Hristiyan Krastev

The train from Sofia to Varna which went off the tracks on Saturday at the Kaloyanovets station was moving at a speed of 100 km/h at the time of the incident, authorities say.

The speed limit in the section of the railroad it was crossing was 40 km/h.

The Bulgarian National Railways (BDZ) are facing nether bankruptcy nor mass layoffs, Hristiyan Krastev, the state-owned company's chief executive, said on Monday.

Krastev told the public broadcaster BNT that BDZ is still committed to reducing its huge debt, which in his words went BGN 100 M (EUR 50 M) down in 2013.