Икономиката на България и Европейския съюз: иновации и трансформация : Седемнадесета международна научна конференция на младите учени : Сборник с доклади

Икономиката на България и Европейския съюз: иновации и трансформация : Седемнадесета международна научна конференция на младите учени : Сборник с доклади
The Еconomy of Bulgaria and The European Union: Innovations and Transformation : 17th International Scientific Conference of Young Scientists : Conference Proceedings

Contributor(s): Rumen Brussarski (Editor), Silvia Trifonova (Editor), Emil Asenov (Editor), Grigorii Vazov (Editor), Mario Pečarić (Editor)
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, Public Administration, Public Law, Economic policy, Environmental and Energy policy, EU-Accession / EU-DEvelopment, Public Finances, Fiscal Politics / Budgeting, Accounting - Business Administration, Marketing / Advertising, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: monetary policy; fiscal policy; central banks; Covid-19; pandemic crisis; economic growth; risks; economic stability; monetary regime; Euro zone; international trade; economic integration; green finance; banks; trade credit; economic recovery
Summary/Abstract: The 17th International Scientific Conference of Young Scientists was held on 11 February 2022 online (virtually) in the electronic platform MS Teams due to the Covid-19; pandemic. The conference is financed by a university scientific project for a scientific event under contract No. NID NP-4/2021 at the University of National and World Economy (UNWE), Sofia. The Faculty of Finance and Accounting at the UNWE, Sofia, organizes the conference under the patronage of the Rector of UNWE Prof. Dimitar Dimitrov, Ph.D. and the co-organizers of the conference are the following leading universities: VUZF University, Sofia, Bulgaria, University of Bologna – Alma Mater Studiorum Universita di Bologna-Sede di Rimini, Bologna, Italy, University of Split, Faculty of Economics, Business and Tourism, Split, Croatia, Poltava University of Economics and Trade, Poltava, Ukraine, Lutsk National Technical University, Lutsk, Ukraine, University of Rijeka, Faculty of Economics and Business, Rijeka, Croatia, and Ss. Cyril and Methodius University of Skopje, Skopje, Republic of North Macedonia. The International Conference of Young Scientists brings together doctoral students, post-doctoral students, researchers, lecturers and students to present their scientific research and discuss their views on the most current and significant problems of the economy at the national and international level. The published scientific results of the conference prove the significant potential for the future professional development of young scientists. The format and organization of the conference are aimed at creating an academic atmosphere that favors dialogue and the exchange of ideas both between the different levels of the academic collegium and with prominent specialists from economic practice. The papers are in Bulgarian and English.

Print-ISBN-13: 978-619-7622-31-7
Page Count: 436
Publication Year: 2023
Language: English, Bulgarian

Research Innovations in Post COVID Environments

Research Innovations in Post COVID Environments
(Research Innovations in Post COVID Environments)

Author(s):Sivaram Vemuri
Language:English
Subject(s):Social Sciences, Economy, Sociology, Methodology and research technology, Evaluation research, Environmental interactions, Socio-Economic Research
Page Range:22-26
No. of Pages:5
Keywords:research innovations; systemic innovation capability model; building blocks of innovation success; post-COVID 19
Summary/Abstract:The presentation examines what it takes to transform the research process to find innovative solutions for sustainable living in post-Covid 19 environments. The concern of this presentation is that current research inadequately addresses the multidimensionality of both individual and society's concerns in a post COVID environment. The presentation is an answer to why research thus far has not provided adequate responses to society's challenges for simultaneously delivering health, well being, and economic prosperity at the individual and society levels. The researcher's challenge is to provide a way forward to deliver simultaneously of quality of sustainable living related to individual concern for healthy living and for providing broadly defined social welfare. The three-part presentation comprises (1) identifying the need for transforming the research process, (2) Advocating the use of the Systemic Innovation Capability model for determining the importance of strategic intent and need for leadership to deliver a shift in the research process, and (3) the changes required for transforming the university research processes. The presentation will conclude by advocating for developing initiatives for promoting a research culture for promoting sustainable growth mindsets amongst researchers.

Прилагане на счетоводните стандарти за данъчно облагане

Прилагане на счетоводните стандарти за данъчно облагане
(Application of Accounting Standards for Taxation)

Author(s):Ali Veysel
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, National Economy, Fiscal Politics / Budgeting, Accounting - Business Administration
Page Range:27-36
No. of Pages:10
Keywords:accounting standards; taxation; tax laws
Summary/Abstract:The report examines the application of accounting standards for taxation in Bulgaria. It analyzes the need for accounting information for determining tax rights and obligations. Emphasis is placed on the significance of accounting policies for tax planning. The provisions of the tax laws, which prove the importance of the accounting standards, are systematized. The results of a study for the instructions and the opinions of the National Revenue Agency to establish the references to accounting are presented.

Pension Tracking System Application in Bulgaria

Pension Tracking System Application in Bulgaria
(Pension Tracking System Application in Bulgaria)

Author(s):Stanislav Dimitrov, Elroi Hadad
Language:English
Subject(s):Politics / Political Sciences, Economy, Law, Constitution, Jurisprudence, Civil Society, Public Finances, Socio-Economic Research, EU-Legislation, Labour and Social Security Law
Page Range:37-49
No. of Pages:13
Keywords:national pension tracking system; European tracking service on pensions
Summary/Abstract:Different areas serve as sources of pension protection for the citizens of the European Union. Along with pensions from public systems, capital pensions are playing an increasing role. Financial institutions-providers of pension savings products operate on a different business model. This diversity makes it difficult for the saver to make a decision and is an obstacle to the development of the pension protection. The pension tracking system is seen as a mechanism for achieving a more efficient market for pension products. The report examines the development of this instrument in the European Union. We are looking for answers to questions about the possible application in Bulgaria and other countries. The analysis concludes that the pension tracking system is a necessary set of measures that would be a prerequisite for improving the well-being of the savers.

Федералният резерв и ефективността на паричната политика при пандемията с COVID-19

Федералният резерв и ефективността на паричната политика при пандемията с COVID-19
(The Federal Reserve and the Effectiveness of Monetary Policy in the COVID-19 Pandemic)

Author(s):Gergana Mihaylova-Borisova
Language:Bulgarian
Subject(s):Economy, Supranational / Global Economy, Financial Markets, Socio-Economic Research
Page Range:50-62
No. of Pages:13
Keywords:monetary policy; Federal Reserve; price stability
Summary/Abstract:The health crisis triggered by the spread of COVID-19 around the world, as well as the subsequent economic crisis, poses new challenges for central banks. For more than a decade, they have been dealing with the aftermath of the global financial crisis that emerged in 2008 in the United States by applying a series of unconventional instruments due to the disruption of the monetary policy transmission mechanism of traditional instruments in the crisis processes. These new challenges posed by a new kind of crisis have led banks to adopt a number of new measures and instruments. This is what the Federal Reserve is doing, becoming the first bank to take emergency measures to neutralize the effects of the spread of the virus on the economy. This study presents and analyses the monetary policy undertaken by the Federal Reserve to address the economic crisis caused by the COVID-19 pandemic. The results of the study show that the US central bank was able to cope with the negative effects on the country's economic development due to its timely actions. However, the looming inflation in 2021 raises the question of the normalisation of the central bank's monetary policy.

Управление и оповестяване на ликвидния риск от търговските банки в България

Управление и оповестяване на ликвидния риск от търговските банки в България
(Management and Disclosure of Liquidity Risk by Commercial Banks in Bulgaria)

Author(s):Atanaska Filipova-Slancheva
Language:Bulgarian
Subject(s):Economy, National Economy, Business Economy / Management, Financial Markets
Page Range:63-80
No. of Pages:18
Keywords:banking system; liquidity; liquidity risk; COVID-19
Summary/Abstract:The global financial crisis of 2007 2009 led banking system to lack of capital and liquidity buffers, which had a negative effect on the global economy. Since then, banking regulators have focused on liquidity and liquidity risk management. In 2014 negative events in the Bulgarian banking system once again proved that liquidity management and liquidity risk of banks should be a constant object of analysis and evaluation due to their importance for financial stability. Over the past two years, the liquidity profile and business model of banks have been strongly affected by COVID-19 pandemic. The report aims to present leading criteria and characteristics related to the liquidity management and disclosure, liquidity risk, liquidity buffer in Bulgarian commercial banks. The dynamics of the liquidity ratios (LCR, NSFR) for the period 2018 - 2020 was traced, both for the entire banking system and for five randomly selected banks (from first and second group in terms of assets). The report presents the measures taken to prevent the negative effect of the COVID-19 pandemic on the liquidity of the banking system.

Фискален отзвук на пандемията от COVID-19 в България

Фискален отзвук на пандемията от COVID-19 в България
(Fiscal Response from the Covid-19 Pandemic in Bulgaria)

Author(s):Diyana Metalova, Presiana Nenkova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, National Economy, Fiscal Politics / Budgeting, Socio-Economic Research
Page Range:81-90
No. of Pages:10
Keywords:COVID-19; fiscal policy; state budget; budget balance; fiscal rules
Summary/Abstract:The aim of this study is to present the fiscal response to the crisis with the Covid-19 pandemic in Bulgaria. An analysis of the fiscal measures taken in 2020 and 2021 to limit the negative consequences of the epidemiological crisis has been made and their impact on the main budget indicators has been traced. The effect of the pandemic on the established fiscal rules has also been studied.

Изследване на макроикономическите дисбаланси в страните от Европейския съюз и в частност България чрез разработването на интегрален индикатор за периода 2007-2020 г.

Изследване на макроикономическите дисбаланси в страните от Европейския съюз и в частност България чрез разработването на интегрален индикатор за периода 2007-2020 г.
(Study of Macroeconomic Imbalances in the Countries of the European Union through the Development of an Integrated Indicator for the Period 2007-2020)

Author(s):Atanas Atanassov, Jasmina Saraivanova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, National Economy, Government/Political systems, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting, Socio-Economic Research
Page Range:91-100
No. of Pages:10
Keywords:macroeconomic imbalances; integrated indicator
Summary/Abstract:The report presents the results of the developed integrated indicator for measuring macroeconomic imbalances in the countries of the European Union, including Bulgaria. The methodology of calculation of the integrated indicator and its properties is presented. In addition, macroeconomic imbalances were studied using annual data for each of the 27 countries of the European Union for a period of 14 years, including Bulgaria. The countries of the European Union are ranked according to their macroeconomic imbalances and for Bulgaria the development of these imbalances from 2007 to 2020 has been studied.

Мерки, предприети от групата на Световната банка, за ограничаване на негативното влияние на пандемията от COVID-19 върху световната икономика

Мерки, предприети от групата на Световната банка, за ограничаване на негативното влияние на пандемията от COVID-19 върху световната икономика
(Measures Taken by the World Bank Group to Limit the Negative Impact of the Covid-19 Pandemic on the Global Economy)

Author(s):Aglika Kaneva
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, Welfare systems, Developing nations, Socio-Economic Research
Page Range:101-111
No. of Pages:11
Keywords:World Bank Group; COVID-19 pandemic; COVID-19 Fast-Track Facility; Debt Service Suspension Initiative
Summary/Abstract:In this paper, the World Bank Group's response to the crisis with COVID-19 pandemic has been examined. The impact of the pandemic on key macroeconomic indicators for the world economy has been analyzed. The measures taken by the World Bank to limit the negative impact of the COVID-19 pandemic on the global economy have been indicated. The implementation of the Debt Service Suspension Initiative has been presented.

Изследване на връзката между макроикономическите дисбаланси и растежа на страните в Европейския съюз

Изследване на връзката между макроикономическите дисбаланси и растежа на страните в Европейския съюз
(Study of the Relationship between Macroeconomic Imbalances and the Growth of Member States of the European Union)

Author(s):Atanas Atanassov, Snejanka Bobeva
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Developing nations, Fiscal Politics / Budgeting, Socio-Economic Research
Page Range:112-122
No. of Pages:11
Keywords:macroeconomic imbalances; integrated indicator; economic growth; correlation; cross correlations
Summary/Abstract:The report presents the possibility of measuring the macroeconomic imbalances of the European Union countries by using the so-called integrated indicator. The relationship between the integrated indicator for measuring the macroeconomic imbalances and the economic growth of the European Union countries has been studied, using correlation and cross-correlations coefficients, through which the presence of possible lag effects has been established. For this purpose, annual data for the European Union countries for the period from 2007 to 2020, included, were used. An econometric model has been developed for the impact of macroeconomic imbalances on economic growth.

Тенденции в изменението на външните макроикономически дисбаланси на България от Докладите за механизма за предупреждение

Тенденции в изменението на външните макроикономически дисбаланси на България от Докладите за механизма за предупреждение
(Trends in the Change of the External Macroeconomic Imbalances of Bulgaria from the Alert Mechanism Reports)

Author(s):Silvia Trifonova, Anton Pramatarov
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, National Economy, Supranational / Global Economy, Micro-Economics, EU-Accession / EU-DEvelopment, Socio-Economic Research
Page Range:123-148
No. of Pages:26
Keywords:Macroeconomic Imbalances; Alert Mechanism Reports; Macroeconomic Imbalance Procedure; Bulgaria; Net International Investment Position
Summary/Abstract:The main purpose of the paper is to analyze the main trends in the developments of Bulgaria’s macroeconomic imbalances on the basis of the Alert Mechanism Reports (AMRs) published by the European Commission. Such reports have been published since 201

Перспективи за развитието на приключенски туризъм

Перспективи за развитието на приключенски туризъм
(Possibilities for the Adventure Tourism’s Growth)

Author(s):Mariana Ianeva, Viktoriya Yanakieva
Language:Bulgarian
Subject(s):Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, Tourism
Page Range:149-157
No. of Pages:9
Keywords:adventure tourism; tourism’s growth; tourist destination; good policies; economics of experience; tourist zoning; special products
Summary/Abstract:The relevance of the topic is determined by the specifics of the tourist zoning in Bulgaria and the product’s main and extended specialization of the nine tourist regions, including the adventure tourism as part of the products offered on the tourist market in Bulgaria. The product adventure tourism is associated with the experiences and entertainment’s economics and as such it finds expression in the programs of tour operators, tourist destinations and in particular in the activities of organisations for the management of tourist areas in Bulgaria, known in business and international science literature as Destination Marketing Organisations. The analysis and the application of the good practices of the leaders in the adventure tourism will contribute to its development, which determines the goal set in this scientific report. The subject of the research is the specifics of the adventure tourism in the context of the economics of experiences and the application of leading practices.

Развитие на българската икономика по критериите за членство в еврозоната

Развитие на българската икономика по критериите за членство в еврозоната
(Development of the Bulgarian Economy According to the Euro Area Membership Criteria)

Author(s):Atanas Atanassov, Silvia Trifonova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, National Economy, Business Economy / Management, Economic policy, EU-Accession / EU-DEvelopment, Socio-Economic Research, EU-Legislation
Page Range:158-175
No. of Pages:18
Keywords:Euro area; Bulgaria; membership criteria; forecasting
Summary/Abstract:The purpose of the paper is to investigate the extent to which Bulgaria fulfills the Maastricht criteria for membership in the Euro area. The paper is dedicated to the most discussed and current topic in Bulgarian society, namely the accession of Bulgaria to the Euro аrea. Since January 1, 1999, the euro has been introduced in 19 member states of the European Union (EU). Seven of the nine EU member states called “with a derogation”, including Bulgaria, have not yet adopted the single European currency. The research period in the paper is from 2010 to 2021. Structurally, the paper includes an introduction, three parts, a conclusion and a bibliography. The first part of the paper examines the main aspects related to the accession of Bulgaria to the Euro area, the second part describes the methodology used in the study, and the third part describes the achieved results of the research. Finally, the paper ends with a summary of the main conclusions of the analysis.

Осигуряване на лечебните заведения с антидоти – предизвикателства пред здравния мениджмънт

Осигуряване на лечебните заведения с антидоти – предизвикателства пред здравния мениджмънт
(Providing Medical Institutions with Antidotes – Challenges for Health Management)

Author(s):Lyudmila Neykova-Vasileva, Kuzman Paskalev, Anton Pramatarov
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, Business Economy / Management, Sociology, Welfare systems, Health and medicine and law
Page Range:176-189
No. of Pages:14
Keywords:antidotes; medical institutions, medical products; levels of competence; healthcare management
Summary/Abstract:The purpose of the paper is to examine the features of the model of providing medical institutions with antidotes as medicinal products in Bulgaria. To achieve this goal, the paper first presents a general characterization of emergency toxicological care with antidotes, second, analyzes the model by which antidotes are provided as medicinal products to the medical institutions in our country, and third, examines good clinical practices. Based on the analysis, recommendations are made for improving the create and implemented models for the availability and effectiveness of antidotes.

Жизненият стандарт като критерий за провеждането на успешна икономическа политика в България

Жизненият стандарт като критерий за провеждането на успешна икономическа политика в България
(The Standard of Living as Criteria for Conducting a Successful Economic Policy in Bulgaria)

Author(s):Yana Stoencheva
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Economic policy, Social development, Family and social welfare, Economic development, Socio-Economic Research
Page Range:190-202
No. of Pages:13
Keywords:standard of living; economic development; inequality; poverty
Summary/Abstract:Thе present report has a goal to reveal the territorial differences in the living standards of the population in the districts of the country. To achieve this goal, various indicators are used that reflect the material well-being of the population. The results of the study show that the country has a sustainable economic policy leading to an increase in living standards.

"Сребърната икономика" в Европа и ролята на социалните иновации за подобряване качеството на живот на потребителите на социални услуги

"Сребърната икономика" в Европа и ролята на социалните иновации за подобряване качеството на живот на потребителите на социални услуги
("The Silver Economy" in Europe and the Role of Social Innovation in Improving the Quality Of Life of Social Service Users)

Author(s):Tanya Vazova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, Business Economy / Management, Civil Society, Sociology, Developing nations, Family and social welfare, Welfare services, EU-Accession / EU-DEvelopment, Socio-Economic Research
Page Range:203-213
No. of Pages:11
Keywords:silver economy; innovation; policies; aging population; adults
Summary/Abstract:The growing trend of an aging population in Europe highlights the challenges, innovations and new policies needed to improve the lives of older people. The development and use of the available labour potential of all people of working age is an important task to address demographic challenges. We need to prepare and adapt to reality by accepting people over 60+, and sometimes over 50+, as a resource important to society, not a burden. In the conditions of the modern changes two tendencies in relation to the aging population stand out: the opportunity to be useful both for themselves and for society in the new realities, taking into account their activity and "common sense"; the development of the "silver economy", which includes all economic activities related to production, health, social, educational and other services designed to meet the needs and improve the quality of life of older people. The impact of population aging is presented in this report; the concept of the "silver economy" is considered, including a wide range of activities that meet the needs of older people as consumers and presents good innovative practices developed and implemented in some EU member states.

Изследване на нагласите за плащане на кредити към финансови институции, в контекста на събиране на вземания

Изследване на нагласите за плащане на кредити към финансови институции, в контекста на събиране на вземания
(An Exploration of Attitudes towards Repaying Loans to Financial Institutions in the Context of Debt Collections)

Author(s):Yasen Dimitrov
Language:Bulgarian
Subject(s):Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Evaluation research, Management and complex organizations, Financial Markets, Socio-Economic Research
Page Range:214-226
No. of Pages:13
Keywords:attitudes; decision-making; nudge; debt collection
Summary/Abstract:The report presents a study conducted in 2021 through a survey that aims to reveal some of the attitudes of individuals as users of financial lending. The survey was conducted among 375 respondents living and working in the Republic of Bulgaria. The questions in the survey aim at revealing certain mental attitudes and are asked in a way that can be related to certain decision-making mechanisms presented in the concept of "Nudge". The survey focuses on a few key mindsets that frequently underpin consumer behavior that leads to arrears and increased debt to the lender. The motivation for payment, the factors that influence the choice to stop paying, and the decision-making mechanisms in the presence of several obligations to different creditors are all being investigated. The report gives a brief description of these attitudes and offers practical approaches for influencing them in the collection practices of financial institutions.

Двуфакторна зависимост между доверието на потребителите и бизнес климата с реалния растеж НАБВП в България

Двуфакторна зависимост между доверието на потребителите и бизнес климата с реалния растеж НАБВП в България
(Two-Factor Relationship between Consumer Confidence and Business Climate with Real GDP Growth in Bulgaria)

Author(s):Lachezar Borisov
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, National Economy, Business Economy / Management, Economic policy, Socio-Economic Research
Page Range:227-235
No. of Pages:9
Keywords:GDP; business climate; consumer confidence; early warning systems
Summary/Abstract:The report demonstrates a two-factor relationship between the consumer confidence indicator and the total business climate indicator on the one hand, and real GDP growth by quarter on the other hand, over the past three years. The analysis aims to build on conclusions already drawn by the author on the possibility of using key indicators from business surveys as early warning indicators for economic crises and therefore for rapid decision-making. The economic crisis triggered by the Covid-19 pandemic has acutely raised the need for indicators that provide timely signals of impending fluctuations in economic growth dynamics. Managers' direct assessments of the business climate indicator, and the population's assessments of the consumer confidence indicator, have largely the same dynamics as seasonally-adjusted real GDP growth data on a quarter-on-quarter basis over the previous period. The existence of a direct bivariate relationship between the two indicators from the business surveys and the economic growth also determines the fact that they can serve as a signal of the direction of economic development in the short term. This, in turn, also allows for rapid decision-making on specific economic policies.

Ролята и значението на системите за управленски контрол в съвременния свят

Ролята и значението на системите за управленски контрол в съвременния свят
(The Role and Importance of the Management Control System in the Modern World)

Author(s):Antoaneta Angelova
Language:Bulgarian
Subject(s):Social Sciences, Economy, Business Economy / Management, Sociology, Management and complex organizations, Socio-Economic Research
Page Range:236-244
No. of Pages:9
Keywords:management control systems; control
Summary/Abstract:This paper aims to present the role and importance of management control systems. This paper includes an overview of the characteristics of management control systems and their main advantages. A systematic review of current research on management control systems during the COVID-19 pandemic suggests that the scope of management control systems needs to be expanded and upgraded in the psychological dimension.

Релевантни аспекти на методологията по вътрешен одит в публичния сектор

Релевантни аспекти на методологията по вътрешен одит в публичния сектор
(Relevant Aspects of the Internal Audit Methodology in the Public Sector)

Author(s):Slavcho Zlatkov
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Public Administration, Public Law, Sociology, Methodology and research technology, Public Finances, Fiscal Politics / Budgeting, Accounting - Business Administration
Page Range:245-257
No. of Pages:13
Keywords:internal audit; methodology; public sector
Summary/Abstract:This article is devoted to the specifics of internal audit in the public sector and the application of the current methodology, approved by the Minister of Finance. The main challenges in the routine work of internal auditors, directly related to the application of the internal audit methodology in the public sector, are briefly summarized. The need for the development and application of a specific methodology for internal audit is substantiated, while a sample procedure for performing an audit engagement of public enterprises in which the head of a public sector organization exercises the rights of the state over shares or stocks is presented.

Фактори, формиращи пазара на жилищни имоти в град Пловдив

Фактори, формиращи пазара на жилищни имоти в град Пловдив
(Factors Forming the Residential Property Market in the Town of Plovdiv)

Author(s):Konstantin Bobchev
Language:Bulgarian
Subject(s):Economy, Business Economy / Management, Micro-Economics, Financial Markets, Socio-Economic Research
Page Range:258-270
No. of Pages:13
Keywords:real estate; residential property; factors; prices; sales, rent; interest rates; housing supply
Summary/Abstract:The present report treats in details the factors which have effect on the real estate market in Bulgaria – macro- and microeconomic ones, objective, subjective, legal, political ones. Special attention is paid on the statistic information for the town of Plovdiv regarding the residential properties, prices, deals, interest rates, which determine the status and the perspectives in front of the residential property market in Plovdiv.

Приоритети в управлението на образованието в контекста на проектите на Програма Образование (2021- 2027)

Приоритети в управлението на образованието в контекста на проектите на Програма Образование (2021- 2027)
(Priorities in Education Management in the Context of Projects within Programme Education (2021-2027))

Author(s):Maria Yankova-Mladenova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, Education, Business Economy / Management, Developing nations, State/Government and Education, EU-Accession / EU-DEvelopment
Page Range:271-280
No. of Pages:10
Keywords:EU; projects; education
Summary/Abstract:Programme Education 2021-2027 is a key instrument for addressing major challenges in the education system with a total budget of over 1.9 billion BGN. The programme is co-financed by the European Social Fund+ (ESF+) with nearly 1.539 billion BGN, as well as from the state budget of the Republic of Bulgaria. The article presents the key priorities and management strategies of the programme.

Възможност за трансформация по отношение на финансирането на здравното осигуряване в България

Възможност за трансформация по отношение на финансирането на здравното осигуряване в България
(Opportunity for Transformation Regarding the Financing of Health Insurance in Bulgaria)

Author(s):Teodora Hristova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Sociology, Welfare systems, Health and medicine and law, Socio-Economic Research
Page Range:281-295
No. of Pages:15
Keywords:forecast; public health expenditure; private health expenditures; additional compulsory health insurance; NHIF; GP; outpatient medical care; hospital medical care
Summary/Abstract:The complicated financial situation in healthcare in Bulgaria is determined by demographic and socio-economic factors. The rapid rate of population aging, the decrease in the number of people of working age and the increased levels of migration are one of the reasons for the formation of high costs for compulsory health insurance in the country. Therefore, not enough high revenues from health insurance contributions are accumulated to meet the regularly rising annual health costs. The situation with the spread of Covid-19 infection over the past two years has exacerbated the negative financial effects in the health insurance sector. Transformation is needed through a radical proposal for a health development scenario. The main direction is to lay three pillars of the insurance model.

Eфикасен анализ на данни = ефикасни решения = eфикасен мениджмънт. Ключови инструменти за управленски решения в стохастична бизнес среда

Eфикасен анализ на данни = ефикасни решения = eфикасен мениджмънт. Ключови инструменти за управленски решения в стохастична бизнес среда
(Efficient Data Analysis = Efficient Decisions = Efficient Management. Key Instruments for Managerial Decisions in Stochastic Business Environment)

Author(s):Rosen Todorov
Language:Bulgarian
Subject(s):Economy, National Economy, Business Economy / Management
Page Range:296-306
No. of Pages:11
Keywords:Innovation; management; data analysis; business intelligence
Summary/Abstract:The current macroeconomic environment in which companies are fighting for a competitive advantage are significantly complicated and highly dynamic. Most of the processes develop stochastically and nonlinearly, which makes them difficult to predict. On the one hand, managers must skillfully and foresightedly know the approved management tools. On the other hand, managers must constantly integrate in their practice new, more sophisticated and specialized tools for making efficient and adequate decisions in an environment of uncertainty and risk. This part of the management of companies often remains unknown, distant and misunderstood by managers. This unfavorable trend is one of the main prerequisites for the loss of competitiveness due to poor adaptation of companies for transformation, digitalization and innovation. The report will attempt to systematize and explain important for the modern management specialized tools for business decision making and innovation.

Пенсионните фондове във фокуса на зелените инвестиции

Пенсионните фондове във фокуса на зелените инвестиции
(Pension Funds in the Focus of Green Investments)

Author(s):Milena Beneva
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Energy and Environmental Studies, Economic policy, Environmental and Energy policy, EU-Legislation
Page Range:307-316
No. of Pages:10
Keywords:green investments; sustainable and responsible investment policy; voluntary pension funds
Summary/Abstract:Implementation of environmental, social and governance factors into the investment process is often defined as the "new normal" or as a "point of no returns". Europe is a leading region in sustainable and responsible investing and the extremely dynamic EU legislation in this area has the potential to strengthen the leadership role of the continent. Many pension funds incorporate extrafinancial factors into their investment process, convinced that they generate benefits for their members and beneficiaries, as well as for nature. This paper aims to analyze the investment policy of voluntary pension funds in Bulgaria in the context of a sustainable and responsible approach.

Изкуствените невронни мрежи като похват за допълване на иконометричния инструментариум

Изкуствените невронни мрежи като похват за допълване на иконометричния инструментариум
(Artificial Neural Networks as a Technique for Supplementing the Econometric Toolkit)

Author(s):Petar Ivanov
Language:Bulgarian
Subject(s):Economy, ICT Information and Communications Technologies
Page Range:317-325
No. of Pages:9
Keywords:artificial neural networks; machine learning
Summary/Abstract:Introduction to the nature of machine learning with a focus on artificial neural networks. Description of the structure, elements and mechanism of their functioning. Tracking the science progress based on them. Figuring out the benefits of their application as an econometric method. Clarifying the role of specific hyperparameters of theirs. Presenting a sample algorithm for application of artificial neural networks with stages ranging from data science to building an approximating model and its tuning.

Ефективността на ЕНМ според програмата за оценка на финансовия сектор

Ефективността на ЕНМ според програмата за оценка на финансовия сектор
(Effectiveness of the SSM According To the Financial Stability Assessment Programme)

Author(s):Milena Pesheva
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, EU-Accession / EU-DEvelopment, Financial Markets, Socio-Economic Research
Page Range:326-334
No. of Pages:9
Keywords:effectiveness; core principles for effective banking supervision; SSM
Summary/Abstract:The current paper presents the criteria, which represent the basis of the Financial Stability Assessment Programme, conducted by the International Monetary Fund (IMF). Additionally, the paper analyses the assessment for the Single Supervisory Mechanism (SSM) and the main recommendations of the IMF. The goal of the paper is to present an objective evaluation of the development of banking supervision in the Euroarea, as well as the necessary amendments to increase the effectiveness of the SSM.

Паричният режим на Китай по пътя на трансформацията

Паричният режим на Китай по пътя на трансформацията
(China’s Monetary Regime on Course for Transformation)

Author(s):Kamellia Penkova
Language:Bulgarian
Subject(s):Economy, National Economy, Supranational / Global Economy, Public Finances, Socio-Economic Research
Page Range:335-341
No. of Pages:7
Keywords:monetary policy regime; inflation targeting; People’s Bank of China
Summary/Abstract:The specific monetary regime is highly important to the overall monetary policy structure. In terms of changing economic conditions a change in the monetary regime could be necessary. This paper aims to analyze the monetary regime in the People's Republic of China and to determine whether there is a transformation in its nature. For this purpose, a historical review of the indicators targeted by the Central Bank of China is made, the de jure monetary regime is determined. Furthermore, are stated conditions that a monetary policy regime should fulfill to be called an inflation targeting. Finally, an analysis was made to establish whether the de facto monetary regime is inflation targeting.

Фасилити решения при ваксинационния процес във Военномедицинска академия – София

Фасилити решения при ваксинационния процес във Военномедицинска академия – София
(Facilities Solutions in the Vaccination Process in the Military Medical Academy – Sofia)

Author(s):Anton Pramatarov, Georgi Kukushev, Silvia Trifonova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, Business Economy / Management, Sociology, Welfare systems, Methodology and research technology, Welfare services, Socio-Economic Research
Page Range:342-364
No. of Pages:23
Keywords:COVID-19; Military Medical Academy – Sofia; National Vaccination Plan; vaccination process; COVID-19 vaccines
Summary/Abstract:At the end of 2020, in Bulgaria the vaccination process against COVID-19 started, according to the National Vaccination Plan approved by the Minister of Health. As of February 10, 2022, more than 2 million people have been fully vaccinated with the approved vaccines in Bulgaria – Moderna, BioNTech/Pfizer, Janssen, Astra Zeneka. The aim of this study is to analyze the measures and solutions in terms of the theory of Facility Management, which are designed to help both the good management and proper reconstruction of the space in the central building of the Military Medical Academy – General Hospital for Active Treatment, Sofia, as well as for the organization and provision of the vaccination process of the population. To achieve this goal, an analysis of the key aspects of the National Vaccination Plan in the Republic of Bulgaria, the development and use of safe and effective vaccines against COVID-19, the vaccination campaign against coronavirus infection in Bulgaria and the results of the vaccination process. The number of vaccinated persons with completed vaccination course against COVID-19 in Bulgaria is monitored.

Ролята на електронните интерфейси за развитието на търговската дейност на територията на Европейския съюз

Ролята на електронните интерфейси за развитието на търговската дейност на територията на Европейския съюз
(The Role of Electronic Interfaces for the Development of Commercial Activity on the Territory of the European Union)

Author(s):Veselina Popovska
Language:Bulgarian
Subject(s):Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, Supranational / Global Economy, Business Economy / Management, International relations/trade, Financial Markets, ICT Information and Communications Technologies, EU-Legislation
Page Range:365-373
No. of Pages:9
Keywords:online business; electronic interfaces; taxation
Summary/Abstract:In 2021, we have witnessed significant changes in European law regarding the treatment of cross-border transactions from companies to consumers within the country. The main reason for this is the widespread multinational business, which is gaining more and more popularity and is developing even more dynamically. Pursuing its national interests, the European state seeks stricter regulation of trade in your territory, as this has a direct impact on the functioning of its economy. Member States of the Union shall be subject to value added tax in respect to uniform rules governing the treatment of transactions. They enjoy, on the one hand, the obligation to acquire VAT on all goods admitted to trading on European markets and, on the other hand, the calculation of tax revenues to the budget of that country in which the goods are used. As part of the acceleration of international transactions is e-commerce, based on the global operation of multiple sites, portals and platforms – the so-called electronic interfaces, harmonized with the Bulgarian tax laws, which allow the implementation of the relations between the participants from different countries. A key role for business, however, is played by several major web platforms, which are visited by millions of users and create a favorable environment for starting a business. Amazon, Ebay and Etsy stand out with the most significant influence among them. New changes have been introduced in tax legislation and new obligations for those who manage electronic interfaces, which in determining transactions "facilitate" the delivery of goods and are considered suppliers of these goods, although they import only intermediaries between sellers and buyers. The conditions under which the obligations are fulfilled, which are imperatively presented in the VAT Act and the Regulation on the Implementation of the Low Union 2019/2026. They are related to the application of new special VAT regimes, which are characterized by complete documentation of all deliveries.

Процесите по дигитализация в местната администрация: актуални аспекти

Процесите по дигитализация в местната администрация: актуални аспекти
(Processes of Digitalization in Local Administration: Current Aspect)

Author(s):Mariya Kazakova
Language:Bulgarian
Subject(s):Politics / Political Sciences, Economy, Business Economy / Management, Micro-Economics, Governance, Public Administration, ICT Information and Communications Technologies, Socio-Economic Research
Page Range:374-383
No. of Pages:10
Keywords:digitalization local administration; ICT
Summary/Abstract:In light of accelerated development of information and communication technologies (ICT) and the ever-changing internet environment, one of the main challenges for local public organizations is the digitalization of their operations. Regardless of the type of local public services, they are provided by local public organizations in a multi-tasking framework under specific regulations of both strategic and operational nature. This is done not only in terms of digitization of services, but also in connection with the functional purpose and management of local resources – human, financial, etc. This report examines some key aspects of the digitalization processes directly related to the increase of the efficiency of local government operations.In light of accelerated development of information and communication technologies (ICT) and the ever-changing internet environment, one of the main challenges for local public organizations is the digitalization of their operations. Regardless of the type of local public services, they are provided by local public organizations in a multi-tasking framework under specific regulations of both strategic and operational nature. This is done not only in terms of digitization of services, but also in connection with the functional purpose and management of local resources – human, financial, etc. This report examines some key aspects of the digitalization processes directly related to the increase of the efficiency of local government operations.

Инфлационен натиск в България: актуални аспекти

Инфлационен натиск в България: актуални аспекти
(Inflationary Pressure in Bulgaria: Current Aspects)

Author(s):Nikolay Velichkov
Language:Bulgarian
Subject(s):Economy, National Economy, Business Economy / Management
Page Range:384-393
No. of Pages:10
Keywords:Inflation; Russia-Ukraine conflict
Summary/Abstract:The paper looks at the price dynamics in Bulgaria, with the emphasis placed on the proinflationary influence of the Russia-Ukraine conflict. The empirical analysis of the main proinflationary factors shows that the current rise in prices may turn out to be a longer process over time with a possibility of intensification. The development of the military conflict, as well as the sanctions against Russia and its response, will determine the course of the inflationary process in our country.

Ликвидност на банките в Република България през периода от 2007 г. До 2021 г.

Ликвидност на банките в Република България през периода от 2007 г. До 2021 г.
(Bank Liquidity in the Republic of Bulgaria during the Period from 2007 to 2021)

Author(s):Dimitar Doychinov
Language:Bulgarian
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Financial Markets
Page Range:394-415
No. of Pages:22
Keywords:bank liquidity; Bulgaria; COVID-19 pandemic
Summary/Abstract:The paper is dedicated to the liquidity of banks in the Republic of Bulgaria in the period from 2007 to the end of 2021. This period covers the years of the global financial crisis, the period of post-crisis economic recovery and the period of COVID-19 pandemic. The purpose of the paper is to visualize the fluctuations in the liquidity of the banking system due to the dynamics of the financial markets and the stress in the system caused by the unforeseen circumstances. The main definitions of liquidity and the main regulations and documents concerning bank liquidity are presented. Based on the information from the reports of the Bulgarian National Bank (BNB), findings and conclusions have been made about the state of the Bulgarian banking system from 2007 to the end of 2021. The dynamics of the main balance indicators of the Bulgarian banking system are graphically presented.

Разпределение на дохода, икономически растеж и неравенство в България

Разпределение на дохода, икономически растеж и неравенство в България
(Income Distribution, Economic Growth and Inequality in Bulgaria)

Author(s):Nikolay Velichkov
Language:Bulgarian
Subject(s):Economy, National Economy, Business Economy / Management, Socio-Economic Research
Page Range:416-425
No. of Pages:10
Keywords:income distribution; economic growth; inequality
Summary/Abstract:This paper studies the functional income distribution in Bulgaria and its relationship with the economic growth and inequality. The empirical results show that recently there has been a higher share of labor income in GDP than capital income, and a tendency to increase this difference in favor of labor income. This leads to increased structural convergence with the euro area in terms of functional income distribution, but has an adverse effect on economic growth. Moreover, the dynamics in the relative importance of the two factors of production corresponds to an increase in inequality, which gives some indication of the relationship between functional and personal income distribution.

Хеджиране на лихвения риск като важна стратегия при реализирането на успешни инвестиционни проекти

Хеджиране на лихвения риск като важна стратегия при реализирането на успешни инвестиционни проекти
(Interest Rate Risk Hedging as an Important Strategy in the Implementation of Successful Investment Projects)

Author(s):Kalina Yankova
Language:Bulgarian
Subject(s):Economy, Business Economy / Management, Micro-Economics, Financial Markets
Page Range:426-436
No. of Pages:11
Keywords:hedging; interest rate risk; investment projects
Summary/Abstract:A large group of financial derivatives is developing in response to the high volatility of interbank interest rates, which has a direct impact on all economies in the world. Apart from speculation, interest rate derivatives are used to partially or completely neutralize the movement of interest rates on long-term investment loans. Interest rate risk management tools are still rarely used by Bulgarian companies due to their poor knowledge, despite the relative simplicity of their nature and seamless access to them. The present study aims to make a comparative analysis of the most commonly used hedging instruments and strategies, namely interest rate options and interest rate swaps. Both instruments are illustrated with concrete examples, the calculations being made using the Bloomberg platform, which is mainly used in the interbank market when concluding interest rate derivative transactions. To illustrate the effectiveness of building interest rate protection, the same investment loan was hedged with an interest rate swap (full protection), as well as by building different protection strategies with interest rate options (full and partial protection). The examples will also be used to compare the costs that the investor has to incur for the purchase of different financial instruments depending on the washed strategy, including the requirements for initial and maintenance margin. The results of the study show that the use of interest rate derivatives is both easy and affordable in Bulgaria. Specific examples provide clarity on the steps and conditions for purchasing these financial instruments.

Back to list