Little interest in new Svishtov industry construction project
One of the first industrial park projects funded through the Recovery and Resilience Mechanism is nearing the construction phase. The municipal company Industrial Technological Park - Svishtov announced the procurement process on November 20, 2024, with candidates now selected for seven separate positions. The project, valued at 26.66 million levs(excluding VAT), is set for completion by May 2026, with 78% of its total 34.5 million levs budget covered by grants.
Notably, competition for the contracts is minimal, with only one receiving two bids, while a single consortium, DZZD BSO, has submitted proposals for four positions, raising questions about potential political and business connections.
WCC-DB proposes that public also pay up for social security contributions
MPs from the opposition WCC-DB coalition have proposed changes to the Social Security Code which aim to make state employees, military personnel, police officers, and judiciary workers contribute to their social security on par with private-sector employees. The reform is intended to create greater equality between public and private workers while reducing the growing deficit in the State Social Insurance fund.
Currently, the government fully covers the social security contributions for public sector employees, unlike private-sector workers, who share the cost with their employers in a ratio of 60/40. Economists argue that this disparity distorts the labor market and gives the public sector an unfair competitive advantage over private employers.
Brussels take Sofia to court over bad loans directive
The European Commission announced on Wednesday that it has filed a lawsuit against Bulgaria, seeking financial penalties for the country's failure to implement the EU directive on non-performing loans. This marks the second case against Bulgaria in just three months, following a December lawsuit over its non-compliance with the Proportionality Test Directive.
The Commission stated that 13 months after launching infringement proceedings, Bulgarian authorities have not demonstrated a commitment to adopting the required EU standards. The directive, adopted in 2021, aims to regulate the secondary market for bad loans by establishing licensing and oversight rules for credit buyers and servicers while enhancing debtor protections and transparency.
Little interest in new Svishtov industry construction project
One of the first industrial park projects funded through the Recovery and Resilience Mechanism is nearing the construction phase. The municipal company Industrial Technological Park - Svishtov announced the procurement process on November 20, 2024, with candidates now selected for seven separate positions. The project, valued at 26.66 million levs(excluding VAT), is set for completion by May 2026, with 78% of its total 34.5 million levs budget covered by grants.
