site.btaMedia Review: August 20

DEADLY PARASAILING ACCIDENT

A check by 24 Chasa has shown that no institution in Bulgaria oversees the safety or condition of parachutes used in parasailing after the death of an eight-year-old boy, whose harness failed.

According to current regulations, control only applies to the boat and the qualifications of its operator. The maintenance of the parachute falls entirely with the responsibilities of the attraction’s owner. Control is carried out independently and jointly by the Executive Agency Maritime Administration, the General Directorate Border Police, and the Navy. "Our responsibility is limited only to the boat and the certification of the skipper," Zhivko Petrov, head of the Maritime Administration agency in Burgas told the media outlet.

An attraction owner with extensive experience in Bulgarian resorts also confirmed that the condition of the parachute and associated gear is not subject to any institutional oversight. The only thing that certifies its suitability is a European quality certificate issued by the manufacturer. However, there is no authority in Bulgaria that is authorized to require or verify such a certificate.

The State Agency for Metrological and Technical Surveillance said that they have no legal powers to inspect amusement attractions.

In Bulgaria there are no age restrictions for parasailing, the only requirement is that minors under 18 must be accompanied by an adult, as stated in an ordinance on navigation and border regime in internal marine waters.

Already last year, following another incident, it became clear that parachuting activities are not strictly monitored. At the time, two parachutists who had jumped from a hot air balloon near Blagoevgrad fell and one of them died.

A solution is already being sought to fill the legislative gap in relation to oversight of extreme sports facilities. Since Monday, when the incident involving the 8-year-old boy occurred, the Chair of the Parliamentary Committee on Tourism, Desislav Taskov, has been in contact with Minister of Tourism Miroslav Borshosh and Minister of Sports Ivan Peshev.

“We will definitely establish a form of control and will immediately undertake legislative initiatives to define the authorities responsible for conducting regular inspections,” Taskov told 24 Chasa.

He confirmed that currently these facilities — not only water-based but also various balloons, parachutes, and similar do not fall under the oversight of any specific regulatory body. In reality, the only party held accountable is the operator of the facility.

In a separate development, the Health Ministry is investigating whether the emergency medical service was delayed and whether it lacked resuscitation equipment. Eyewitnesses claimed that after falling into the sea, the child was still alive and died on the beach. According to testimonials, a second resuscitation ambulance arrived 20 minutes late.

“The first ambulance, which was closest to the scene, had a pre-medical team. The ambulance was fully equipped to provide emergency care. The team began resuscitation efforts, which continued until the arrival of the second ambulance with a resuscitation team. The timeline and sequence of all actions taken, as well as coordination between the different units, are being reviewed,” the Health Ministry explained. They assured the public that the results of the investigation will be made public.

On Bulgarian National Television Dr. Blagomir Zdravkov, manager of the Specialized Hospital for Pediatric Diseases and national coordinator for pediatric, emergency, and intensive care medicine explained that a second ambulance was called not because the first one was poorly equipped, but because in such serious cases, it is mandatory to call a second ambulance.

According to him, this is necessary because it is difficult for a single medic to perform prolonged resuscitation on an injured patient alone.

PRICE MONITORING PLATFORM IS YET TO LAUNCH

Sega.bg writes that another institution has criticized the National Statistical Institute (NSI) for refusing to cooperate in publishing data on the retail prices of essential food and non-food products.

The Consumer Protection Commission all but accused the head of the National Statistical Institute of sabotaging the euro adoption process. In a public statement, the commission claimed that the NSI chief has not approved the list of goods whose prices are to be published daily. This, according to the CPC, is the reason it cannot launch the price comparison platform for individual retailers, nor can the retailers themselves begin publishing their daily price lists.

A month earlier, the Commission for Protection of Competition, which has launched a sectoral analysis of the food retail market, also expressed frustration that the NSI is not providing data on the prices at which individual retailers are selling goods.

In response, the NSI said that it has no legal obligation to approve any lists or guidelines. It is entirely within the CPC’s authority to decide which items from the consumer basket should be monitored for pricing.

Recent amendments to the Euro Adoption Act, which took effect on August 8, require the CPC to create and maintain a publicly accessible online portal where it must publish the daily retail prices of goods from the expanded consumer basket, as determined by the commission.

Additionally, retailers with annual revenues over BGN 10 million are obligated to publish daily price lists of the selected goods on their websites by 7:00 a.m. each day.

However, retailers are currently unable to comply with the law, as the CPC has not yet provided them with the list of goods included in the so-called “expanded consumer basket,” which covers essential food and non-food products, beverages, and medicines. The designated portal, kolkostruva.bg, has also not been launched.

However, the CPC has still not finalized the list of products for which retailers are required to report prices daily over the next 12 months.

According to the Commission, the price comparison portal is already complete and guidelines for retailers on what pricing information they must submit have been prepared.

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Speaking on Bulgarian National Television, former economy minister Nikola Stoyanov said that the idea for a state-run chain of stores (People’s Store) is ridiculous.

“It will require quite a lot of spending with highly questionable results. I didn’t expect it to be launched at all. It’s absolutely pointless to create a new player on the market,” he added.

“The market, on one hand, self-regulates. But on the other hand, everyone is pointing fingers. There’s a big difference between wholesale and retail prices. It’s very difficult to determine who is to blame for that. It’s not clear-cut. there isn’t a single entity you can point to,” he said regarding the gap between wholesale and retail prices.

“Large retailers hold a significant market share and a dominant position. Smaller ones align their pricing with them. They work with much lower profit margins because they have no other choice,” Stoyanov explained.

“The measures being attempted don’t lead anywhere. It’s more like pouring fuel on the fire. The Ministry of Agriculture has been stuck for months on the law regarding traceability in the agri-food chain. That work hasn’t led to anything,” he added.

“A poll has shown that people have a lot of trust in the banking system and believe it will handle the euro adoption well. But they don’t have the same trust in institutions like the Commission for Protection of Competition or the Consumer Protection Commission. These institutions have essentially failed to do their jobs.” “Trust in institutions must be earned. Everyone needs to deserve that trust,” Stoyanov concluded.

EU'S PUSH TO CONTROL FOOD PRICES

Capital.bg writes that in 2026, the European Commission is preparing to undertake a key reform of the rules governing the food supply chain within the EU. The initiative is driven by growing concerns over unfair trading practices, particularly pressure placed on producers by large food retail chains. Another important factor is the need for greater resilience in supply chains and ensuring fair market access for all participants.

The reform aims to reduce food trade below production cost and to harmonize packaging and labeling rules, thereby facilitating the free movement of goods within the single market.

The initiative comes against the backdrop of major changes Brussels is initiating in the EU’s Common Agricultural Policy (CAP) for the next budget period. On one hand, these changes will reduce bureaucracy in the distribution of subsidies, especially for small farms. On the other, they will link the disbursement of funds to broader requirements — including the principle of “money in exchange for reforms.”

The business community has shown mixed reactions to the upcoming reform. Many representatives of large retail chains are concerned about increased bureaucracy and potential restrictions on trade flexibility. On the other hand, small and medium-sized enterprises and farmers welcome the initiative as a chance for fairer treatment and greater transparency.

Issues such as rising food prices for end consumers, while at the same time producer margins, especially for agricultural products, remain tight, are a reality in many EU countries. Some EU member states have already implemented similar policies and legislation aimed at regulating the food supply chain, with a core focus on creating equal and fair rules for all participants.

WATER SHORTAGES

24 Chasa writes that MRF-New Beginning leader Delyan Peevski has proposed the establishment of a national water board, including representatives from all institutions and agencies involved in water resource management over the escalating problem of drinking water shortages.

Through such a structure, financial support for all projects can be guaranteed via the national budget, European funding, and attracting capital from the Bulgarian Development Bank.

Peevski has urged National Assembly Chair Nataliya Kiselova to immediately call a meeting of the Parliamentary Committee on Environment and Water. According to the parliament’s website, the meeting is scheduled for Thursday.

Peevski says that currently the most valuable resource water is managed by four ministries, several secondary units, municipalities, and commercial companies, which keep passing the buck and this is one of the reasons why the result is that a critical mass of people in Bulgaria do not have unhindered access to drinking water.

Urgent actions, according to Peevski, include drilling, testing for water quality, finding new water sources, cleaning existing ones, and building supply pipelines to populated areas. Additionally, there must be replacement, repair, and construction of the entire water and sewerage network, as well as irrigation systems for agricultural lands and industrial needs.

Currently, 243,181 people are without regular access to drinking water in the peak of summer. And in just one month since July the number of people under water restrictions increased by an additional 87,029. At the same time, heavy rains are not expected, and more reservoirs will dry up, causing the number to rise further.

Q1 FDI

Sega.bg reports that In the first half of 2025, foreign direct investment (FDI) in Bulgaria amounted to EUR 849 million, which is just 0.8% of GDP, referring to preliminary data from the Bulgarian National Bank (BNB). The figures are subject to revision upward, but for now, the net flow of foreign investment into the country is EUR 31.4 million lower than in the first half of 2024.

This year's FDI volume is primarily driven by reinvested earnings in Bulgarian subsidiaries, a positive sign for their future development. The amount stands at EUR 1.756 billion, compared to EUR 1.236 billion in the same period last year.

Equity capital contributions into the country totaled EUR 232.9 million. These are injections by foreign companies into the capital of Bulgarian businesses and are a strong indicator of long-term investment interest. This figure is nearly identical to last year’s, up by EUR 10 million.

A notable development is that in the first six months of this year, Bulgarian subsidiaries returned EUR 1.141 billion in loans to their parent companies. These funds had previously been provided to the Bulgarian entities and were recorded as direct foreign investments, but have now exited the country. This amount is twice as large as the loan repayments made a year ago.

The largest net positive FDI inflows into Bulgaria for the January–June period came from Italy (EUR 197.3 million), the Netherlands (EUR 190.7 million), and Greece (EUR 167.3 million), according to the BNB.

At the same time, the biggest capital outflows were directed toward Switzerland (EUR 296.6 million) and Luxembourg (EUR 155.9 million) during the first half of the year.

Meanwhile, Bulgarian companies invested EUR 244.3 million abroad between January and June 2025.

INTERVIEW

Interviewed by 24 Chasa, economist Stefan Kostov says that the adoption of the euro will not make the poor poorer or the rich richer. If inequality deepens, it will be the result not of the currency itself but of the lack of active policies for social mobility, an effective labor market, investment in education, regional development and technological adaptation.

Without structural reforms such as improving the efficiency of capital spending, reducing the grey economy, digitalizing the administration and better rule enforcement there will always be a risk that income is distributed unevenly, regardless of the currency in which it is denominated.

However, the eurozone offers a set of macroeconomic mechanisms which — if used wisely — create a predictable environment for long-term growth,

Kostov also argues that the government’s responsibility is not just to tame inflation and reduce deficits, but also to ensure that the labor market, the housing market, and the economic model as a whole remain open, accessible, and motivating for young people, not just as a promise, but in practice.

The economy is not just numbers and indicators; it’s also psychology and a sense of justice.

If we leave an entire generation feeling like passive observers instead of active participants, we risk not only economic stagnation, but also institutional distrust, social apathy, or worse radicalization.

The real estate market continues to move in a direction that systematically excludes entire groups, especially young people, from full participation. The average price of a home in Sofia now exceeds BGN 3,324 per square meter, that’s about 1,700 euros. Meanwhile, maintenance and utility costs are rising by 12 to 18% annually.

The incomes of young professionals are not growing at the same pace, and job insecurity remains high in certain sectors.

When large groups of capable people face persistent obstacles in building a stable life - a home, a family, normal access to a quality environment - frustration is natural.
And when you add the feeling that the game is rigged, that opportunities are being “allocated by others,” you’re no longer just talking about frustration — you're looking at a potential social risk that cannot be ignored.

ROAD SAFETY ENFORCEMENT

According to Sega.bg, the Road Safety Institute has raised concerns that the average speed control system is in the verge of failure, as it has critically low coverage and a lack of real impact. The system was included in the recently adopted amendments to the Road Traffic Act, which were published in early August and are set to take effect at the beginning of September.

As of now, however, only one section has been certified, between the Iliyantsi road junction and Chepintsi in both directions, approximately 10 kilometers each way, along Sofia’s Northern Speed Tangent.

Certification is pending for six more short sections located in different parts of the country: Vakarel – Ihtiman; Tsalapitsa – Radinovo; Sandanski – Damyanitsa; Telish – Dolni Dabnik; Bulgarski Izvor – Sopot; Struyno – Shumen.

The total length of the planned sections is about 120 kilometers, which represents only 0.6% of the entire national road network, which exceeds 20,000 km.

The Road Safety Institute had warned from the outset that the cameras used in the toll system were not designed for speed control but for toll collection. Attempts to reconfigure them to measure average speed are expected to create serious legal issues and lead to limited effectiveness.

Before the system becomes operational, the National Institute of Metrology must assess the quality of the cameras. For this purpose, a series of tests will be conducted, starting with a section of the Northern Speed Tangent in the capital, 10 km in length. On this section, 500 measurements will be carried out to calibrate the equipment and ensure it accurately records speed.

After that, various sections will be referred to the Institute for further verification. They will again perform measurements to determine all the necessary values, after which the speed tracking will begin. 

The toll system in Bulgaria was introduced in 2019 and is a system for charging use of the national paid road network. Its inclusion in speed monitoring raises many concerns among drivers.

People are insisting that road sections with average speed measurement be clearly marked with signs indicating the start and end of the monitoring zone. According to most legal experts, fines based on average speed measurements could easily be overturned in court if the monitored sections are not clearly marked with warning signs. The reason: the principle of "prevention before punishment" has not been upheld, as the driver was not made aware of the control.