Archive for November, 2018

By 2020, the Drinking Water Treatment Plant in Sliven will be Completed

Friday, November 30th, 2018

A little over BGN 3 million needed to complete the drinking water treatment plant in Sliven are provided in the budget program of the Ministry of Regional Development and Public Works for the period 2018 – 2020. This was announced by Minister Petya Avramova in her participation in the parliamentary control in response to a question of renewal of the construction of the facility.

A public procurement contract is to be announced for the completion of the completed construction, design and construction and assembly works for its completion. The estimated lifetime of these activities is 2020.

The station will clean the supplied water for Sliven from the Asenovets dam. Currently, this percentage is 90.  Its construction was frozen in 2009. One of the main reasons is that the incoming water pipelines from the dam to the drinking water treatment plant as well as those from the facility to the city are not built.

The design and construction of water pipelines will be financed by the Operational Program “Environment 2014-2020″. 

The total value of all sites there is about BGN 40 million.

The period for which the operator must apply for funding under the program is 23 April 2019.

The improved water treatment plant service in Sliven is expected to benefit more than 81,000 people after the implementation of the sites provided for in the regional pre-investment survey. 


NSI: Business Climate in Bulgaria Improves with the Exception of Construction

Friday, November 30th, 2018

Regular Business Surveys of the National Statistical Institute reported improvements in the business environment in the country in November, excluding construction. The overall business climate indicator increased by 0.6 percentage points compared to October, driven by improved business conditions in industry and retail. The indicator for the Services sector is unchanged. The main factors hampering business continue to be linked to the precarious economic environment and labor shortages. According to the surveyed managers, sales prices will remain unchanged over the next three months.

Manufacturing. The composite indicator “business climate in industry” increased by 1.8 points as a result of the improved expectations of industrial entrepreneurs on the business situation of enterprises over the next six months. The survey recorded a certain increase in production assurance with orders, but this was not accompanied by increased expectations of production activity over the next three months.

Construction. In November, the business climate in the sector deteriorated by 2.2 points, due to the more reserved estimates of the contractors for the current business situation of the enterprises. Their opinions on construction activity over the past three months, as well as their expectations for the next three months, are also less favorable.

Retail. The Business Climate Index rises by 1.0 percentage point compared to October as a result of improved retailers’ expectations about the business situation of enterprises over the next six months. Their forecasts of volume of sales and orders to suppliers over the next three months are also favorable. Competition in the industry continues to be the main obstacle to business, followed by uncertain economic environment and insufficient demand.

Services. In November, the business climate in the sector remained roughly the same as in the previous month. Managers’ expectations for business development in the sector over the next six months are more optimistic and their service demand forecasts over the next three months are improving.


New Enriched Transport Map for Citizens and Tourists in Burgas

Friday, November 30th, 2018

The rapidly developing sea town of Burgas can now boast a new transport map for its citizens and guests. Created by independent designer Ivan Manolov, in partnership with Burgas Municipality and Burgasbus, it is part of the overall efforts to modernize and improve urban transport in the Black Sea city over the last few years. The map includes a large part of the geographical landmarks of the existing Burgas transport scheme and builds on them with the addition of important and recognizable sites to facilitate the residents and guests of the city. Other changes and improvements have been made to make the information contained on it more effective, as well as more accessible and comprehensible.

“We have created the new information card to show that, through deeper design changes and solutions, it can greatly facilitate the lives of citizens and tourists in a big city. I am glad that the project is already positive and Burgas is approaching modern trends in transport and urban development. I hope that after the introduction of the card, we will have the opportunity to work on improving the schedules and signs at the direction stops and the bus lines passing from there, “says expert Ivan Manolov, who is the founder of the project.

The distance between the Meden Rudnik neighborhood and the center is visually shortened, and the size of the central districts is enlarged so that all lines and stops can be easily tracked. With bright and contrasting colors, emphasis is placed on the importance of the fast bus (B1 and B2), where buses from large districts move to the center of the city. The main transport links (such as airport, car and train stations) are marked with additional information. The stops from which you can catch a bus to the airport are marked with an additional icon and the number of the bus.

As additional elements are added the central pedestrian streets of Bourgas, bicycle rental stations, as well as other useful places such as museums, monuments and large shops. They, as well as less frequently used lines leading from and to the suburbs of the city, are marked with low contrasting colors. Thus, a visual hierarchy has been established in the design of the new transport map of the city, focusing on important lines and elements, while the secondary ones are unobtrusively present.


The Second Pipe of Turkish Stream Will Pass Through Bulgaria

Friday, November 30th, 2018

The second pipe of “Turkish Stream” will pass through Bulgaria. Energy Minister Temenuzhka Petkova said during a briefing at the National Assembly.

Gazprom closely monitors the development of the project for the extension of the national gas transmission network in Bulgaria, which is being implemented by Bulgartransgaz in the section from the Bulgarian-Turkish to the Bulgarian-Serbian border. The company is interested in the realization of the project and expects 3 phases of the competition”’, according to the official announcement of the Russian corporation, quoted by the TASS agency.

MPs approved a major change in energy strategy by the Ministry of Energy by 2020. New infrastructure is planned to be built within 484 kilometers.


18 Billion Euros in Exports for 8 Months in Bulgaria

Friday, November 30th, 2018

Bulgaria exported goods and products for nearly 18 billion euros in the first eight months of 2018. This was announced by Deputy Minister of Economy Alexander Manolev during a Discussion Forum on “Digital Challenges for Modern Companies”. The event is organized by The Chamber of Commerce and Industry and the National Business Network, and Mariya Gabriela, European Commissioner for Digital Economy and Digital Society, Tsvetan Simeonov, Chairman of BCCI Managing Board and Desislava Ivanova, Chairperson of the Management Board of the Association, took part in its opening.

“There is no easier and more accessible tool to support Bulgarian exports from the digitization of small and medium-sized enterprises and increase the share of e-commerce,” said Alexander Manolev. In his words, this may not be a central theme, but the introduction of innovation and the modernization of production, but in no case should it be underestimated. That is why the Ministry of Economy strives actively to partner with business and global leaders in the field of information and communication technologies.

The Economic Deputy Minister has set an example for Google’s joint training with more than 26,000 people in the field of digital skills. “We are launching a training program with ebay that will target small and medium enterprises and startarts in Bulgaria,” said Alexander Manolev.

According to the statistics presented by him over the last 10 years, over EUR 1 billion has been invested through the OP “Competitiveness” and OP “Innovation and Competitiveness” in support of small and medium enterprises. “A large part of these funds were precisely for the introduction of innovations and technological solutions,” Deputy Minister Manolev said. He also drew attention to the advantages that our country has in emphasizing that the added value of the sector, from components to software products, amounts to more than € 1.4 billion and increases by 22% in 2016. According to Eurostat, people work in it, and every year more than 4 thousand students graduate in such specialties in Bulgarian higher education institutions.


Bulgarian PM Borisov: A Threat of 40 Million Migrants from Africa Hangs over the EU

Friday, November 30th, 2018

A threat from 40 million economic migrants from Africa hangs over the European Union. Prime Minister Boyko Borisov warned, Nova TV reported.

From Morocco, the prime minister also expressed a sharp stance on the Russia-Ukraine conflict.

Late in the evening Thursday, Borisov insisted on an urgent solution to the crisis and warned that tensions could escalate seriously and even threaten Bulgaria.

“For us, as neighbors of both countries, and the Black Sea, such a conflict is an exceptional threat, and there may be a terrible conflict in the Black Sea and the region. Believe me, in this region we can repeat the events of the former Yugoslavia There are absolutely all the prerequisites. Let’s return the sailors, return the ships, follow the agreements and not allow more trouble, “said Boyko Borisov.

Highlights in the talks of the two delegations are the security and economic development of the relations between Bulgaria and Morocco. It is also expected that an agreement on the social security agreement will be signed.


Euro Аrea Аnnual Inflation Down to 2.0%

Friday, November 30th, 2018

Euro area annual inflation is expected to be 2.0% in November 2018, down from 2.2% in October 2018, according to a flash estimate from Eurostat, the statistical office of the European Union. 

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in November (9.1%, compared with 10.7% in October), followed by food, alcohol & tobacco (2.0%, compared with 2.2% in October), services (1.3%, compared with 1.5% in October), and non-energy industrial goods (0.4%, stable compared with October).


The Way He Clicked His Pen in Meetings was Absolute Torture

Friday, November 30th, 2018

Pen Clicking Business Cartoon

I haven’t been in an actual meeting room in a very long time. (I take that back. I took some meetings about my new website a while back in which I spilled various food and drink on myself including coffee, salad dressing, and a bagel with cream cheese.)

Anyway, if memory serves, there was often a person clicking a pen. Click. Click. Click. Click. Click. Click. Click. Click. Click …

Are you getting chills?

I always thought that that could be used to extract information from someone if necessary, and years later I drew that up.

This article, “The Way He Clicked His Pen in Meetings was Absolute Torture” was first published on Small Business Trends


For the First Time in Bulgaria Interest on Business Deposits has a Negative Return

Friday, November 30th, 2018

In the last two years interest rates on deposits in the banking market in Bulgaria have steadily declined, and in 2016 for the first time they have fallen below 1%. October brought a new record in this direction as for the first time in Bulgaria a negative return on deposits was reported, according to

Recent data from the Bulgarian National Bank (BNB) show that interest on corporate deposits in euro has fallen to minus 0.02% at 0.05% for the previous month and 0.39% for the same period of the previous year. Thus, for the first time, companies will not get a return on their deposits in banks, and vice versa – they will pay financial institutions to store their money. However, interest rates on lev deposits remained positive, although at a record low of 0.09 per cent at 0.10 per cent in the previous month and 0.18 per cent in October 2017.

According to the BNB data for the period under review, yields continued to decline in BGN deposits but rose slightly in those in EUR. In the first case, it stood at 0.17% in October 2018 at 0.18% in the same month of the previous year. Euro deposits rose to 0.21 per cent in October at 0.18 per cent in September this year. As of the end of the tenth month of the year total deposits of the non-governmental sector in Bulgaria amounted to BGN 77,058 billion or amounted to 74,6% of gross domestic product (GDP). They increased by 8.4% on an annual basis. Despite the record low yield, business deposits grew by 12.1% yoy to BGN 24.149 billion at the end of October. Household deposits also increased to BGN 50,102 billion, up 7.5% over the same period in 2017.


Sofia Municipality Provides BGN 100 Million for Repairs of the Water Supply Network

Friday, November 30th, 2018

By the end of this year, the Sofia City Council will choose neighborhoods and settlements around Sofia to replace or build plumbing and sewerage, with a total project amount of 500 million leva. To this end, the municipality will apply for BGN 400 mln under the Operational Program “Environment” 2014-2020 and the remaining BGN 100 mln will allocate from its budget, Dnevnik reported.

The project was submitted to the municipal committee on engineering structure and is part of the municipal plan of the year for the construction and rehabilitation of the water transmission network. The implementation deadline is 2025 and the total value of all projects is 2 billion leva. The presented proposal envisages the reconstruction of the two Bistritza and Pancharevo drinking water treatment plants as well as the increase of the capacity of the sewage treatment plant from the Kubratovo waste water treatment plant. The sites are essential for the purification of drinking water in Sofia.

Among the designated neighborhoods of the capital are Gorublyane, Amerikan College, Krastova Vada, Manastirski Livadi, Vitosha Hydro Power Station Simeonovo, Gorna Banya, Suhodol, Simeonovo, Suhodol, Dragalevtsi “,” Boyana “,” Benkovski “,  “Orlandovtsi”.

Repairs of the water supply and sewerage network up to 2020 can also be expected in the villages of German, Lozen, Pancharevo, Bistritsa, Kokalyane, Krivina, Kazichene, Chepintsi, Negovan “Svetovrachene, Kubratovo, Abdovitsa, Busmanci, Ivanyane, Voluyak, Dolni Bogrov, Gorni Bogrov, Yana.


Business news