The direct losses for Bulgaria from the delayed full accession to the Schengen Area amount to EUR 424 million, caretaker Minister of Economy Petko Nikolov said. He quoted a report by the Economic Research Institute at the Bulgarian Academy of Sciences, commissioned by the Ministry of Economy.
At a discussion in Sofia on the priorities of the Hungarian presidency of the Council of the European Union and their repercussions on the Bulgarian political agenda, Minister Nikolov pointed out that the direct losses should be added to the lost profits of around EUR 275 million. Thus, the potential benefits from removing land border controls exceed EUR 680 million annually. Additionally, the accession to Schengen by land will reduce carbon emissions from traffic. "Transport connectivity will improve, trade and investment flows will increase and travel time and costs will decrease", summarized Minister Nikolov.
“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are the motors which can boost the economy, but the fact there is no regular government is an obstacle..
Bulgargaz has reported record interest in its tender for the supply of LNG to the Alexandroupolis terminal for January and February 2025. All nineteen bidders met the criteria set by the company and have been approved to participate in the next..
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
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