International relations

SARAJEVO - The stability, prosperity and successful EU integration of Bosnia-Herzegovina are of great interest to Serbia, Serbian Ambassador to Bosnia-Herzegovina Stanimir Vukicevic has said, adding that any changes in Bosnia-Herzegovina are the result of agreements made within the country.

Although Bulgaria has been increasing innovations spending, it has failed to derive sufficient economic growth from that, according to Deputy Prime Minister Daniela Bobeva.

Land troops of 12 countries will take part in the international military exercise at the Novo Selo range in Bulgaria. 

Saber Guardian, the largest exercise for this year, starts on Friday and will include 700 troops from Bulgaria, Armenia, Azerbaijan, Georgia, Moldova, Romania, Serbia, USA, Belgium, Turkey and Ukraine, according to Bulgaria's Defence Ministry.

Bulgaria is drafting amendments to the Territorial Zoning Act, to ease investments in construction, said the Minister of Investment Planning Ivan Danov. 

There will also be a new package of laws on city planning and urbanization in that regard. 

Bulgaria's state budget loses BGN 2B annually due to VAT fraud, according to data of the Economic Research Institute with the Bulgarian Academy of Sciences.

Taking into account the uncollected excise duty, losses swell up to BGN 4B per year, the Director of the Institute Prof. Mitko Dimitrov said, cited by Cross news agency.

Ukrainian global outsourcing product and application development company SoftServe announced the opening of a software development center in Sofia, Bulgaria.

The center will augment various software development engagements to support the company's vertical strategy.

Bulgaria's Finance Ministry is drafting a tax fraud prevention strategy in cooperation with other control authorities.

"Debt reduction requires major budget cuts"

BELGRADE -- An International Monetary Fund mission will visit Serbia for talks on a new three-year arrangement with the country shortly after a new government is formed.

BELGRADE - An International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement with the country shortly after its new government is formed, Finance Minister Lazar Krstic has announced, adding that public debt reduction will be one of the goals of the new government, making major budget cuts a necessity.

In a report issued on Wednesday, following discussing between the Albanian government and the Fund from October to December, the IMF said Albania’s economy had weakened and macro-economic imbalances had widened.