Bulgaria

Foreign investments drop in Bulgaria amid global crisis

Sofia, BulgariaSofia - Foreign investments in Bulgaria have dropped at a rate of 7-8 per cent owing to the global financial crisis, an economic expert said Monday citing raw data.

Foreign investments in first eight months of 2008 totalled 1 billion euros (1.35 billion dollars) less than in the corresponding period in 2007, the head of the Centre for Liberal Strategies, Georgi Ganev, told Darik Radio.

Stressing the figures were "preliminary," without the seasonal factor included, Genev said "the final drop would be around half a billion euros, or 7-8 per cent, from the 6 billion in 2007.

Bulgaria launches first trial for abuse of EU funds

BulgariaSofia  - A Bulgarian court on Monday launched a trial against 9 people accused of embezzling millions from European Union aid funds.

The defendants were accused of stealing 14 million leva (9.6 million dollars) from funds made available to Bulgaria by the EU as part of the SAPARD (Special Accession Programme for Agriculture and Rural Development) programme.

The defendants allegedly imported used machinery for meat processing, but forged documents so the machines could be registered as new. The EU fund was drawn upon for the cost of new equipment, with the defendants allegedly pocketing the difference.

Trial starts in Bulgaria against 9 persons for embezzling millions from EU Aid Funds

Sofia - A Bulgarian court on Monday launched a trial against 9 people accused of embezzling millions from European Union aid funds.

Bulgaria passes overdue law on conflicts of interest

BulgariaSofia  - Almost two years after joining the European Union, Bulgaria has passed legislat

Bulgaria overshoots annual inflation target rate in September

Sofia, BulgariaSofia - Bulgarian retail prices went up by 1.1 per ce

Bulgaria raises guarantees for savings to 50,000 euros

Sofia, BulgariaSofia  - Bulgaria will raise guarantees for bank deposits from 20,000 to 5

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