The liberalization of the Bulgarian power market has been characterized by constant external (the European Commission) and internal (private stakeholders) pressure. Regardless, the government has shown prevailing reluctance to take any serious actions.
Forth year in a row, the Regional Office of Friedrich Naumann Foundation for East and Southeast Europe (FNF SEE), together with a group of Bulgarian investigative journalists, gathered examples of abuse of public money – both of the Bulgarian and European taxpayer.
Fiscal decentralization is often viewed as a niche issue that mostly concerns administrative and regional development policies. However, it has broader social and economic implications, which are often overlooked, especially in countries with a heavily centralized government structure such as Bulgaria.
In August, the Bulgarian government adopted a detailed action plan for joining ERM II and the Banking Union and there were some changes1 to the Bulgarian National Bank Act that also seem to lead in this general direction.
The presentation of the recently published ECB and EC reports was highly anticipated by Bulgarians, as the Bulgarian government’s intention is to officially sign up for the eurozone waiting room by the end of June.
This paper aims to explore the history, structure, and economic consequences of the currency board in Bulgaria, which was introduced as an emergency measure to combat the late-nineties economic crisis, though has stayed in place ever since.
The hatred towards the “other” constitutes a leading political platform of one of the two ruling Bulgarian parties – United Patriots. On the other hand, populism is finding gaps in the economic policy through statements on the fight against monopolies and a number of legal actions to curb business.
The story of Georgy Markov does not end here. Freedom lovers in Bulgaria are raising funds to publish his collected writing. In a letter to a friend sent immediately after he moved to London, Markov, for some reason stated: “If we look at things historically, the victor in all events, even if I die, will be me!”
Bulgaria’s accession to the Eurozone became again a part of public discourse, after the minister of finance of the first Borisov government gave up on it in 2012. This will without a doubt bring opportunities as well as threats for the economy, and more often than not opinions are polarized.