News

Bulgaria reallocates EUR 87 million originally planned for the Russe-Veliko Tarnovo motorway to the Europe motorway project. Additionally, approximately EUR 500 million intended for railway modernization to North Macedonia's border will now support the Sofia-Burgas rail route, as previous projects faced delays threatening EU funding.

Romanian far-right populist Calin Georgescu's candidacy for the May presidential elections has been cancelled, sparking clashes between his supporters and the gendarmerie in Bucharest. Meanwhile, tensions are rising in Serbia ahead of a major anti-corruption demonstration expected to draw tens of thousands of protesters to Belgrade on March 15th.

Bulgaria's Confederation of Independent Trade Unions calls for an additional €100 million to urgently boost public sector salaries, especially in underfunded institutions. They argue the proposed 5% increase falls short of the originally promised 10%, significantly impacting employee retention and recruitment efforts.

Bulgarian Ambassador to the US, Georgi Panayotov, and EnduroSat CEO, Raycho Raychev, met with experts from the US House Science Committee to discuss the company's innovative satellite technologies. EnduroSat, a leading European aerospace company with a strong US presence, impressed the committee with its work on the Balkan-1 satellite, which transmits data for the EU's Copernicus program.

The UK economy unexpectedly contracted by 0.1% in January, driven by a sharp decline in the production sector and a slowdown in construction activity. The services sector managed a modest rise, but the overall decline underscores the challenging economic environment facing Chancellor Rachel Reeves as she prepares her spring statement.