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Bansko Municipal Privatization Investment Fund: Rules for Organization and Activities, by Dr. D. Bobeva and Dr. D. Batchvarov, 1994
The municipal privatization Fund is being established pursuant to the provisions of Article 6, par. 2 (3) of the Law on Privatization and Transformation of State and Municipally Owned Property. According to this section, "the remainder (from the total revenues from the privatization of municipal enterprises, entering a separate account to the respective municipal budget, as set forth in Article 6, par. 2 of the same law) amounting to 88 percent shall be set aside in a special Fund under the discretionary authority of the municipal council, and the funds shall be used in order of priority to cover uncollected debts incurred by municipal enterprises, including payment against loans extended for pending construction projects, as well as for investment purposes. more » |
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Bad Credits: Financial and Institutional Aspects by Christina Vutcheva, 1994
Since the beginning of 1991 Bulgaria has been living through a period of transition from centralized totalitarian control to free market economy. Year 1990 can be said to mark the political liberation of the people with the adoption of the new Constitution. The economic liberalization, however, is a reality yet to be brought to life since private ownership is not prevalent in the economy. The prime aim of the transition is to substitute an absurd and inefficient economic system for a new one to rely on the free initiative, private ownership and competition. more » |
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The Reform in the Bulgarian Banking System, 1994
The process of institutionalization of the banking system in the country was supposed, within a relatively short period of time, to settle several critical groups of questions. Most notably these were: to lay the foundations of the money and foreign exchange market; to secure stability and trust in the financial institutions; to encourage competition between them. more » |
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Legal and Institutional Framework of the Private Sector in Bulgaria, by Valentin Georgiev, December 15, 1994
Following the 1944 socialist revolution, the supreme law of the country became the first socialist Constitution of 1947. It provided the basis for turning Bulgaria into a country with one-party government - that of the Communist Party, and a centralized planned economy. Public property was accorded a central place and significance, with guarantees for its protection and development, while private property was relegated to the background and subject to considerable restrictions. more » |
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