There is no risk of bankruptcy, or a need to take out new debt from the International Monetary Fund, reassured Finance Minister Rositsa Velkova after yesterday's leaked report about Bulgaria's financial difficulties. Sofia's finances, with a deficit of 3%, are stable, she guaranteed.
There was also no risk to the currency board. "We follow a long-term fiscal policy that is within 3%. Next week we will pay 3 billion in debt. The fiscal reserve after paying and repaying the debt will be in the 10 billion range," said Velkova.
She added that the analysis was conducted not for the purpose of "sending a message to the political parties before the elections" and emphasized that the Ministry of Finance is monitoring how to cut the current 6-7% deficit.
Huge PPA signed
Only the third ever Power Purchase agreement (PPA) in Bulgaria was signed this week- between telecom Yettel, CETIN Bulgaria (both part of the PPF Group), and electricity trader Electrohold.
The 10-year agreement underlines the big companies' interest in buying green electricity at fixed long-term prices and avoiding market volatility.
The electricity will be provided by the newly built photovoltaic plant with a capacity of 124 megawatts in the Verila mountain near Dupnitsa. The plant was designed by the German company Sunotec, which also has a representative office in Sofia, and will be one of the largest in the country when operational.
The investor is Belozem Solar Park 3, whose owners are Asen Hristov (the main owner of Eurohold and, respectively, Electrohold), Kiril Boshov (Chairman of the Board of Directors of Eurohold), Velislav Hristov (member of the Board of Directors of Eurohold), Sami Chakarov and Martin Nankov.
More pressure at border from illegal entry
Border crossing attempts so far this year have increased by 30 percent compared to the same period in 2022, according to the Minister of Internal Affairs Ivan Demerdzhiev.
But a very small proportion of migrants actually succeed in entering the country, he stressed. Recent months have seen seen several high profile cases of buses filled with migrants getting caught, some of which were driven by Bulgarian nationals.
There is no risk of bankruptcy, or a need to take out new debt from the International Monetary Fund, reassured Finance Minister Rositsa Velkova after yesterday's leaked report about Bulgaria's financial difficulties. Sofia's finances, with a deficit of 3%, are stable, she guaranteed.
There was also no risk to the currency board. "We follow a long-term fiscal policy that is within 3%. Next week we will pay 3 billion in debt. The fiscal reserve after paying and repaying the debt will be in the 10 billion range," said Velkova.
