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Changes and Amendements to the Privatization Law Adopted by the National Assembly in June 1994, by Valentin Karabashev
Bulgaria adopted its Privatization Law in 1992 - later than the other Central and Eastern European countries. (Actually, under the provisions of other Bulgarian governmental regulations, some privatization started before the adoption of the Law; however, most enterprises became eligible for privatization beginning in mid - 1992.) The Privatization Law favors capital privatization, i.e. sale, rather than free distribution of state property. This approach was accepted because of the belief that ownership should be transferred to persons with proper management skills and the ability to provide fresh investment. more »
PRIVATIZATION IN BULGARIA: a revolution that never happened, an evolution that is sweeping everything around Ivo St. Kovachev August 1994 Sofia
On February 11, 1994 was signed the sale contract for "GAS CONCRETE" Ltd. - Sofia between the PRIVATIZATION AGENCY, represented by Mrs. Reneta Indjova, Executive Director and the European group for construction materials "YTONG"Ltd., represented by Mr. Diter Goeres, Technical Director. more »
Evaluation of Privatization Results for 1994
Analyses of the results of privatization in Bulgaria typically consider only denationalization of state-owned and municipal enterprises under the provisions of the Transformation and Privatization of State-owned and Municipal Enterprises Law (TPSMEL). more »
Analysis of The Postprivatization Behavior of Enterprises in Bulgaria in The Period 1992-1994
Two years after the adoption of the Privatization Law, even if slowly, privatization in Bulgaria has made considerable progress. It is expressed in the concluded over 328 transactions (of which 170 involving state-owned enterprises, and 158 - municipal ones) and total revenues from privatization exceeding BLV 1,300m. Privatization procedures have been instituted for about 500 enterprises. One of its chief goals, along with the withdrawal of the state from the management of the economy on a microeconomic level, is for the enterprises to be restructured and, once they have acquired real owners, for their activity to be based on the principles of competition and the market. more »
Postprivatization Behavior Of Enterprises In Bulgaria, 1994
The Bulgarian Privatization Law allows the use of extremely wide-ranging privatization techniques, incl. different modes of preferential treatment for the same privatization objects and potential buyers. more »
The Transition As A Catastrophe: From Theory To Policy, 1994
The application of the general equilibrium paradigm to the analysis of the transition from command to market economy is quite natural. By definition this process can be considered as a movement from a shortage, inventory burdened economy, to a balanced and efficient one. more »
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 »
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 »
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 »
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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