World Bank

China Bans Plastic Bags and Straws

China will ban non-degradable plastic bags in big cities. The restaurant industry will also be banned from using single-use straws by the end of this year in an effort to reduce waste.

The country is one of the largest plastic consumers in the world, and the plan aims to reduce 30% non-degradable single-use packaging in large cities' food establishments within 5 years.

BNR: Bulgaria has 93.75 of 100 Points According to Gender Equality Index

Bulgarian institutions have been working actively against anti-Semitism, xenophobia, discrimination and intolerance, Deputy Prime Minister and Minister of Foreign Affairs Ekaterina Zaharieva pointed out during chairing the 7th session of the National Coordination Mechanism for Human Rights, BNR reported.

World Bank: Turkey recovering 'faster than expected'

A World Bank report released late on Jan. 8 projected the Turkish economy would grow 3 percent in 2020 and 4 percent in 2021, rebounding from earlier financial turmoil at a faster pace than expected as domestic demand improves.

The bank revised its previous forecast that Turkey would contract 1 percent in June 2019 to 0 percent in its latest Global Economic Prospects report.

World Bank Raised Economic Growth Projections for Bulgaria

In a report, published last night, the World Bank raises the 2018 economic growth forecast of Bulgaria from 3 to 3.6 percent, BNR reported.

For this and for next year, the World Bank is also raising its forecast - a 3 percent growth rate for 2020, and 3.1 percent for 2021. In June last year its growth forecast was 2.8 percent for both years. 

PM Orban: We have highest VAT evasion, lowest VAT collection rate in EU

Prime Minister Ludovic Orban said on Wednesday that Romania has the highest VAT evasion and the lowest VAT collection rate in the European Union, but the level of 19pct is a reasonable one. "We are the country with the highest VAT evasion. We have the lowest VAT collection rate in the EU.

World Bank’s Doing Business 2020 Ranking: Bulgaria Drops 2 Positions Down

Bulgaria dropped down from the 59th to the 61st position in the Doing Business 2020 annual ranking of the World Bank. The report of the financial institution assesses the reforms in the national economies in terms of business environment, poverty levels, regulatory efficiency, promotion of entrepreneurship, startups, innovations, access to credits and investments, BNR reported.

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