Bulgarian economy rebounds with 9.6% growth y/y on Q2 after 1.8% drop in Q1The remarkable growth rate in the second quarter is easily explained by the fact that the same period last year saw the strictest ever lockdown measures. On a quarterly comparison basis, however, GDP growth was significantly slower, 0.4%. This is below the EU average of 2% and is attributed mainly to the fact that EU economies were closed in the first quarter due to the pandemic, while Bulgaria's economy remained largely open and growing.
Consumption remained the big growth driver in April-June, recording an increase of 6.7% on an annual comparison basis and 2.5% on a quarterly basis.
Parliament approves a declaration against police violence against protesters in 2020
At a special sitting, MPs adopted a declaration in which it apologizes to people severely beaten by police during last year's anti-government protests. They also approved a motion to summon Prosecutor-General Ivan Geshev and demand a report on the ongoing investigation into the matter. Geshev earlier rejected an invitation to speak before Parliament today, following suspicions that the prosecution and police have colluded to hide the CCTV recordings showing the beatings.
A small company gets anti-trust nod to build the gas link with Serbia
The Canpipe consortium comprising a unit of Canadian company Canpipe Industries International Inc. and its eponymous Bulgarian subsidiary, received a boost from Bulgaria's anti-trust body. The Commission for Protection of Competition rejected all complaints filed by leading Bulgarian construction companies regarding the public procurement tender for the construction of a gas link with Serbia held by gas transmission system operator Bulgartransgaz. The unknown consortium, which reported a turnover of just 379,000 levs (193,800 euro) and an accounting loss of 58,000 levs for 2019, won the tender with a price offer of 164 million levs - not the lowest one submitted in the process.