Latest News from Bulgaria

Budget Update Bill to Be Debated in Parliament Committee

A bill to overhaul the 2014 budget will be put forward for discussion in the provisional Budget and Finance Committee of BUlgaria's Parliament.

The draft legislation was submitted to the National Assembly after the government adopted its text on Tuesday.

It envisages an increased budget deficit of BGN 2.992 B (3.7 percent of GDP) and a cap of this year's debt worth BGN 4.5 B.

Fourlis to bring The Athlete’s Foot to Greece

Fourlis is extending its deal with Intersport International to include the launch of the multinationals other chain of stores besides Intersport, The Athletes Foot, which operates in several countries together with Intersport.

The move forms part of the Athens-listed holding companys strategy to introduce big international brands to the domestic market.

Vladimir Vladimirov to Head Bulgarian Railways Company Again

Vladimir Vladimirov, who had been board chairman of Bulgarian state railways company BDZ in 2009-2013, was elected executive director on Wednesday.

Velik Zanchev was elected BDZ board chairman, the Transport Ministry said in a statement.

Bulgaria's Consumer Prices Rise 0.9% M/M in October

Bulgaria's consumer prices rose 0.9% month on month in October after falling by 0.2% in each of the previous two months, the statistics office said in Wednesday.

Bulgargaz Has No Reason to Seek 2% Price Hike, Regulator Says

The intention of Bulgargaz to seek a 2% increase in the price of natural gas is "groundless", a member of Bulgaria's energy regulator said on Wednesday.

"If you want me to say it explicitly - no, they have no grounds for an increase of that scale," Dimitar Dimitrov said.

Bulgaria's Police Seizes 112 kg Of Heroin

A special police operation seized 112 kg of heroin, worth BGN 14 M, near the border with Turkey, said Bulgaria's Interior Ministry.

According to the report, on November 10 border police patrolling the area of the Shtit village near Svilengrad, noticed four large bags hidden in the thick shrubbery.

PM advisor Socol: IMF confirms Romania's macroeconomic progress in last 2 years

The statements of the International Monetary Fund (IMF) representative for Romania and Bulgaria, Guillermo Tolosa, confirm the macroeconomic progress Romania has made over the past two years and the fact that Romania was not in technical recession, prime minister's economy advisor Cristian Socol told AGERPRES.

IMF Rep Praises Bulgaria's Macroeconomic Stability, Urges Reforms

Bulgaria is at one of the leading positions in Central and Eastern Europe in macroeconomic stability, but needs reforms, said Guillermo Tolosa, the IMF representative to Bulgaria and Romania, quoted by the BTA wire service.

"There is enough proof for the close relation between reforms and convergence, even if the effect of the reforms is not immediately visible," Tolosa said.

Poisoned Dissident Markov Gets Statue in Sofia

Bulgaria's President, Rosen Plevneliev, has unveiled a statue of the Bulgarian dissident Georgi Markov, who was assassinated on Waterloo Bridge in London in 1978 in one of the most infamous targeted killings of the Cold War era.

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Varna Introduces Stiff Fines For Parking Violations

The municipal council of Bulgaria's coast city of Varna introduced stiff fines for parking violations in the city, reports the Varna Utre website.

The proposal, tabled by Varna Mayor Ivan Portnih, provides for increase of fines for parking on pedestrian crossings, parks, park alleys, playgrounds and pavements.

Bulgaria’s Govt Dismisses President of State Reserve Agency

Bulgaria's new government has dismissed the President of the State Agency State Reserve and War-time Stocks, Emil Kolev, appointing Stanimir Peev as his successor.

Peev was at the head of the state agency in the period August 2009 - May 2013, according to Sega daily.

Prior to that, Peev was mayor of the Sofia Municipality's Pancharevo district.