The European Bank for Reconstruction and Development, EBRD, has expressed concern over the proposed amendments to the law of obligations and contracts.
The amendments, which have already been approved by parliament at first reading, impose a 10-year absolute limitation period on all loans receivable and payable by natural persons. The amendments are also applicable to natural persons for whom creditors have already obtained writs of execution or against whom court proceedings have been initiated. If the texts remain in its present form the new amendments will have a significant negative effect on the Bulgarian finance sector and on the real economy, the EBRD warns.
On the occasion of International Holocaust Remembrance Day, the U.S. Embassy in Sofia paid tribute to Bulgarian politician Dimitar Peshev and all those who followed his example of standing up for justice and humanity. On 27 January the world..
The "Stand up, Bulgaria" citizens' initiative is collecting signatures for the introduction of a cap on bank fees. The initiative's leader, former ombudsman Maya Manolova , noted that there was already a draft law, submitted by the Bulgarian..
Minister of Tourism Miroslav Borshosh and Marton Nagy - Minister of National Economy of Hungary signed a Memorandum of Understanding in the field of tourism. The Memorandum focuses on the exchange of information and experience in tourism, including..
Bulgarian exports to the USA in 2023 are worth 1.1 billion dollars, and number 1 on the export list with a share of nearly 19 percent are "coins that..
Swedish authorities have detained a ship suspected of sabotaging an undersea fiber optic cable in the Baltic Sea. The ship is the Bulgarian vessel..
The benefits for Bulgaria from full entry into Schengen are estimated at over 800 million euros per year. The largest benefits will be for manufacturers..
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