21.02.2024
PART-TIME MINIMUM WAGE
Undoubtedly, the controversy over the size of the minimum wage raises the question of whether the lowest paid workers have really felt a tangible increase in their living standards over the past decade?
Should the increase in the minimum wage be counted as a kind of merit of the trade union organizations and are the complaints of the employers' organizations that their views on the amounts are not taken into account, or at least not sufficiently?
Where economic interests are conflicting, it is difficult to reach a complete understanding. Employers' organizations assess the increase of the minimum wage as an unbearable burden for business and insist on more transparent rules for determining its amount. According to them, the increase of the minimum wage does not correspond to the growth of the gross domestic product, it puts the border between the minimum and the average unreasonably close wages for the country and may force a number of, mostly small and medium enterprises, to start layoffs.
It is logical that if an employer cannot afford to pay the increased minimum wage to its workers, it will look for mechanisms to reduce its labor costs by getting rid of some of its employees.
As counterarguments in support of increasing the minimum wage, the need to guarantee a decent wage and increase the purchasing power of the population is usually pointed out. The step-by-step increase in the minimum wage should also guarantee a sustainable increase in the standard of living.
Supporters of the idea of a faster increase in the minimum wage, led by trade unions, remind that the minimum wage is not received in the so-called "net amount", but deductions are made from it for taxes and insurance.
If the clearest example of a worker or an employee without previous work experience in the same or similar position is taken as an illustration (i.e. without additional labor remuneration for acquired work experience and professional experience): from BGN 780 minimum wage close to BGN 175 will be deductions at the expense of the employee. In other words, this income really only guarantees a minimum standard of living for physical survival. After all, not only is the minimum wage as an absolute amount insufficient to cover the needs of individuals, but also the tax and insurance burden is high, which further aggravates their situation.
Despite all the disputes, the law still allows the negotiation of wages below the national minimum wage in some cases, such as part-time work. It may be agreed upon between the parties at the time of the employment relationship or subsequently, with an additional agreement. Part-time work can also be introduced unilaterally by the employer as a specific "anti-crisis" measure when reducing the volume of work for a period of up to three months in a calendar year.
The lower limit of remuneration will be determined proportionally to the minimum wage for full-time work, for example, when working 4 hours - 1/2 of the minimum wage, etc.
Contracts for additional work and for work on certain days of the month usually do not constitute a main source of income for the worker or employee. The shorter duration of their work is also reflected in a lower minimum wage.
A special case is the contract for on-the-job training, under which the employer undertakes to train the worker or employee in the process of work in a certain profession or specialty, and the worker or employee - to master it. During the training period, the worker or employee receives labor remuneration according to the work performed, but not less than 90 percent of the minimum wage established for the country. The social justification of this legislative decision is in the lack of experience of the person doing the work, which usually makes his work less valuable from the employer's point of view.
Reference:
Art. 110, 111, 114, 138 and 138a 230 of the Labor Code
21.02.2024
THIS IS WHAT KIND OF STAFF IS NEEDED IN MONTANА REGION
The Employment Agency announced all vacancies in the Montana region.
If you have lost your job or want to change your current job, you may consider the suggestions below:
Managing Directors and Executive Directors 1 Montana
Sellers in stores 2 Montana
Applied specialists in medicine and pharmacy 3 Montana
Applied specialists in medicine and pharmacy 1 Varshets
Sellers in shops BGN 1,200 1 Montana
Electrical installation and repair workers 1 Montana
Other skilled workers and related craftsmen 1 Montana
Mobile Equipment Operators 3 Montana
Specialists in social sciences and religious specialists 1 Lom
Other unskilled workers BGN 1,000 1 Montana
Doctors 1 Montana
Truck and bus drivers 1 Lom
Workers in agriculture, forestry and fisheries 4 Berkovitsa
Doctors 2 Montana
Sellers in shops 2 Lom
Other personnel engaged in trade 1 Montana
Sellers in stores 2 Montana
Clothing and related workers 5 Montana
Other unskilled workers 2 Lom
Machine operators in textile, sewing and leather production 3 Lom
Sellers in shops 1 Lom
Machine operators in textile, sewing and leather production 2 Lom
Clothing production workers and related workers 17 Berkovitsa
Applied specialists with control functions in the mining and processing industry and construction 1 Montana
Clothing production workers and related workers 9 Berkovitsa
Workers in the processing industry 4 Montana
Blacksmiths, tool makers and related 1 Berkovitsa
Truck and bus drivers 1 Montana
Operators of mobile equipment 2 Lom
Machine mechanics and fitters 1 Montana
Personnel providing health care for people 1 Boychinovtsi
Clothing and related workers 1 Montana
Other medical and health professionals 1 Varshets
Applied specialists in the physical and technical sciences 1 Montana
Applied specialists in the field of arts, culture and cooking 2 Montana
Workers in the processing industry 3 Montana
Artisans 1 Montana
Personnel providing health care for people 1 Berkovitsa
Machine operators in chemical production and the production of photographic products 8 Montana
Waiters and bartenders 1 Lom
Financial specialists 1 Montana
Blacksmiths, tool makers and related 2 Montana
Waiters and bartenders 1 Montana
Other qualified workers and related craftsmen BGN 1,000 1 Montana
Sellers in shops BGN 1,500 1 Montana
Clothing and related workers 2 Montana
Clothing production workers and related workers 12 Berkovitsa
Blacksmiths, tool makers and their relatives BGN 1000 2 Montana
Clothing and related workers 3 Montana
Chefs 1 Montana
Cooks 1 Boychinovtsi
Doctors 1 Montana
Sellers in shops BGN 900 1 Montana
Truck and bus drivers 3 Montana
Housekeepers and butlers 1 Boychinovtsi
Clothing and related workers 5 Montana
Workers in the processing industry 1 Lom
Drivers of heavy goods vehicles and buses 1 Boychinovtsi
Machine operators in the food industry 2 Montana
Doctors 2 Montana
Car and motorcycle drivers 1 Montana
Truck and bus drivers 2 Montana
Food production workers and related workers BGN 1,200 2 Montana
Doctors 1 Montana
Doctors 2 Montana
Sellers in shops BGN 1000 2 Montana
Cashiers and ticket sellers BGN 1000 1 Montana
Vehicle washers, window washers, washers and related 1 Montana
Specialists in social sciences and religious specialists 1 Lom
Blacksmiths, tool makers and their relatives BGN 1000 3 Montana
Mobile Equipment Operators 1 Montana
Clothing production workers and related workers 6 Berkovitsa
Clothing production workers and related workers 10 Berkovitsa
Waiters and bartenders 2 Montana
20.02.2024
ELEVEN HAS LAUNCHED A SECOND EDITION OF ITS EARLY-STAGE ENTREPRENEUR PROGRAM
Eleven Ventures, the Bulgarian equity fund supporting early-stage technology companies in Southeast Europe, announces the launch of the second edition of Eleven Alpha. The fund team and the selected entrepreneurs will work together on an individual plan for the development of the startup with one basic goal - reaching "product-market fit". Founders will gain access to the Eleven team's years of experience building startups, a wide network of contacts, and a community of like-minded people.
As part of the program, the fund will once again invest €300,000 for a 10% stake in each approved company, which comes with a pre-investment contract (publicly available and viewable by anyone), and just two months from the time of application to closing the deal.
The application process is simple and fast, allowing entrepreneurs to focus on growing their business. It consists of a short application form (a pitch deck is required), a meeting with Eleven's investment team and a meeting with the fund partners as a final step after the startup passes the pre-selection.
Who is Eleven Alpha for?
The Eleven Ventures team aims to be the earliest partner to technology entrepreneurs. Eleven Alpha is aimed at founders in the early stages of developing their business. This could mean they only have a bold idea and a rough prototype, or they already have their first paying customers. Eleven's four priority verticals (Fintech, Healthcare, Future of Work, Sustainable Food) remain in focus.
From alpha to beta
Once the deal is confirmed, founders get access to all of Eleven's company-building know-how and resources. The team will provide ongoing support and work personally with entrepreneurs to develop an individual company development plan to help them achieve product-market fit and the next stage of evolution. The program is divided into three parts:
"Discover" part, where entrepreneurs will be able to get to know their customers better, talk to them and understand their pains, needs, requirements. This is when they lay the foundations of their company.
The “Design” part where entrepreneurs refine the value they bring to customers, learn to build a product that customers want, design the business model and learn how to modify it, test and validate their hypotheses.
“Deliver” part, where the founders build a go-to-market strategy, start selling to their first customers, establish the foundations for growth and work on their strategy for the next round of funding.
What happened in the first edition of the program?
In search of the next "builders of the future" in the first edition of the program, the Eleven Ventures team reviewed over 450 applications from 25 countries. After a strict and difficult process, the fund selected 4 startup teams - the Bulgarian companies Flataway and TrueInsights, the Greek MyTeam and the Slovenian Perfeqt. During the program, the teams made significant progress in their development. One of the companies achieved a 10-fold increase in monthly revenue within a year, another increased its customer base 7-fold, and a third strategically changed its ideal customer profile and expanded its offering.
"It wasn't a formulaic program where there were different sessions for all the companies involved. It was extremely valuable to us that everything we went through in terms of sessions, workshops and meetings was highly tailored to our business and the work we do." shares Boris Pavlov, co-founder and CEO of FlatAway.
Ivaylo Simov, Managing Partner at Eleven, commented on Eleven Alpha: "For us, the first release of Eleven Alpha was a return to Eleven's roots. We searched for "builders of the future", met many and supported those who really excelled. Today, we're ready with version 2.0, which surpasses everything we've done in the last 11 years.”
19.02.2024
LOOKING AHEAD: DO COMPANIES SPEAK THE LANGUAGE OF GENERATION Z
Generation Z (Gen Z) is the focus of attention of brands and companies. They are the next generation of consumers and employees to enter the economy, and they are very different in habits, values and motivations than previous generations.
For employers, this requires a number of changes in human resource management policies, oriented towards innovation in both recruitment and onboarding processes, talent management, additional training and even corporate social responsibility, which the generation places as important factor in choosing a company.
What are Gen Z looking for?
In hundreds of materials of various organizations and institutions, the characteristic features and driving values of this generation are discussed.
Generation Z was born into the digital world and carries all its traits - new, fast-moving, with endless possibilities, open to change, sensitive to universal themes, connected to the world and determined to improve it.
Young people of this generation believe that a career is meaningful only when it leads to personal growth and brings social benefit. They do not bow to authority, but listen readily to mentors ready to share their knowledge with them and help them in their mission to make the world a better place.
And last but not least, Gen Z values work-life balance highly and strives to get it right here and now, in their youth, rather than postponing living for a later stage like previous generations did.
Do we have a connection with Gen Z?
Have companies learned to speak the language of Gen Z yet? Some companies have good experience on the subject.
Most important is the lead precisely in topics that excite Gen Z strongly - diversity, equality and inclusion, careers, employee well-being, induction training and talent attraction, as well as digital HR processes.
As a corporate citizen, the company must be exactly that – innovative, fast-growing, responsible to people and nature, strongly committed to socially significant causes and determined to contribute to a better future.
In addition to competitive pay levels, an ever-enriching benefits package that meets the needs of employees at different stages of their lives, the modern company must also invest in strong training programs that build valuable skills for the future. This way he will motivate his current team, but also attract the interest of many of the young people.
A socially responsible company
Perhaps the most recognizable example of a company's social commitment is an initiative in which a significant fund is donated to the implementation of civic ideas that seek to improve the lives of people across the country.
The various initiatives aimed at protecting the environment, which should be carried out traditionally, also receive a strong response.
The latest initiatives focus on a very important aspect of health care – conscious nutrition, which is a topic of particular importance for Generation Z as well.
Don't wait for Gen Z to seek you out, you go to them
Generation Z likes to search for information and easily get to what interests them. At the same time, however, he expects reciprocity in the relationship and believes that as important as it is for you to look for your potential employer, he should also try to find you.
Therefore, in addition to the career guidance events that companies participate in or organize, the direct way that a company would reach young talent is through specially developed youth programs oriented to different age groups of Generation Z - dual training for learners in vocational high schools, an internship program for adult students who are looking for work for the summer months, a summer internship for students who get direct experience in the various departments of the company, working on specific projects, and a training program for young graduates oriented to management positions.
Interest in them is growing, and the feedback from the participants is very positive. This, in turn, motivates companies to constantly develop these formats and provide increasingly attractive conditions with added value in the form of professional training, incentive awards and the building of a talent community.
16.02.2024
GROWTH IN JOB POSTINGS IN JANUARY
An analysis by HR company and career site JobTiger shows a rise in job offers across all sectors in January 2024.
The total number of postings is up 37 percent (11,200 more postings) compared to December 2023. On a year-over-year basis, there is a 10 percent drop, with nearly 4,500 fewer job postings than in January 2023.
In each of the sectors, a double-digit growth in offers is observed. It is the largest in the sectors "Trade and sales" (2,630 offers more, 35 percent growth), "Manufacturing" (2,130 offers more, 46 percent growth) and "Hospitality and restaurants" (1,520 offers more, 38 percent height). It is followed by the sectors "Administrative and service activities" (1310 offers more, 38 percent growth), "Logistics and transport" (980 offers more, 31 percent growth), "Health care and pharmacy" (820 offers more, 49 percent growth) , "Construction" (800 offers more, 52 percent growth), "Accounting, auditing, finance" (780 offers more, 50 percent growth), IT (580 offers more, 21 percent growth) and "Marketing and advertising" (420 offers more, 41 percent growth).
This is the first monthly growth of offers in the IT sector for the last 12 months, the company said. At the end of January, in an interview with BTA, Dobroslav Dimitrov, Chairman of the Board of the Bulgarian Association of Software Companies, indicated that the difficulties of large technology companies around the world, which are laying off employees in order to reduce costs, are reflected in the Bulgarian sector with a decline in the growth.
"We continue to grow, but not at the pace at which it happened in recent years. There was an almost instantaneous freeze on new appointments in the IT industry in Bulgaria, which was visible more or less since the end of spring last year," said Dimitrov in the interview.
On an annual basis, the trend is negative. Most sectors reported fewer offers compared to last year. The only exception is the "Healthcare and Pharmacy" sector, in which there is an 11 percent growth compared to January 2023, the company's analysis states.
Share distribution
With the largest share of advertisements in January is the "Trade and Sales" sector (24 percent), followed by the "Manufacturing" (16 percent) and "Hospitality and Restaurant" sectors (13 percent). Followed by the sectors "Administrative and service activities" (12 percent), "Logistics and transport" (10 percent), "IT" (8 percent), "Health care and pharmacy" (6 percent), "Construction" (5 .7 percent), "Accounting, auditing, finance" (5.6 percent), "Marketing and advertising" (4 percent) and "Art" (1 percent).
Work from home
The analysis of the HR company and career site JobTiger shows that offers for work from home and/or remote work also saw a growth of 26 percent. This is nearly 700 more offers than in December. As a share of the total number of ads, this type of offer occupies 9 percent of the offer in December. The distribution of this type of offer by sector is: 52 percent in the IT sector, followed by "Administrative and service activities" (18 percent), the sectors of the outsourcing industry (15 percent) and "Trade and sales" (9 percent).
Offer by city
As with the other indicators, the company reports a double-digit growth in the offers in all the leading regional cities - Sofia (35 percent), Plovdiv (36 percent), Varna (48 percent), Burgas (54 percent), Ruse (33 percent) and Stara Zagora (36 percent).
As a share distribution in Sofia, the ads are 44 percent, and in the other cities they are: Plovdiv (10 percent), Varna (8 percent), Burgas (4 percent), Ruse (3 percent) and Stara Zagora (3 percent).
15.02.2024
GRANT FOR SMES FOR INTELLECTUAL PROPERTY PROTECTION
For the third year in a row, the Patent Office of the Republic of Bulgaria, together with the European Union Office for Intellectual Property, announces the launch of the opportunity to apply for grants under the Fund for Small and Medium Enterprises.
The Ideas Powered for Business SME Fund is a grant scheme that aims to help small and medium-sized businesses in the EU to protect their intellectual property rights. It is an initiative of the European Commission, implemented by the European Union Intellectual Property Office, and covers the period from 22 January 2023 to 6 December 2024.
The Fund offers financial support in the form of Vouchers for SMEs established in the European Union, creating better framework conditions for competitiveness and encouraging entrepreneurship.
In 2024, it will offer the following support:
VOUCHER 1–IP Scan - reimbursement of 90% of the fees charged by Member States for IP Scan services, which provide an overall assessment of the IP needs of the applicant SME, taking into account the innovative potential of its intangible assets.
From 2024, a new service will be launched within Voucher 1 - IP Scan Enforcement - Diagnostics of the enforcement of intellectual property. The new service is aimed at small and medium-sized businesses that allege another party has infringed their intellectual property rights, or SMEs accused of infringing another party's intellectual property rights.
VOUCHER 2 - trade mark and design protection - reimbursement of 75% of the fees collected by intellectual property offices (including national intellectual property offices, the European Union Intellectual Property Office and the Benelux Intellectual Property Office) for the registration of trademarks and designs; reimbursement of 50% of the fees collected by the World Intellectual Property Organization for obtaining international protection of marks and designs;
VOUCHER 3 - for national and European patents - reimbursement of 75% of the fees charged by national patent offices for filing national and European patents and prior art research in 2023; In 2024, for the first time, the possibility of reimbursement of 50% of legal costs for the preparation and filing of a new European patent application is provided, up to a maximum of EUR 2,000.
In order to ensure the smooth running of the reimbursement of the costs of the new activity, the funding is limited to the legal costs of services related to the preparation and filing of European patents which are provided by persons or associations established in the EU and which are entitled to represent applicants in proceedings before the European Patent Office in accordance with the European Patent Convention (EPC).
VOUCHER 4 - for plant varieties - reimbursement of 75% of EU plant variety electronic application fees and Community plant variety examination fee to the Community Plant Variety Office. By providing financial support for plant variety registration, the SME Fund will support SMEs involved in the green and digital transition, while supporting the objectives of the EC Green Deal.
Vouchers have a limited period of use. SMEs are therefore encouraged to apply for a voucher when they plan to carry out one of the eligible activities within the next 2 months.
More information about the vouchers and the application procedure can be found on the page of the European Union Intellectual Property Office Call for proposals and in the frequently asked questions section.
14.02.2024
CAN WE WORK FOR LESS THAN MINIMUM WAGE
The minimum wage is determined for full-time work for 8 hours per day, 5 days per week. Its amount is the same for the whole country. It is the basic salary and to it are added the additional labor remunerations that are due under the employment relationship on a general basis.
Many employers ask themselves the question, for example, whether it is possible to conclude an employment contract with remuneration below the minimum wage, for full-time work, if the person has previous experience in the specialty and with the additional remuneration for acquired work experience and professional experience forms a gross remuneration of more than 780 BGN
The answer to the question is negative. The basic salary should be at least the minimum wage for the country, no matter how much the additional remuneration will add to it.
The gross salary of each worker or employee is different, because it also depends on the percentage of additional labor remuneration for acquired work experience and professional experience.
The minimum wage can serve as a basis for determining the initial basic wages in the enterprise, additional wages and social benefits. It is also used for the purposes of insurance law and social assistance.
It is also good to pay attention to the ratio between "minimum wage" and "minimum insurance income/threshold", as they are often mixed up.
The minimum insurance thresholds represent legally established minimum amounts of insurance income, on which insurance contributions are made, depending on the main economic activity of the employer and the qualification group in which the profession practiced by the insured person is classified. The amounts of the minimum insurance income for basic economic activities and qualification groups of professions are determined by the Law on the State Public Insurance Budget for the relevant year.
The minimum wage also serves as a unit of measure for determining the sequesterable part of a person's income in the sense of the Civil Procedure Code. If the execution is directed to the labor remuneration or to any other labor remuneration, as well as to a pension, the amounts of which are above the minimum wage, it can be withheld only if the convicted person receives a monthly remuneration in the amount between the minimum wage and twice amount of the minimum wage - one third if without children, and one quarter if with dependent children.
The same applies if the convicted person receives a monthly remuneration in an amount between twice the amount of the minimum wage and four times the amount of the minimum wage - one second part if he is without children and one third part if he has children he supports, as well as if the convicted person receives a monthly remuneration in the amount of more than four times the amount of the minimum wage - the upper limit above two times the amount of the minimum wage, if he is without children, and the upper limit above two and a half times the amount of the minimum wage, if he has children he supports.
We remind you that the non-sequestrable minimum is determined absolutely - in the amount of the minimum wage, and this applies both to any remuneration for work and to the pension. There is no reason to believe that the legislature treats debtors who receive income from employment differently from those who receive income from a pension. Whatever the source of income, the absolutely non-sequestable part is the same for all debtors - the minimum wage. Therefore, employees receiving labor remuneration up to this amount do not have a sequesterable part of the salary.
Reference:
Art. 446, para. 1 of the Civil Procedure Code
14.02.2024
THE EU WILL SUPPORT ITS COMPANIES DEVELOPING RELIABLE ARTIFICIAL INTELLIGENCE
The European Commission has announced a package of measures to support European start-ups and SMEs in developing reliable artificial intelligence that respects EU values and rules. In her 2023 State of the Union speech, EC President Ursula von der Leyen announced a new initiative to make Europe's supercomputers available to innovative European AI start-ups. Today's package puts that commitment into practice, including through a proposal to grant privileged access to supercomputers to start-ups working in this area.
The proposed measures include: amending the Regulation establishing the European High Performance Computing (EuroHPC) Joint Undertaking in the field of supercomputing; a decision to create an Artificial Intelligence Service within the Commission, which will ensure the development and coordination of AI policy at European level and supervise the implementation of the Artificial Intelligence Act; EU Communication on AI start-ups and innovation outlining further key activities:
In addition, two European Digital Infrastructure Consortiums (EDICs) are being created: the "Alliance for Language Technologies" (ALT-EDIC) for the development of large-scale language models in Europe and the EDIC CitiVERSE for artificial intelligence technologies in urban environments in areas such as the management of waste or traffic.
13.02.2024
SUCCESS TECHNIQUES: THE MOST IMPORTANT WEAPON IN THE LEADER'S ARSENAL
Today, being a true leader is more difficult but also more important than ever. In a world that is becoming increasingly volatile, complex and confusing, leaders are integral to creating the conditions in which workers can thrive and organizations can generate great results.
Trust is the key to this process. When people trust their leaders, it increases the likelihood that they will give their best at work, contribute to creating a positive company culture, and ultimately stay with the company instead of looking for fulfillment elsewhere elsewhere.
Fortunately, leaders can create trust in surprisingly easy ways.
Why trust matters
Although the importance of trust may seem more than obvious, many studies attempt to measure its real effect. One study found that employees at companies where trust is high boast 106% more energy in the office, 74% lower stress levels, 76% more engagement and 50% higher productivity, compared to those in low-trust organizations. Another study published in the Journal of Production Economics found that performance improves when people have higher levels of trust. When Slack researchers surveyed more than 10,000 desk workers around the world, they found that feeling trusted in the workplace had the biggest impact on employee productivity.
Be visible and accessible
One of the best ways for a leader to build trust is to be visible and approachable. You don't have to work 24/7, but when leaders are more accessible, it builds trust. A global Oracle survey of nearly 5,000 people found that when leaders are more visible and accessible, team members are more confident and perform better.
We all have a cognitive bias towards the people we know better - we tend to trust those we see more often and get along with better. Also, when a leader is more approachable, he sends a message that he cares about his team members and is always there when they need him.
Leaders can build trust by being visible both onsite and remotely—by maintaining regular contact and communication with team members, turning on their camera in virtual meetings, and making time for face-to-face conversations with their employees.
Be responsive
Another key way leaders generate trust is through responsiveness to team members. One study found that when leaders are receptive to people's questions, respond to team members, and make decisions effectively, people feel more confident that leaders will be there when employees need them. In addition, responsiveness usually also acts as an expression of respect and empathy, which causes employees to put in more effort and perform better.
Leaders can demonstrate responsiveness by checking in on how their employees are doing and asking if they need support, and by answering questions quickly and comprehensively. Leaders also need to be proactive—being aware of what's going on in the organization and helping others prepare for what might happen in the future.
Be consistent
An additional way leaders generate trust is by being consistent. Of course, leaders must adapt to changing market, customer, or organizational demands, as well as to the diverse needs of team members, but even with the necessary adjustments, people want to work with leaders who are predictable—especially in terms of of their values, motivation and character. Evidence for this can be found in compelling research published by the Academy of Management.
Researchers have found that stress decreases when bosses are more consistent. And people prefer a leader who exhibits bad behavior but does it predictably to a boss who reigns in chaos.
All possible types of trust
As you generate trust, you can also consider how people decide to trust. People tend to trust based on two streams of thought. In one, often called "cognitive trust," they make rational decisions based on the behavior they see. In the other, called "affective trust," they decide how much to trust someone based on how the person makes them feel.
The bottom line is that as a leader, you want to be available to your team members, responsive, and consistent in the way you behave. Leaders must also value team members and prioritize their needs. This ensures that you create a culture that makes employees feel respected, valued and supported.
13.02.2024
EC APPROVED THE PROJECT OF BULGARIA AND ROMANIA TO STUDY FOR A SECOND BRIDGE OVER THE DANUBE NEAR RUSE
The European Commission gave the green light for the financing of a feasibility study for a new bridge over the Danube near Ruse-Giurgevo in the amount of 6.9 million euros. The total budget of the project is 13.7 million euros, and the rest of the funds will be provided by the budgets of the two countries.
By the middle of the year at the latest, Bulgaria and Romania will sign an agreement with the European Executive Agency for Climate, Infrastructure and Environment to provide the funding. By 2026, the technical, financial, legal and environmental parameters of the project for a new facility must be clarified.
It is planned that the bridge will be combined - road and railway, with a length of about 2 km. The project also covers the construction of the connecting infrastructure in a section of 15 km on the territory of each of the countries. The bridge will also have a direct connection with the Ruse-Veliko Tarnovo highway currently under construction.
Bulgaria and Romania submitted in September 2023 the joint proposal for funding from the Connecting Europe Facility. Based on the results of the pre-project study, a decision will be made about the location and the method of financing the infrastructure facility.
The first bridge over the Danube River between Bulgaria and Romania was built 70 years ago (1954), and the second - in 2013. Since then, the traffic between the two countries has increased tenfold. In view of the future recovery of Ukraine, the flow of cargo in the direction "North-South" is expected to grow even more, making the project strategically important for the entire region.
