Wed, Jun 19 2013
Ognyan Donev, left, chairman of the Confederation of Employers and Industrialists in Bulgaria, and Miroslav Naidenov, Bulgaria's Minister of Agriculture and Food.
Photo: Krassimir Yuskesseliev
European economic model has been good for Bulgaria; now Europe and Bulgaria need to improve government and labour markets. The World Bank’s Chief Economist for Europe and Central Asia presented the latest report ‘Golden Growth: Restoring the Lustre of the European Economic Model.
Foreign companies hold their positions, or make slight gains.
Bulgaria suspended electricity exports on February 10 because of a breakdown in AES Galabovo thermal power plant, bad weather conditions, difficult coal production and record high domestic demand.
A presidential call for a promotional campaign, a legislative attempt at reform, and some signs of growth in hardy soil.
The full year tally showed Bulgaria ended the year with a trade surplus of 625 million leva.
Bulgarian exports to other EU countries increased by close to 34 per cent in the first nine months of 2011, compared to the same period in 2010.
The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho.
The Eurostat data agency said that unemployment reached 10.9 per cent in March, up from 10.8 per cent in February. The March figure translates to 17.4 million people unemployed in the euro zone.
Citing three separate sources familiar with the deal, Capital Daily reports that the creditors found offers submitted by three bidders unsatisfactory.
Eurobank EFG is left with a 30 per cent stake in the merged entity but has said it will exercise its put option on the remaining holding.
The narrow focus of many euro zone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe, said the Director of the ILO Institute for International Labour Studies and lead author of the report, Raymond Torres.