The direct losses for Bulgaria from the delayed full accession to the Schengen Area amount to EUR 424 million, caretaker Minister of Economy Petko Nikolov said. He quoted a report by the Economic Research Institute at the Bulgarian Academy of Sciences, commissioned by the Ministry of Economy.
At a discussion in Sofia on the priorities of the Hungarian presidency of the Council of the European Union and their repercussions on the Bulgarian political agenda, Minister Nikolov pointed out that the direct losses should be added to the lost profits of around EUR 275 million. Thus, the potential benefits from removing land border controls exceed EUR 680 million annually. Additionally, the accession to Schengen by land will reduce carbon emissions from traffic. "Transport connectivity will improve, trade and investment flows will increase and travel time and costs will decrease", summarized Minister Nikolov.
Japan's Sumitomo Electric Bordnetze plans to cease operations at one of its factories in Bulgaria, located in Mezdra, by 2025. Its second factory in Karnobat will continue to operate at reduced capacity, BTA reported. The decision comes as the company..
State-owned dairy company LB Bulgaricum will start modernising its production facility in Vidin in September. The first step will be to renovate the refrigeration units and repave the alleys leading to the workshops and the car park in..
The Minister of Innovation and Growth, Rosen Karadimov, has not given up on the idea of the Bulgarian Development Bank (BDB) granting preferential loans to those working in the public sector. In an interview with BNT, he said that..
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