A World Bank report on public finances in Bulgaria points out the need to improve VAT collection. It also states that greater efficiency is needed in public procurement, spending on education and helping the vulnerable groups.
According to the authors of the report, if measures were not taken now, in the long term the potential for economic growth would be severely limited. As an example, the still differentiated VAT rates, especially in the restaurant industry, the inefficient spending on education and public procurement are pointed out. It is for this reason that “if the necessary reforms are not undertaken now, growth could slow to around 1.25% by 2050." According to Deputy Minister Georgi Klisurski, in order to accelerate growth, the ministry will rely heavily on investments. Therefore, negotiations with foreign investors are conducted daily.
The production of the first Stryker armored combat vehicles for Bulgaria has already begun in the US and is on schedule. This was announced to the Bulgarian Army newspaper by the Chief of Staff of the Land Forces, Brigadier General Stoyan Shopov...
Bulgaria’s Executive Agency for Bulgarians Abroad (EABA) will hold an awards ceremony for the winners of three annual international competitions for children and young people from the Bulgarian diaspora. The recipients of the Stefan Getchev..
The Church of the Transfiguration of the Lord in Borovets - the only wooden church in Bulgaria, marked its holiday today. A liturgy was served by Bishop Gerasim of Melnik. The Speaker of the National Assembly, Natalia Kiselova, was among the official..
Amendments to Bulgaria’s Road Traffic Law, published in today's issue of the State Gazette, will come into force in one month. From 5 September,..
On Wednesday, minimum temperatures will range from 16 °C to 21 °C , with 16 °C in Sofia. It will be mostly sunny during the day, but rain and thunderstorms..
On Thursday, minimum temperatures will range from 14 to 22°C, reaching a low of 14°C in Sofia. It will be mostly sunny during the day , with temporary..
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