Radev still opposes arms to Ukraine
President Rumen Radev reiterated his opposition to sending arms to Ukraine, saying that Bulgaria should not intervene in the conflict. And he once again said he did not support participating in the European Union initiative to send 1 million projectiles to the besieged state.
"This is not the way to end this conflict. You see that it is escalating, you see that it carries huge risks. It is draining our economy and social systems. While I represented Bulgaria in the Council of the EU, I resisted this situation. It became clear that Bulgaria is not part of the initiative for 1 billion projectiles," said the head of state.
Newly appointed Defense Minister Todor Tagarev recently announced that Sofia was looking for a way to join, and that Bulgaria has the resources to help Ukraine with arms.
2023 State budget to be accepted by August 1st
The Ministry of Finance is preparing a draft budget that meets the criteria for entering the eurozone. Earlier today Assen Vassilev presented some parameters after they were discussed with the parliamentary committee on budget and finance. The projected deficit is 3% on an accrued basis and 2.5% on a cash basis, Vassilev announced.
He explained that the macro framework of the budget has not been changed compared to the budget submitted by the government in the National Assembly, so that the law can enter into force as soon as possible, on August 1. The plan is for it to be adopted by the deputies by the end of July.
Smart Organic acquires German Naughty Nuts
Bulgaria's biggest health food distributor Smart Organic has acquired German organic food startup Naughty Nuts. Founded in 2021, the company offers nut spreads in more than 1,200 stores.
In 2022, the company failed to collect enough investment capital to cover the growing activity and went bankrupt. Smart Organic is now buying it for 150 thousand euros. The Naughty Nuts business is planned to be merged into the German subsidiary of Smart Organic, while production will be transferred to Smart Organic's production facilities. The deal further strengthens Smart Organic's presence in Germany as a strategic region for future expansion, where it already distributes a large selection of its products.