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In this paper the degree of real convergence of the Bulgarian economy with the European economy has been assessed by analyzing some of the indicators of real convergence such as price level, GDP per capita and labour productivity. Major economic indicators for Bulgaria in the period 2017 – 2022 have been examined.
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The purpose of the report is to provide an overview and analysis of the current legislation in the field of the supplementary insurance for unemployment and/or professional qualification. We have focused on the more important aspects of the organization and management of this type of insurance having analyzed the legislation of the voluntary form under which it could only exist at the current stage. We have also tried to find the possible reasons for the dead point in which this activity has been frozen having in mind the lack of companies able to practically organize the development of the voluntary unemployment insurance model.
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The focus of this report is to uncover and trace Chile’s experience in building and refining a fully funded unemployment insurance model. The review provided an insight into the architecture of the unemployment insurance system based on individual savings accounts and how it is harmonized with the unemployment solidarity fund. Emphasis has been added on the organizational structure and changes that have taken place over the years in order the insurance model to be improved.
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The presented work examines the changes and the effect of foreign direct investment during the period under review. The change in the indicators, the conditions of work, the discovery of new opportunities for activity in Bulgaria.
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This report presents the results of an empirical study of the results achieved in the discipline "Financial Accounting" by students in "Accounting" and "Finance", full-time, educational and qualification degree of Bachelor at the UNWE for the academic years 2020/2021, 2021/2022 and 2022/2023. An analysis of the structure and distribution of the results of the regular and resit examination sessions in the discipline was carried out. The dynamics of the success rate of students from both specialties during the period under review are studied. Conclusions are drawn about the success rate of students in the conditions of the COVID and post COVID pandemic and alternative opportunities for increasing student performance are outlined. Object of the study are students from the specialities “Accounting” and “Finance”, educational and qualification degree Bachelor, full-time education, students at the UNWE – Sofia. The subject of the study covers the taught discipline "Financial Accounting" during a period of three academic years: 2020/2021, 2021/2022, 2022/2023. The aim of the study is to examine the success rate of students in the discipline "Financial Accounting" through analysis of the results achieved and on this basis to draw conclusions and generalizations about the current state and approaches to improving the results. Information assurance: the empirical research was carried out on the population of units, i.e. all students from the specialities "Accounting" and " Finance", educational and qualification degree of Bachelor were covered, using primary information from the protocols of regular and resit examination sessions.
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The report “Analysis of interest in the performances of the Bulgarian state theaters in the period 2018-2022” is a kind of analysis of demand and supply in the field of performing arts. The selected period covers the time before the Covid-19 pandemic and after, aiming to interpret the changes that occurred as a result of these events. The report analyzes live performance attendance data by gender, age, education, city, employment status, and more. The data on the number of theaters by type (dramatic, dramatic-puppet, musical), by form of ownership (state, municipal, private) are commented on. The data on average number of visits to one theater, average number of visits to one performance, number of new performances, number of tours are analyzed. The data on the revenues realized by the cultural institutes are also analysed. All data used are from the National Statistical Institute.
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The report looks at several EU start-ups that have expanded beyond its markets. Examples of companies founded before the founding of the EU are presented. The ways in which they organized their activities in a historical aspect are presented. The stability of the European market guarantees the emergence of new companies that have created new technologies and trends in the public life of the population. The report examines the benefits of building these companies in the diverse EU market and how important unity and closeness in the culture of a group of individuals is for successful market positioning and company development. A comparison is made of events when entering a foreign market and how successful or not it was compared to the establishment of the company in the EU and the initial positioning in the market. The political, legal, cultural and financial risk of positioning in the foreign market are considered. The report analyzes the strategy for entering the foreign market and the consequences of the influence of the foreign culture on the company. A comparison is made of companies founded before the founding of the EU and their difficulties in positioning themselves in the market. It also takes into account the fact that 30 years have passed since the founding of the EU and the world is technologically different. The development examines the challenges and barriers faced by companies in the period of their construction before entering a foreign market. The possibilities for financing newly founded companies, the risks and competitive advantages of the presence on the European market are examined. In conclusion, a comparison is made of the examined sites and recommendations are made regarding the political, financial and legal frameworks for supporting newly founded small companies to enter a foreign market. An opinion is expressed about possible steps to prepare entrepreneurs for entering a foreign market.
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The changes to IAS/IFRS that came into effect on 01.01.2023 and that entities need to reflect are fundamental to understanding financial statements. Improving the communication of financial reporting has been a central theme of the IASB's standard-setting and improvement work in recent years. In this paper I aim to clarify these amendments so that their practical application becomes clearer. The objective of the study is to assist preparers in deciding what accounting policy information to disclose in financial statements. An attempt is made to provide clarity on the main points in the changes that have occurred in the standards and requirements of IFRS.
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The public interest entities (PIEs) play a pivotal role in the EU's financial and economic landscape. In light of the newly adopted Directive 2022/2464 a more detailed analysis of the methods adopted by EU member states for the classification of PIEs is needed. This report compares the legal framework of the EU member states and analyzes the classification of PIEs.
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Effectively addressing catastrophic risks stemming from natural hazards holds significant societal importance, highlighting the interconnection between public finance and insurance. Within the context of Bulgaria's susceptibility to flood-related risks, this study evaluates the existing model designed for mitigating post-event damages. The effectiveness of this model is examined through the case study of the 2022 Karlovo area flood. In proposing methods for enhanced risk management, three distinct tools are introduced: the promotion of voluntary insurance, the allocation of a specific budget line item for natural hazard damages, and the establishment of a catastrophic insurance pool. To assess the viability of these approaches, a comparative analysis is conducted, drawing parallels with the catastrophic insurance pool in Romania.
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Following the popularization and rise of Artificial Intelligence (AI) since the previous year via its most well-known manifestation via ChatGPT, a growing number of companies in Europe and around the world have started to heavily utilize AI in their daily operations. The impact of its penetration and deployment has led to changes in the job market. Now the public opinion has changed and many workers have started to worry about their jobs. In this article, we briefly examine the impact of artificial intelligence on the labor market, considering the current state and future trends. This study is a literature review and explores the impact of AI in the European Union, but also on a global scale. The limitations are related to the fact that it is not a comprehensive research and only takes into account a few of the main factors related to the rise of AI. From the available information, general conclusions will be drawn about the impact of AI on the labor market and the world economy as a whole. We will also try to answer the questions of whether AI has reached levels of replacing human labor entirely, and whether there is also a positive side to this - for example by creating opportunities for new jobs that are related to operating and maintaining AI. This is achieved through analysis and synthesis of empirical information, analysis of various publications, graphs and statistical data from reputable sources. The results suggest that the usage of AI has triggered changes not only in the labor market, but also in the economy as a whole that will shape economic processes not only in the upcoming few years, but for decades to come.
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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