EBRD President Thomas Mirow will visit Bulgaria and Romania in the week commencing March 16, the bank announced. The trip is expected to underscore the EBRD's commitment to both these countries, in the longer term, and especially during this period of
Eastern European economies will avoid debt defaults and "bounce back strongly" after the global financial crisis, said Thomas Mirow, president of the European Bank for Reconstruction and Development, cited by Bloomberg news agency.
The latest statistics regarding exports of goods from Bulgaria for 2008 have been released by the National Statistical Institute. They show that roughly 60% of Bulgaria's exports head to other EU countries.
New waves of migrants from countries like Bulgaria, Romania and Ukraine can be expected as a reaction should the West close markets and shut off capital flows, wrote the US based Newsweek.
Bulgaria is among the European countries which will eventually be hit by the global economic and financial crisis, experts from the consultancy RGE Monitoring stated. "The whole Eastern Europe region is a risky, and very dangerous place", Mary Stokes,
The euro has started taking over from the lev, as the main currency preferred by Bulgarian businesses and property owners, data shows. Bulgarian National Bank (BNB) figures released for January 2009 showed a huge rise in euro denominated loan portfolio
The World Bank warned the global economy will shrink this year for the first time since World War II, and sees trade at its lowest point in 80 years.
SSL International Plc, the manufacturer of Durex condoms, will boost its presence in eastern Europe just as the region's economic meltdown turns investors away, Chief Executive Officer Garry Watts announced, as cited by Bloomberg agency.
The Governor of the Bulgarian National Bank, Ivan Iskrov, said Thursday the currency peg practically made Bulgaria an informal member of the Eurozone. Iskrov took part in the Invest in Bulgaria 2009 Summit, which took place in Sheraton Hotel in Sofia.
Bulgaria's Economy Minister, Petar Dimitrov, said Thursday the country was going to avoid the import of foreign workers thanks to the effects of the global financial crisis.
The Director of the InvestBulgaria Agency, Stoyan Stalev, said Thursday that Bulgaria was not less attractive for foreign investors than the world's top investment destination, the East Coast of China.
Chinese PM Wen Jiabao has said the current year will be the most difficult the country has faced this century because of the global economic crisis, while announcing the latest program to stimulate the China's economy, the BBC reported Thursday.
Romanian businesses have started to move on mass to Bulgaria, in an attempt to avoid the worst affects of the current global financial crisis in their home country, Bulgarian daily newspaper Standart reported Thursday. The Bulgarian border city of Ruse
Bulgaria is already experiencing the positive effects of the global financial crisis, according to the Deputy Minister of Finance, Lyubomir Datsov. During a conference dedicated to Bulgaria's "Financial Sector in the Context of the Global Financial and
First-class investor certificates, the highest investor rank in Bulgaria, will be awarded to companies with a minimum investment volume of BGN 32 million, not BGN 70 million, the government decided on Wednesday.
The central banks of five Eastern European countries, including Bulgaria, have slammed as "simplified and misleading" reports that the region's banks were at risk.
The Bulgarian milk processing company "Serdika-90" shut down over the global financial crisis.
The Bulgarian National Bank has lowered Bulgaria's base interest rate by 0,43 percentage points bringing it to its lowest level since January 2007.
Emilia Maslarova, Bulgaria's Minister of Labor and Social Policy, has suggested that unemployment in the country will rise sharply over the next few months. Maslarova expects many more people to be looking for work in 2009, Darik Radio reported Saturday.
In May and no later then June, the Bulgarian Interior Ministry, the State Agency for National Security (DANS) and the National Revenue Agency (NRA) are going to begin check-ups of individuals whose wealth exceeds BGN 500,000, the EU Affairs Minister Gerga
The economies of Bulgaria and Romania are much more vulnerable to the effects of the global financial crisis compared to those of Poland, the Czech Republic, and Slovakia.
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