• Moody's raises Bulgaria's sovereign credit rating outlook

      Moody's raises Bulgaria's sovereign credit rating outlook

      Moody's Investors Service raised on 30 August Bulgaria's sovereign credit rating outlook to positive from stable and affirmed the debt grade at 'Baa2', citing as reasons behind the improved outlook strengthening fiscal metrics due to the Bulgarian government's prudent policymaking, and higher growth prospects from ongoing EU integration and Bulgaria's increased competitiveness.

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    • World Bank Group unveils Shared Services Centre in Sofia

      World Bank Group unveils Shared Services Centre in Sofia

      A Shared Services Centre of the World Bank Group was unveiled at the Sofia Tech Park in the Bulgarian capital on Thursday. The grand opening was attended by World Bank Managing Director and World Bank Group Chief Administrative Officer Shaolin Yang, Bulgarian Prime Minister Boyko Borissov, Finance Minister Vladislav Goranov and Sofia Mayor Yordanka Fandakova.

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    • Cabinet approves BGN 2.1bn for F-16s acquisition

      Cabinet approves BGN 2.1bn for F-16s acquisition

      The Council of Ministers approved a bill to amend and supplement the 2019 State Budget Act to accommodate the costs of buying eight F-16 fighter aircraft for the Bulgarian Air Force, the government press service reported. The ministers wrote in their reasoning for the bill that this new type of fighter aircraft is extremely important for Bulgaria's national security and defence and for implementing NATO's collective defence mechanisms and the EU's common defence and security policy.

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    • Supercomputer to be built in Bulgaria by 2020

      Supercomputer to be built in Bulgaria by 2020

      A supercomputer will be built in Bulgaria, said on Monday European Commissioner for Digital Economy and Digital Society Maria Gabriel during a news conference in Sofia after meeting with Prime Minister Boyko Borissov and the Director General of DG CONNECT (Directorate General of Communication, Networks, Content and Technology) at the European Commission (EC), Roberto Viola. This will make Bulgaria one of eight countries with such a European supercomputer, the Commissioner explained.

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    • US formally delivers F-16 offer to Bulgaria

      US formally delivers F-16 offer to Bulgaria

      On Monday, the US Office of Defence Cooperation in Bulgaria formally delivered to the Ministry of Defence a Letter of Offer and Acceptance encompassing a potential agreement on the acquisition by Bulgaria of eight F-16 Block 70 fighter aircraft, weapons systems, associated long-term sustainment and support systems, comprehensive training for pilots and support personnel, the US Embassy in Sofia said in an official statement.

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    • Gas Hub concept discussed in Parliament

      Gas Hub concept discussed in Parliament

      The concept for the Balkan Gas Hub was presented at a forum in Parliament on 4 June. Opening the forum, parliamentary energy committee chair Valentin Nikolov said that the operation of an energy exchange should be regulated by legal amendments to the Energy Act which will be put up for public consultation.

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    • Bulgaria sees F-16 jet deal with US at $1.2b

      Bulgaria sees F-16 jet deal with US at $1.2b

      Bulgaria expects the United States to make an offer soon to sell it eight new F-16 fighter jets for its army at $1.2 billion, the defense ministry said on Tuesday. The US State Department approved the possible sale of eight F-16 aircraft and related equipment at an estimated cost of $1.67 billion, a Pentagon agency said on Monday. European Union and NATO member Bulgaria is looking to replace its aging Soviet-made MiG-29s and improve compliance with NATO standards.

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    • PMs of Bulgaria and Greece break ground on intersystem gas pipeline

      PMs of Bulgaria and Greece break ground on intersystem gas pipeline

      In a ceremony marking the start of construction works on an intersystem gas connection between Bulgaria and Greece, the two countries' prime ministers - Boyko Borissov and Alexis Tsipras, respectively - broke ground on the project and signed a section of the pipeline. “Over the years, we heard a lot of talk about interconnectors and diversification. Well, we quietly did some actual work and today we are launching the project,” said Borissov during the official ceremony. He added that the pipeline allows for real and complete diversification of natural gas supplies.

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