An EU directive recommends that the EU member states, including Bulgaria, implement as soon as possible debt-forgiving regulations and enforce personal bankruptcy procedure both for companies and individuals. Bulgaria is the only EU country which has not yet adopted a mechanism for personal bankruptcy and where consumers turn into life-long debtors. The EU directive aims to remove the so-called eternal debtors, reduce the volume of non-performing loans and give entrepreneurs a second chance through a preventive restructuring of their debts at an earlier stage before bankruptcy. Each year an average of 1.7 million people in the EU lose their jobs due to bankruptcies.
"Yes, Bulgaria" party (part of "Democratic Bulgaria") have defined the budget for next year as an "economic tsunami". MP Ivaylo Mirchev was firm that the pary will oppose it when the project comes up for discussion in parliament. "Yesterday we were..
Bulgarian President Rumen Radev has presented the national flag to the participants in the 34th Bulgarian Antarctic Expedition. At a ceremony in the Hall of Arms, the flag was accepted by the head and doyen of Bulgarian research in the White Continent,..
The euro will help, but it does not on its own guarantee higher standards of living, said Kristalina Georgieva, Managing Director of the International Monetary Fund, at the high-level conference in Sofia titled ''Bulgaria on the Doorstep of the..
North Macedonia has still not adopted the necessary constitutional amendments aimed at including Bulgarians and other non-majority communities in the..
Bulgaria relies on the efforts of honorary consuls from around the world to help establish new partnerships in the fields of economy, trade, innovation,..
On Tuesday , the lowest temperatures will be between 8 and 13°C; in Sofia - about 8°C. During the day, it will remain cloudy. There..
Overcast, rain
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