Bulgarias Environment Ministry Plans Ban Over Coastal Construction In Irakli 09/03/2008
Environment and Water Affairs Minister Djevdet Chakurov was working on a temporary ban over construction in Irakli, Bulgaria's wild beach area. Chakurov announced his plans to ban coastal construction during a meeting of the Councils of Ministers, Darik Radio reported. Coastal construction expansion threatened the wild life in the only remaining wild beach area in Bulgaria. On July 6 Nessebar municipality refused to ban construction, allegedly influenced by investors, Darik said. The ministry would investigate into claims that deputy Environment Minister Lyubka Kachakova had interests in continuing coastal construction. The claims were grounded on the fact that Kachakova owned construction plot near Irakli. Chakurov said that he expected a report from Kachakova stating... more

Loan History Matters In Bulgaria 19/03/2008
Entry to the EuropeanUnion has reverberated across a number of sectors. However, it has hada limited impact on a phenomenon that has persisted throughout the pastfew years. Fast expansion in the loans market has seen Bulgaria’s loanexposure reach the levels of the rest of Europe, a recent report said.Yet it also said that Bulgarians have half the income other Europeansdo, which immediately casts doubt on the ability of Bulgarians to repaytheir loans. In addition, banks’ portfolios have become too dependenton loans, the average percentage in commercial banks’ assets being, atabout 70 per cent, past the tentative ceiling of 50 per cent. Thesituation prompted Bulgarian National Bank (BNB) to raise the share ofmandatory reserves commercial banks hold with the central bank fromeight to 12... more

Bulgaria Examines Coastal Construction Problems 14/03/2008
Representatives of the Regional Development Ministry would discuss on Friday Bulgaria’s coastal construction problems. The regional governors of Varna and Bourgas would also take part in the talks, mediapool.bg reported. On the same day, June 30, representatives of the Nessebar municipality would decide whether to permit construction in Irakli, one of the last wild coastal regions in Bulgaria. Ecological organisations already said they would organise protests in Nessebar. They previously carried out a campaign collecting signatures in favour of ban on construction in the last remaining wild beach areas. Mediapool.bg reported in the beginning of the week that various property websites offered apartments for sale in the protected areas, despite the protests of ecological... more