Quite a Simple Answer - Pay More Wages and Pensions!

The less you earn the less tax you pay, so the answer to the problem is quite simply to increase earnings and pensions. Of course it is never as easy as that with competition for jobs in this current world economic climate.

Bulgaria's average taxable income stood at 583.56 leva in June, down by nine leva compared to May and by 15 leva compared to April, the National Statistics Institute (NSI) said.

According to NSI's reports for previous years, the country's taxable income traditionally declines in June, July and August. Statistical data for May and June 2011 also showed a drop in the average salary in the country, mainly due to the growth in the grey economy and the recruitment of low-paid workers in hotels, restaurants, agriculture and other seasonal industries. As a result, employment growth has led to a reduction in the average income of the population.According to Government estimates, the average taxable income should reach 610 leva this year to allow the country meet its insurance revenue targets. Otherwise, the state will seen an additional deficit, which will need to be filled up with the money from all taxpayers, including pensioners.

Source: http://www.sofiaecho.com/2011/08/16/1139592_bulgarias-average-taxable-income-declines-in-june

Gas Prices Up in Bulgaria - Again!

More misery for Bulgarians coming as this increase is implemented. who suffers the most? The old who need heat in the winter the most! Pity there isn't contingency plans for the poorest people.

Bulgaria's state-run gas monopoly Bulgargas plans to propose a 19.98 per cent increase in natural gas prices from October, according to the company's preliminary estimates published on August 12 2011.

In view of the current market environment, Bulgargas will ask that natural gas prices be increased to 668.59 leva a 1000 cu m from 557.22 leva currently.

"The reasons for the spike are the higher prices of alternative oil products in the past months, the appreciation of the Bulgarian currency against the US dollar and the increased gas imports in the fourth quarter of 2011," Bulgargas said.

The company is to submit its proposal to the State Energy and Water Regulatory Commission (SEWRC) on September 10, while the regulator will set the new gas tariffs at the end of September.

Bulgargas boosted its revenue by 235 million leva to 848 million leva in the first half of 2011, while its net profit stood at 17.4 million leva. Its net result, however, was negative, at 3.76 million leva, due to currency differences.

Source: http://www.sofiaecho.com/2011/08/14/1138890_bulgargas-to-seek-20per-cent-increase-in-gas-prices

Holidays Booming in Bulgaria

Good news for overseas holiday makers and Bulgarian business as figures indicate that this year tourist shows the best results in 10 years. Let's hope that the money invested is ploughed back into the industry to improve the resorts even further.

Bulgaria's 2011 summer tourist season will most likely end up being the most successful in terms of revenues in the past ten years, various data indicates.

The Institute for Analysis and Assessment in Tourism, a think-tank, estimated that 6.6 million tourists will have visited the Bulgarian Black Sea by the end of the season in August 2011. This means a growth of the number of tourists by some 14% with respect to their numbers in 2010.

According to estimates of the Varna Tourism Chamber, this summer Bulgaria is seeing 20% more tourists from Russia, as well as smaller increases in the number of tourists from Germany, Romania, Ukraine, Moldova, Poland, and Israel. Only the Polish tourists already account for 15% of all bookings.

There is a predicted a rise in the numbers of tourists from Arab nations such as Iraq, Syria, and Jordan.

Source: http://www.novinite.com/view_news.php?id=131118

Bulgarian Gypsies Sentenced To Jail - Unusual!

I find this quite strange. Most crimes committed by Gypsies go by the board; they never get rounded up and punished. But this particular crime hit a nerve with Bulgarians hence the media coverage and resulting sentences.

Nine Roma cherry thieves have been sentenced to 92 years in prison for the gruesome killing of an orchard farmer two years ago, an appeals court ruled on Friday.

Plamen Momchilov, 42, was beaten to death by the Roma after he tried to stop them from invading the garden he guarded and steal the valuable cherries.

The crime occurred on June 23, 2009 in a village near the town of Kyustendil, Western Bulgaria.

The Roma, who were armed with sticks and shovel handles, have confessed to the crime. They have been until now free, pending the appeal.

The attack triggered an outrage in the region, prompting authorities to impose tough measures and deploy armed police, equipped with night-vision goggles.

Source: http://www.novinite.com/view_news.php?id=131094 

Football Defeat Embarrassing For Bulgaria

One of the most embarrassing defeats in years took place last night when lowly Belarus won a match against the odds. Bulgaria will have to regroup and take stock of the result to find out where they went wrong for the next match.

Belarus national football squad put to shame Bulgaria and its Germancoach Lothar Matthaeus after defeating it 1:0 in a friendly game late on Wednesday.

The team of Belarus was in control of the game during most of the time thanks to the Bulgarians' weak performance and can only feel sorry for missing the chance to score more goals.

Sergey Kislyak scored the only goal from a rebound in the 33rd minute after Vladislav Stoyanov failed to block Dmitri Verkhovtsov's shot from inside the box.

The home side managed to fend off the Bulgarian attacks and hold on to their lead to claim the victory mainly because of the unimaginative and sluggish game of the Bulgarians.

Source: http://www.novinite.com/view_news.php?id=131029 

Harley Davidsons Gather in Bulgaria

Harley Davidson bike owners are widespread in Bulgaria, so it was inevitable that this would happen. Could be an annual event it seems.

The first ever meeting of Bulgarian owners of Harley-Davidson motorcycles has been hosted by Veliko Tarnovo, a tourism center and Bulgaria's medieval capital.
About 150 people in Bulgaria own Harley-Davidson bikes, and half of those were expected to attend the meeting as the organizers sent invitations to Harley-Davidson clubs in Bulgaria and in neighboring countries.
The major driving force of the first Bulgarian Harley-Davidson meeting has beenVeliko Tarnovo businessman Petar Stefanov from the Bed Company Motor Club, Darik Veliko Tarnovo reported.
Stefanov is the owner of a 1600-cubic Harley-Davidson Fatboy that he purchased from the USA 5 years ago, the same model that was show in hit movie Terminator 2.

Source:http://www.novinite.com/view_news.php?id=129859 

Wages Up In Bulgaria - A Drop In The Ocean Really

The wages are so low in Bulgaria that even what looks like a hike is just a drop in the ocean in terms of a real increase. Consider inflation and then it would be considered a drop relatively speaking! Worldwide trend you may say!

The average monthly pay in Bulgaria grew 4.2 per cent in quarterly terms to 699 leva in the second quarter of 2011, the National Statistics Institute (NSI) said on August 9.

The average salary in the country stood at 690 leva in June alone, down from 698 leva in May and 710 leva in April.

Source http://www.sofiaecho.com/2011/08/09/1136516_bulgarias-average-salary-grows-42per-cent-qq-in-q2-2011 

Bulgaria's Petar Stoychev Swims To Victory Again

Petar has been mentioned on this site before and I feel is still very much underrated as an athlete. His achievements are now furthered with this win in Canada witha anice touch dedicating it to his fellow country people.

Bulgaria's top swimmer Petar Stoychev triumphed with an unprecedented victory at the Traversée Internationale du Lac Memphrémagog in Magog, Canada on Sunday.
The Bulgarian managed to overtake the frontrunner Ian Van der Hulst of the Netherlands to win his sensational 11th straight Traversée.
"We managed to achieve what we wanted in Canada. I dedicate my victory to all Bulgarians," said Stoychev.

Source: http://www.novinite.com/view_news.php?id=130920Source

Boyko Borisov Has A Worried Look!

Well Bulgaria's Premier may have a worried look on his face with the current financial crisis escalating, but what he says is a contrast to the look he is giving.

Bulgaria currently counts on money from Brussels for large infrastructure projects, restructuring of the economy and social assistance programs.

Borisov says for Standart that the decisions of the European Commission would not be shaken by the American crisis because the countries in the Eurozone and allEU Member States are applying all possible efforts to keep the EUR stable.

"There is no reason to change the amount of the cohesion funding. What is more important for us is to absorb to the max the resources provided by the EU," the PM is quoted saying.

Economy experts in Bulgaria, however, argue about the impact of the US crisis on the country's financial market which has already suffered several blows. Some forecast a recession while others say Bulgaria's business and the stock exchange would not be affected negatively at all or not to the extent of those in the US and western Europe.

Source http://www.novinite.com/view_news.php?id=130908

Batteries Recharged

I am now geared for more work on this blog very soon. 

Thanks for your patience.