only one home. Atanas Katsarchev, chief economist of the Podkrepa Labour Confederation, called for a long-term tax policy based on fairness, neutrality and reducing inequality. He supported tax relief for families with children but said low-income households might be unable to benefit from certain child-development measures. He also proposed progressive taxation to offset the low minimum wage and suggested replacing the planned 7% tax on food vouchers with a social security contribution. Employer organizations raised concerns about the proposed excess profits tax, particularly its calculation method and a new control indicator that they said could disadvantage some companies and encourage price increases. The Bulgarian Industrial Capital Association also objected to the treatment of newly established companies and called for a more transparent approach to penalties, arguing that converting fines from leva into euros could amount to an increase of about 95.58%. The Bulgarian Industrial Association supported the proposed tax relief for children and child-related health, education and sports expenses, as well as the phased increase in the VAT registration threshold. It also backed raising the monthly food voucher limit to EUR 200, while expressing reservations about taxing amounts above EUR 102.26 and about the proposed excess profits tax mechanism. The Bulgarian Chamber of Commerce and Industry supported tax relief for children and food vouchers, as well as the updating of property tax valuations. It called for an end to repeated delays in implementing the “polluter pays” principle for household waste fees, while questioning the proposed increases in fines. The Confederation of Employers and Industrialists in Bulgaria expressed concerns about the proposed Gambling Act amendments, particularly provisions affecting land-based gambling operators. It warned that requirements beyond operators’ control could lead to legal disputes and future costs for the state, while saying that greater precision was needed in the rules imposed on businesses. Bulgaria Konstantin Karagyozov https://www.bta.bg/en/news/economy/1230988-employers-back-bulgaria-s-proposed-eur-660-minimum-wage-for-2027-unions-oppose https://www.bta.bg/en/news/economy/1230988-employers-back-bulgaria-s-proposed-eur-660-minimum-wage-for-2027-unions-oppose Fri, 23 Oct 2026 12:16:00 +0300 On Friday, Bulgaria’s National Council for Tripartite Cooperation failed to reach consensus on a draft Council of Ministers decree setting the minimum monthly wage for 2027. Employer organizations supported the proposed increase to EUR 660, while trade unions opposed it. The proposed minimum wage for 2027 represents an increase of EUR 39.80 compared with this year’s level of EUR 620.20, Minister of Labour and Social Policy Natalia Efremova said. She explained that the proposal took into account the state budget’s capacity while recognizing the minimum wage’s social role. The 6.4% increase in the minimum wage compensates for and exceeds annual inflation of 5.7%, Efremova also said. Ivelin Zhelyazkov of the Bulgarian Industrial Capital Association (BICA) said the proposal was in line with the law. The mechanism had been established after three years of difficult negotiations, during which each side had sought additional concessions, he said, highlighting the fragile compromise that had been reached. Since 2022, the minimum wage has increased by 40%, while the latest rise is within the normal range and provides the necessary predictability, Zhelyazkov said. Maria Mincheva of the Bulgarian Industrial Association (BIA) said her organization supported the proposed minimum wage for 2027. She commended the government for what she described as the courage to amend the Labour Code and the relevant regulation governing the mechanism for determining the minimum wage. Tsvetan Simeonov of the Bulgarian Chamber of Commerce and Industry (BCCI) also welcomed the fact that such a mechanism had finally been introduced. While there could be disagreements over the minimum wage level, the mechanism should be allowed to operate for some time before further steps were considered to improve it fully, he said. Boyan Mitrakiev of the Confederation of Employers and Industrialists in Bulgaria (CEIBG) voiced support for the proposed new minimum wage. Ioannis Parteniotis, Vice President of the Podkrepa Confederation of Labour, said that one in six workers in Bulgaria was classified as working poor. The proposed minimum wage of EUR 660 would in no way guarantee a decent standard of living, he said. After social security contributions and personal income tax were deducted, the net amount would be EUR 512.16 for a full-time worker, Parteniotis said. He added that Bulgaria had the lowest minimum wage in the European Union, including compared with neighbouring countries such as Romania, Serbia, North Macedonia, Greece and Turkiye. In Europe, wages were lower only in Albania, Moldova and Ukraine, he said. Parteniotis also recalled that the Podkrepa trade union confederation had opposed the new method of determining the minimum wage. Asya Goneva announced that the Confederation of Independent Trade Unions in Bulgaria (CITUB) did not support the proposed minimum wage for 2027. She said the previous mechanism should have remained in force for 2027. The ratio between the minimum wage and the maximum insurable income continued to decline, Goneva added. Economy Konstantin Karagyozov Borislava Bibinovska https://www.bta.bg/en/news/economy/1230945-expenditures-remained-ahead-of-revenues-in-general-government-sector-last-year https://www.bta.bg/en/news/economy/1230945-expenditures-remained-ahead-of-revenues-in-general-government-sector-last-year Fri, 23 Oct 2026 12:32:50 +0300 Expenditures remained ahead of revenues in the general government sector last year, show data released by the National Statistical Institute (NSI) on Friday. According to updated data for 2025, the reported revenues totalled EUR 44,347 billion and expenditures amounting to EUR 49,011 billion. In 2024, the figures stood at EUR 41,059 billion in expenditures and EUR 37,868 billion in revenues. In the first quarter of 2026, revenues in the general government sector totalled 9,560 billion, while expenditures were EUR 11,861 billion. In the second quarter of 2026, there were EUR 11,643 billion in revenues and EUR 12,588 billion in expenditures, the NSI reported. Economy Dimitrina Solakova https://www.bta.bg/en/news/economy/1230889-sofia-med-plans-eur-19-5-mln-copper-recycling-plant-with-eu-innovation-fund-supp https://www.bta.bg/en/news/economy/1230889-sofia-med-plans-eur-19-5-mln-copper-recycling-plant-with-eu-innovation-fund-supp Fri, 23 Oct 2026 11:13:00 +0300 Bulgarian metallurgical company Sofia Med plans to build and operate an innovative industrial copper recycling plant in Sofia under its SVAROG project, the company said on Friday. The project has successfully passed the evaluation stage of the European Union Innovation Fund's 2025 Net-Zero Technologies call and has been invited to proceed to grant preparation. The total planned investment amounts to approximately EUR 19.49 million, including a proposed EUR 6.20 million grant from the Innovation Fund. The next-generation copper recycling facility will be built at Sofia Med's existing site in the Bulgarian capital. The SVAROG project aims to process currently underutilized, low-grade and mixed copper scrap into copper with a purity of more than 99.9%. According to the company, the facility will recover valuable materials that are currently used mainly in lower-value applications or exported outside Europe. The plant will employ advanced sensor-based cold sorting technologies and artificial intelligence to optimize the combustion-based refining process. Designed to process approximately 30,000 tonnes of complex copper scrap annually, the facility will supply recycled copper directly to Sofia Med's existing foundry, replacing a significant proportion of the primary copper cathodes currently used in production. The company said replacing primary copper cathodes with recycled copper was central to the project's expected environmental benefits, as primary copper production generates substantially higher greenhouse gas emissions than the processing and refining of secondary copper scrap. According to project estimates, SVAROG is expected to avoid approximately 1.16 million tonnes of carbon dioxide emissions over its first ten years of operation. The investment is expected to increase Bulgaria's industrial recycling capacity and help retain valuable copper resources in Europe by promoting their reuse as raw materials in European manufacturing, the company said. Sofia Med operates on global markets, supplying rolled and extruded products made from copper and copper alloys. Economy Yoanna Vodenova https://www.bta.bg/en/news/economy/1230789-national-council-for-tripartite-cooperation-to-discuss-tax-changes-minimum-wage https://www.bta.bg/en/news/economy/1230789-national-council-for-tripartite-cooperation-to-discuss-tax-changes-minimum-wage Fri, 23 Oct 2026 08:33:55 +0300 The National Council for Tripartite Cooperation (NCTC) will meet at 9:30 a.m. on Friday  to discuss changes to tax legislation and the proposal to set the national minimum wage effective January 1, 2027, the Government Information Service reported.  Also among the nine items on the meeting's agenda are amendments to the Accounting Act, the Independent Financial Audit Act, and the Gambling Act. On October 15, the Government published for public discussion a draft decree for a minimum wage of EUR 660. The package of tax and revenue measures for 2027 was presented in late September by Deputy Minister of Finance Lyudmila Petkova. According to her, the aim of the proposals is to ensure sustainable growth in budget revenues, including a reduction in the share of the informal economy by improving revenue collection. Economy Dimitrina Solakova https://www.bta.bg/en/news/economy/1230662-pm-radev-discusses-digital-infrastructure-projects-in-bulgaria-with-google https://www.bta.bg/en/news/economy/1230662-pm-radev-discusses-digital-infrastructure-projects-in-bulgaria-with-google Thu, 22 Oct 2026 20:42:59 +0300 Meeting with Google representatives, Prime Minister Rumen Radev said the Bulgarian government is highly ambitious in pursuing digital transformation and has much to offer investors, the government information service said on Thursday. The meeting focused on opportunities to expand cooperation in high technology and attract investment in Bulgaria's digital infrastructure. Deputy Prime Minister and Economy, Investment and Industry Minister Alexander Poulev and Innovation and Digital Transformation Minister Ivan Vasilev also attended. The discussions covered digitalization, economic competitiveness, cybersecurity and opportunities for joint projects in the space industry. Google is providing a new USD 1 million donation to the Institute for Computer Science, Artificial Intelligence and Technology (INSAIT) at Sofia University, it emerged at the meeting. The new support will enable the institute to expand its research and work on developing next-generation AI models. The Prime Minister thanked Google for its support for INSAIT and stressed the importance of strategic partnerships with leading technology companies for the development of high technology and retaining talent in Bulgaria. This country has excellent human potential, which is its greatest asset, he said, adding that investments and partnerships of this kind help retain many young and talented people in the country. Among INSAIT's priority areas to benefit from the new donation are AI for science and mathematics, robotics, Earth observation and technological sovereignty. The donation includes direct funding and Google Cloud credits, providing access to high-performance computing infrastructure, the government information service said. Google Cloud Vice President Marianne Janik said the company highly valued its ongoing cooperation with the Bulgarian government and was committed to supporting Bulgaria in building a competitive and secure digital future by deepening its partnership with INSAIT. Google has supported INSAIT since its establishment in 2022. With the new donation, the company's total support for the institute exceeds USD 7 million, an unprecedented amount for Bulgaria and the region, the government information service said. Earlier in the day, Radev met with representatives of the American-Central European Business Association (ACEBA). The meeting was also attended by Innovation and Digital Transformation Minister Ivan Vasilev and Health Minister Katya Ivkova. A strong economy is the foundation of strategic cooperation between Bulgaria and the United States, while US investment is a priority because it brings advanced technologies and successful models for developing a modern economy, Radev said as quoted by the government information service. Economy Diana Dukovska Teodora Tsaneva https://www.bta.bg/en/news/economy/1230666-digital-transformation-ministry-signs-memorandum-of-understanding-with-palo-alto https://www.bta.bg/en/news/economy/1230666-digital-transformation-ministry-signs-memorandum-of-understanding-with-palo-alto Thu, 22 Oct 2026 20:12:00 +0300 The Innovation and Digital Transformation Ministry and cybersecurity company Palo Alto Networks signed a memorandum of understanding on Thursday, the ministry said on its website. The memorandum builds on the existing partnership between the ministry and the company in developing the National Cybersecurity System, which aims to provide comprehensive protection for the information infrastructure of the state administration. The National Cybersecurity System uses Palo Alto Networks technology to detect and analyse cyber threats, detect suspicious activity and anomalies, manage vulnerabilities and potential attack vectors, and centrally manage network security. These capabilities form part of a defence-in-depth approach designed to detect threats early, reduce risks and strengthen the resilience of government information systems, the ministry said. An important element of the cooperation to date has been building the expertise of Bulgarian cybersecurity professionals. The National Computer Security Incident Response Team (CSIRT) has undergone specialized training in detecting and investigating cyber incidents, analysing complex cyber threats, managing security operations, and effectively using and integrating modern cybersecurity technologies. The company also provides expert support in analysing actual cyber incidents, helping national specialists detect threats and investigate suspicious activity. The memorandum provides a basis for expanding cooperation in the exchange of expertise, sharing information on current cyber threats, developing professional skills and applying innovative cybersecurity approaches, including the use of AI and automated technologies to detect and analyse threats. US Charge d'Affaires in Bulgaria H. Martin McDowell also attended the signing ceremony. Economy Diana Dukovska Delyan Petrishki https://www.bta.bg/en/news/economy/1230605-automotive-industry-among-most-important-sectors-in-bulgaria-deputy-economy-min https://www.bta.bg/en/news/economy/1230605-automotive-industry-among-most-important-sectors-in-bulgaria-deputy-economy-min Thu, 22 Oct 2026 19:02:11 +0300 The automotive industry is one of the most important sectors in Bulgaria, Deputy Minister of Economy, Investment, and Industry Levent Memish said at the opening of the Asia Motor Show 2026 in Sofia on Thursday. The event runs through October 26 at Inter Expo Centre and is dedicated to the Asian automotive industry. It showcases over 20 leading automotive brands and more than 150 cars and motorcycles from China, Japan, and South Korea, including electric and hybrid models.  According to Memish, the event will not only be an exhibition but also an opportunity for new partnerships and investments. He noted that Bulgaria is an important part of the European automotive industry. In his words, the country has skilled professionals, and its geographic location is also significant. "We want Bulgaria to be a reliable hub for innovation and growth, the country is ready to support strategic investors," Memish said. Visitors to the exhibition will see exclusive Bulgarian and European debuts of various models and learn about new technologies and solutions in the automotive industry, as well as test drive more than 50 vehicles in a specially designated test drive area. On site visitors will see BAIC, BAW, BENDA, BYD, DFSK, DONGFENG, FORTHING, FOTON, GWM, HONGQI, ISUZU D-MAX, JAC, JAECOO, KGM, KIA, LEAPMOTOR, MAZDA, MG, M-HERO, OMODA, SUBARU, VOYAH, XPENG. Economy Risida Dimitrova Kamelia Tsvetanova https://www.bta.bg/en/news/economy/1230497-two-vietnamese-provinces-seek-stronger-economic-ties-with-bulgaria https://www.bta.bg/en/news/economy/1230497-two-vietnamese-provinces-seek-stronger-economic-ties-with-bulgaria Thu, 22 Oct 2026 18:05:34 +0300 Participants in a Bulgaria-Vietnam business forum in Sofia on Thursday expressed their desire to deepen business ties and encourage investment between the two countries. The event, which included bilateral business meetings, was initiated by the Embassy of Vietnam in Bulgaria and supported by the Vietnamese Foreign Ministry. It was hosted by the Bulgarian Chamber of Commerce and Industry (BCCI). The attending Vietnamese businesspeople were from the provinces of Thanh Hoa and Tay Ninh, representing companies in real estate, infrastructure, industrial parks, agriculture, tourism and travel services, the textile and garment industries, manufacturing and other sectors. The delegation was led by Mai Xuan Liem, Standing Vice Chair of the People's Committee of Thanh Hoa Province, and Huynh Van Son, Vice Chair of the People's Committee of Tay Ninh Province. They briefed Bulgarian business executives on the economic potential and development goals of the two provinces and highlighted areas of mutual economic interest. Opening the forum, BCCI President Tsvetan Simeonov said: "Vietnam's pace of development provides another incentive for Bulgaria to seek partners more actively." Simeonov noted that Vietnam has signed a Free Trade Agreement with the European Union. He said Vietnamese businesses are already present in Bulgaria, noting that the BCCI register lists 20 companies with Vietnamese participation and 45 representative offices of Vietnamese companies in Bulgaria. He urged Bulgarian businesses to take a more active approach to relations with the Southeast Asian country. Vietnam's Ambassador to Bulgaria, Nguyen Thi Minh Nguyet, highlighted her country's desire to promote bilateral economic cooperation and facilitate access for Bulgarian goods, services and technologies to the Vietnamese market. She outlined some of the main advantages of the two provinces represented at the forum, stemming from their geographical locations and existing business infrastructure and activities. The Ambassador said that Tay Ninh Province is in the south of Vietnam. It connects the southeast with the Mekong Delta and provides opportunities for trade with Cambodia. Its developed network of industrial zones provides an important foundation for expanding manufacturing activity and attracting investment. The other province, Thanh Hoa, is in northern Vietnam, along a major north-south transport corridor. One of its main advantages is the Nghi Son Economic Zone, which has a deep-water seaport and offers favourable conditions for the development of industry, foreign trade and logistics. Priority sectors for attracting investment include mechanical engineering, electricity generation, electronic equipment manufacturing and supporting industries, Ambassador Minh Nguyet said. Vice Chair Liem said the development priorities for his province, Thanh Hoa, in 2026-2030 include processing and manufacturing, large-scale agriculture with high added value, science, technology and innovation, energy, environmental protection and logistics. He added that local companies need technological upgrades to develop further and that the province's logistics system also requires modernization. Liem identified education as another area in which the province could deepen cooperation with Bulgaria, which is seen as a bridge between local products and the European market. For his part, Vice Chair Son suggested that Bulgaria could cooperate with Tay Ninh Province in information technology, digital transformation, high-tech industry, pharmaceuticals, high-tech agriculture, logistics, e-commerce and tourism. Under the province's development plan for 2021-2030, with a vision to 2050, Tay Ninh intends to develop 133 industrial zones and 108 industrial clusters, compared with 35 zones and 24 clusters currently established. Industry currently accounts for 52% of the province's gross regional product, followed by services and trade at 31% and agriculture at 17%. The province has nearly 2,000 registered foreign direct investment projects completed by investors from 40 countries, with total invested capital exceeding USD 27 billion. Economy Valentin Evstatiev Delyan Petrishki https://www.bta.bg/en/news/economy/1230484-us-investment-is-priority-for-bulgaria-s-strategic-economic-cooperation-pm-rade https://www.bta.bg/en/news/economy/1230484-us-investment-is-priority-for-bulgaria-s-strategic-economic-cooperation-pm-rade Thu, 22 Oct 2026 16:59:47 +0300 A strong economy is the foundation of strategic cooperation between Bulgaria and the United States, while US investment is a priority because it brings advanced technologies and successful models for developing a modern economy, Bulgarian Prime Minister Rumen Radev said at a meeting with the American-Central European Business Association (ACEBA) on Thursday, the Council of Ministers said in a press release. The meeting was also attended by Minister of Innovation and Digital Transformation Ivan Vasilev and Minister of Health Katya Ivkova. Radev stressed that a strong economy was essential for security and stability, making economic relations one of the pillars of Bulgaria’s strategic cooperation with the United States. He described growing bilateral trade and existing examples of partnership between the two countries as a foundation for further expanding cooperation. The PM highlighted Bulgaria’s substantial experience in advanced technologies and its successful initiatives with international partners. He cited the Institute for Computer Science, Artificial Intelligence and Technology (INSAIT) and EnduroSat, noting that the Bulgarian company had manufactured and launched into orbit three times as many small satellites in recent years as all European countries combined. According to Radev, Bulgaria had already become a European leader in the deployment of battery energy storage systems. He recalled that construction had officially begun two days earlier on an energy storage park in Tvarditsa that would use Tesla technology. Radev added that construction was also due to begin on Bulgaria’s first artificial intelligence gigafactory, which was expected to rank among the largest in Europe. At the meeting, Radev also highlighted cooperation with the United States in the fields of energy and security. In healthcare, he identified screening and prevention as areas offering opportunities for closer cooperation through new technologies. He explained that the objective was to prevent diseases before patients required hospitalisation or additional medical care. After eight parliamentary elections in the space of five years, Bulgaria now had a government backed by a stable parliamentary majority, Radev said. He expressed hope that this would enable progress in attracting and implementing strategic investments from the United States. In early October, the Bulgarian government approved the country’s participation in a US initiative for cooperation in artificial intelligence. Key areas include the development of AI infrastructure, access to critical minerals and energy resources, computing capacity and semiconductor manufacturing. Economy Konstantin Karagyozov https://www.bta.bg/en/news/economy/1230391-road-infrastructure-agency-reform-to-proceed-in-two-stages-420-employees-to-be- https://www.bta.bg/en/news/economy/1230391-road-infrastructure-agency-reform-to-proceed-in-two-stages-420-employees-to-be- Thu, 22 Oct 2026 16:32:17 +0300 The reform of the Road Infrastructure Agency (RIA) will be carried out in two stages, Podkrepa Confederation of Labour Vice President Ioannis Parteniotis told journalists, following a meeting with the RIA leadership, which was also attended by National Toll Administration (NTA) Director Oleg Asenov. The first stage of the reform will last four months. During this period, a new organizational regulation for the RIA will be adopted, which will govern the restructuring and the reallocation of some of the National Toll Administration's functions. 505 staff positions within the NTA will be cut. Some of these individuals will be offered the opportunity to continue their employment in other state institutions. To this end, a collaborative process is set to begin on November 11, involving the trade unions, the leadership of the National Toll Administration, and the human resources departments of the Interior Ministry and the Customs Agency, with the aim of establishing criteria for their potential appointment elsewhere. Parteniotis explained that there are differences in the requirements and operational frameworks of the two administrations. Personnel within the control bodies of the Interior Ministry must meet the requirements of the Ministry of the Interior Act, whereas employees of the Customs Agency fall under the provisions of the Customs Act and, for the most part, the Civil Servants Act. Regarding the regional road administrations, the contracts of approximately 85 to 87 individuals are expected to be terminated. While the exact figures will vary across the different regional offices, engineering and technical specialists will not be affected, Parteniotis clarified. The staff reductions will primarily impact administrative personnel, including employees currently responsible for public procurement. This function will be consolidated within the RIA’s central headquarters. According to Parteniotis, staff reductions within the regional road administrations must be completed by the end of 2026, as no funding has been allocated for these positions in the 2027 budget. He described the outcome of the meeting as a mix of good and bad news. "The good news is that there is an end to this madness; after all, a 'terrible end' is better than 'endless terror'," Parteniotis remarked. Responding to a question regarding the future of the National Toll Administration, Asenov explained that a new executive agency under the Transport Ministry will be established to take over the toll collection functions currently handled by the National Toll Administration. According to him, the new structure is provided for in a Council of Ministers decision related to the road safety plan. He explained that the new agency will continue to perform the functions of a revenue-collecting agency and will also be responsible for processing data related to risk profiles and providing this information to a unified control authority. Asenov clarified that a portion of the National Toll Administration’s current staff will be transferred to the new agency, primarily employees engaged in collecting road tolls, maintaining and administering the electronic toll collection system, and maintenance of the roadside equipment. The reform is planned to take place in two stages, allowing for a transition period during which the enforcement functions of the National Toll Administration are gradually transferred to the unified control authority. This will ensure operational continuity while the new entity and its enforcement mechanisms become fully functional. Economy Zhenya Ilcheva Atanas Malakchiev https://www.bta.bg/en/news/economy/1230305-companies-from-bulgaria-romania-turkiye-italy-china-present-medical-dental- https://www.bta.bg/en/news/economy/1230305-companies-from-bulgaria-romania-turkiye-italy-china-present-medical-dental- Thu, 22 Oct 2026 15:34:58 +0300 Companies from Bulgaria, Romania, Turkiye, Italy and China are presenting medical and dental equipment, diagnostic solutions, instruments, materials, consumables and specialised products at the 30th edition of the Medicus, Dento, Galenia International Exhibition at the International Fair Plovdiv which opened on Thursday and will run until October 21 at Hall 2.  Among the highlights are unmanned aerial and ground systems for medical services, logistics and rescue operations, developed by a Plovdiv-based company. Legislative changes are needed for unmanned vehicles to enter actual service, company representative Momchil Georgiev said. Heavy-lift drones, designed to carry loads of 30 to 40 kg, are intended to transport medicines, medical equipment and supplies to hard-to-reach areas. Lighter drones, with a payload capacity of two to five kilograms, can deliver medicines, vaccines and biological samples quickly between settlements, laboratories and medical centres. The systems are due to undergo experimental testing in disaster situations. The exhibition demonstrates how technological advances are expanding the possibilities for diagnosis, treatment and rehabilitation and creating new prospects for specialists, International Fair Plovdiv Chief Executive Ivan Sokolov said at the opening. He noted that the fair continued to develop the exhibition as a specialised platform connecting businesses with the professional community and helping bring innovations into practice. The National Association of Children with Diabetes and the Medical College in Plovdiv are organising free blood glucose screening during the exhibition. On all three days, from 9 a.m. to 1 p.m., representatives of the two institutions will measure blood glucose levels for visitors and exhibitors who wish to take part. The initiative aims to encourage preventive care and raise awareness of the importance of early detection of elevated blood glucose levels. Economy Momchil Rusev Irina Shopova https://www.bta.bg/en/news/economy/1230183-construction-begins-on-xopark-stara-zagora-retail-park https://www.bta.bg/en/news/economy/1230183-construction-begins-on-xopark-stara-zagora-retail-park Thu, 22 Oct 2026 14:10:55 +0300 Construction has begun on the XOPark Stara Zagora retail park, an investment of nearly EUR 20 million, Trinity Capital Executive Director Stoyan Kolev said on Thursday. The project will feature around 20,000 square metres of retail space, more than 26 stores and 560 parking spaces, and is expected to create 150-200 jobs, Kolev said. Opening is planned for 2027. The complex will host more than 25 brands, including Stara Zagora's first Fantastico supermarket, which will offer over 20,000 products and additional services, he added. The development will also include a community space named Agora for events and local producers. Stara Zagora Mayor Zhivko Todorov welcomed the investment, pointing to its potential to boost employment and the local economy. XOPark Stara Zagora is developer Trinity Capital's seventh retail park project. The company aims to expand its network to around 10 locations by the end of 2028, with projects planned in Sandanski, Gotse Delchev and Razgrad. Economy BTA Correspondent Emil Dimov Filip Pavlov