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Tax changes for 2006 proposed by the Ministry of Finance.
From a political point of view the new governments seems to have decided to stick with the status quo of fiscal policy. This scenario includes an increase of wage (in public sector) and pension expenditures, combined with modest reduction in investment expenditures and controlled expansion of new public employment. On a macro le...
Budget surplus continues to grow.
Recent data show that budget revenues grow at rates far exceeding the expected pace. For the eight months till August consolidated budget revenues reach BGN 11, 759 million, or 14% higher than the same period of 2004. Expenditures until August stay at BGN 10,440 million (14.4% growth over 2004). The resulting surplus of BGN 1,31...
Industry Watch released Q3 2005 Housing Market in Bulgaria report.
The report is available through subscription, prices start at BGN 890 per annum. For more details, use the link on the right or contact us at: subscription@iwatchbulgaria.com....
Real growth in the non-farm business sector slows down in Q2, although GDP growth stays at record high levels.
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In a secret vote on 27th July, the parliament rejected the government proposed by socialist leader Sergei Stanishev.
The coalition had 116 votes; it could also count on one MP that left the Ataka faction earlier and openly announced its support for BSP cabinet. The vote was a two-stage one: first, Sergei Stanishev had to be approved as prime minister, and second, the parliament had to approve the structure and the staff of the cabinet. Stanish...
Credit grew modestly in from end-May to mid-July, reflecting the impact of BNB restrictive measures.
Credit to private sector by mid-July was BGN 16,524, or a growth of 0.7% for six weeks since our last survey. The M3 aggregate grew by 5.3% to BGN 23,676 million – quite faster than the expansion of the monetary base. The latter grew by BGN 163 million in June and first half of July or 2.3% up from end-May. The other reason was ...
Short-term fiscal policy of the new government: possible scenarios.
Industry Watch report is available in Bulgarian; please contact us for more details....
The state of public finance by mid-2005.
The new government will take office in a time of unprecedented size of fiscal reserve, low level of public debt, and high growth of public revenues.By May, public revenues reached BGN 7.35 billion, or 15.3% higher than in the first five months of 2004. Tax revenues grew by 13.8%, with VAT and fuel excises growing by about 20%.Pu...

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