The day in 3 news: Is Bulgaria Schengen-fit?; Downgraded by the EBRD; Orgachim upgrades production in Ruse

The day in 3 news: Is Bulgaria Schengen-fit?; Downgraded by the EBRD; Orgachim upgrades production in Ruse

© Велко Ангелов


Bulgaria's Schengen bid still hinges on Austria, the Netherlands

As the debate over Bulgaria and Romania's entry into the Schengen area heats up again, the European Commission is set to push for the removal of border checks by land on October 10.

Despite support from the Commission and some progress earlier this year, Austria and the Netherlands remain the key obstacles. Austria's upcoming elections and its rising anti-immigration sentiment could further complicate the situation.

Meanwhile, political figures in Bulgaria, including President Rumen Radev, continue to voice frustration, but the outcome ultimately hinges on these two EU states.

Economic growth forecast is pared back

The European Bank for Reconstruction and Development (EBRD) has downgraded its economic growth forecast for Bulgaria over the next two years.

The 2023 growth projection was revised down by 0.4%, bringing it to 2.2%, while the 2024 forecast is now 2.9%, down from the previously expected 3%. This downward adjustment reflects broader regional trends, with growth in Southeast Europe also revised downward due to weaker industrial production and reduced demand for outsourcing services.

Orgachim with two new projects

Bulgarian paint and lacquer manufacturer Orgachim has launched two ambitious projects worth over 500,000 euros to upgrade its production facility in Ruse.

The company will invest 350,000 euros to expand its wastewater treatment capacity and implement new filtration systems, allowing it to handle up to 25 cubic meters of wastewater daily. Additionally, a new ventilation system will be installed at a cost of 160,000 euros, improving air quality and reducing noise.

These upgrades aim to enhance sustainability and position the company for potential future growth, with completion expected by the first quarter of 2025.

Bulgaria's Schengen bid still hinges on Austria, the Netherlands

As the debate over Bulgaria and Romania's entry into the Schengen area heats up again, the European Commission is set to push for the removal of border checks by land on October 10.

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