Reports

КQUARTERLY #6
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КQUARTERLY #6

March 2018
Bulgaria's business, economy and politics explained in 128 pages of quality reporting

Stories in this report

What's the matter with Bulgaria?

Why eleven years of EU membership have not brought about the positive changes that most Bulgarians expected

FAST READS

Istanbul Convention, Nationalist split, ERM II postponed, Kelner bids for Telenor

The Airman, the Fireman and the Businessman

In a verbal spat between General Rumen Radev, a former fighter pilot, and General Boyko Borissov, a former fireman, the rarely mentioned name of business mogul Delyan Peevski emerged but that may not amount to much

The one thing that frightens him

Prime Minister Boyko Borissov has a weak spot for protests - especially when they target him or touch on sensitive topics

When the fight against corruption starts with corruption

Why is Plamen Georgiev not likely to become "Mr. Clean"?

Crime in Bulgaria: fears and realities

Despite the recent wave of violent crime, the country is not the hellhole described by the media.

Is it really greens vs business in Bansko?

The possibility of Bansko ski zone expansion into the Pirin National Park sparked nation-wide protests, international public scandals and inter-institutional bickering, revealing the degree to which the Bulgarians state is captured by private interests

Five Years After

Bulgaria’s will to protest might seem exhausted in the years following the summer of 2013, but dissatisfaction with the country’s politics still simmers

Political responsibility cannot be imported from abroad

Bulgaria and other East European countries still lack institutional frameworks that hold politicians accountable

Reform of the Judiciary? Only if the Prosecutor General allows it

Investors in Bulgaria must be constantly on the lookout for whether their company might be stolen by means of documentary fraud, fake proceedings, or a competitor with good ties to the government

Russian-made, oligarchy-funded propaganda machine

How has hybrid propaganda so easily penetrated Bulgaria’s social space and what does this mean for society and democracy within Bulgaria?

I love the motherland but I hate the state

Bulgarians have a long tradition of mistrusting authority and seeing it as an outside influence, regardless if it is the Ottomans, the Tsar, the Communists or the current democratic regime

How Organized Crime Entered Bulgarian Politics

Vote buying in Bulgaria is a sign of clientelism government

Euro-optimism and Euro-fears

Despite Bulgaria’s overriding enthusiasm for the EU membership, public opinion hostile to the EU has begun to take hold

You give the EU Presidency a bad name

International media focus on Bulgaria during the country’s presidency of the Council of the EU coincides with some ugly scandals that resonate across Europe and tarnish the image of the country which was already far from pristine

Russia’s Economic Grip on the Western Balkans

The Kremlin uses its influence in the region to try to divert it from Euro-Atlantic integration

Bulgaria runs into the eurozone's wall

The European Central Bank seems unenthusiastic about Sofia's intention to apply for admission into the eurozone's training grounds

Which are the Bulgarian economic centers?

In the last decade, the concentration of economic activities in just a few regions has increased

Bulgaria’s Northwest does not want to die

An allegedly secessionist call brings to surface the plight of the poorest region in the EU

Household consumption remains Bulgaria's economic growth driver

Gross domestic product grew by 3.6% y/y in the fourth quarter of 2017, with a negative contribution from net exports and weak investment

Migration and labor market in Bulgaria:

Future tides – model and scenarios

Delivering the digital financial services of tomorrow

Microfinance business model has proven to be successful, so it is time financial service providers to get involved

The Rapid Demise of Bulgartabac

Bulgartabac as a case-study in the effects of Bulgaria's politically entangled privatization process: How Delyan Peevski managed to transform the one-time tobacco giant into a midget despite massive state support.

Prosecutors dig into Bulgarian-operated OneCoin scheme

OneCoin offices were searched at the request of German investigators on suspicion of involvement in a pyramid fraud scheme and money laundering

Why is Kellner buying Bulgaria’s Nova TV?

The richest Czech will combine media and telecoms businesses in Bulgaria and the region, which he may resell in the future

Telenor Bulgaria going Czech

The Norwegian telecommunications group has chosen billionaire Petr Kellner to become the new owner of its mobile business in Bulgaria

Who is who in the Bulgarian media?

Outside of the two major television channels, almost all Bulgarian media companies are operating at a loss or generate very low profits

WHICH ARE THE BULGARIAN MICRO, SMALL AND START-UP IT BUSINESSES?

COMPANIES TARGETING ONLY END USERS ARE A RARE CASE

Who bought Municipal Bank?

The broad political support for the deal coupled with doubts about the identity of the real buyer raises fears that Municipal Bank may suffer the fate of collapsed Corpbank

Pension funds keep investing in related parties

Despite legislation against such practices adopted in 2017 they continue uninterrupted

GRADUS TO LAUNCH AN IPO

THE BIG PUBLIC OFFERING BY THE POULTRY PRODUCER WILL BE THE FIRST IN BULGARIA SINCE THE GLOBAL FINANCIAL CRISIS HIT IN 2009

UBB SELLS RECORD NPL PORTFOLIO TO EOS MATRIX

THE SALE IS THE BIGGEST NPL DEAL SO FAR, AS BULGARIAN BANKS CONTINUE TO CLEAN THEIR BALANCE SHEETS

BSE hopes foreign stocks will help improve liquidity

Sofia bourse on final stretch of setting up BSE International segment

A mysterious investor takes over the largest energy business in Bulgaria

Sale of Bulgarian assets of Czech energy conglomerate CEZ to little known Bulgarian company Inercom raises eyebrows and stirs political tensions

Not so energetic when it comes to energy

Bulgaria is in a difficult position in leading member states in negotiations on the future EU energy policies

Calm only on the surface

Reform effort needs to be sustained

An Ineffective Plug for Bulgaria's Leaking Energy System

A pile of debts and expensive, unfunded preferential tariffs was left not shoveled away by four straight governments.

The Supply Side Deregulation of Bulgaria’s Electricity Market

Will recent measures restore public trust in government regulation?

The words you need to know this month

Treti pol. Samoubit. Majko horo

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Bulgaria's business, economy and politics explained in 128 pages of quality reporting
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