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Venelin Terziev
COVID-19 AND THE NATIONAL EMPLOYMENT PLAN IN BULGARIA - ANALYSIS AND OPPORTUNITIES
FOR CHANGE
Summary:
This paper is the second part of an extensive study which analyzes and examines the processes on the Bulgarian market that unfold in the emergency situation resulting from the COVID-19 pandemics. The focus is on the state of the labour market before the pandemic crisis and the subsequent changes in the current national employment plan in view of the challenges of the situation caused by COVID-19. It proposes measures and supports actions for restructuring the financial resource for adaptation of the plan to the new challenge to the labour market in Bulgaria.
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Lyudmil Naydenov, Dimitar Tsenov
COVID-19 EFFECTS ON TAX GAPS
Summary:
The paper examines the issues related to the impact of COVID-19 on tax gaps in Bulgaria. The authors define the various tax gaps in terms of their theoretical, practical and technical grounds as well as unique characteristics. The authors have analysed the dynamics of the gap between the tax and social insurance revenues in the Consolidated Fiscal Program (CFP) as they “should be” collected and as they “are” collected and prove that it was affected directly by the global COVID-19 pandemic. They justify the need for an innovative approach that would take into account the changed realities and the important role of CFP components for improving the public welfare and the sustainability of our economy. The research subject are tax gaps and its object is the impact of COVID-19 on the difference between the volume of collected and planned revenues from direct taxes, indirect taxes, social security and health insurance contributions in Bulgaria. The general conclusion is that the pandemic, which has lasted for already over a year, has slowed down the economy and hence has a negative affect on tax gaps in our country.
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Velichka Nikolova
EFFECTS OF THE GLOBAL ECONOMIC CRISIS AND THE COVID-19 PANDEMIC ON SOVEREIGN DEBT MANAGEMENT IN HEAVILY INDEBTED COUNTRIES
Summary:
This article presents an analysis of the sovereign debt in some heavily indebted countries worldwide, including Venezuela, Sudan, Japan and Greece. Its main objective is to track and compare the initial effects of the global financial and economic crisis (2008) and the COVID-19 pandemic on sovereign debt levels in those countries. This is why it starts with a classification of the theoretical concepts addressing the relationship between economic crises and changes in the levels of sovereign debt. It then defines the main drivers for the sharp increase of the sovereign debt in these countries and describes the dynamics of the revenues, expenditures and balances of their budgets.
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Nikolay Andreev
An Integrated Approach in the Study of the Evolution
of the Stabilisation Policy of the European Union
Summary:
Studying the evolution of European Union's stabilisation policy is a difficult task that requires certain focusing. In a broad sense, stabilisation policy can be defined as a set of measures taken by the government and implemented by certain bodies and mechanisms to overcome problems of the economy or to restore its equilibrium. Of course, processes ongoing at global, regional, and national levels in the economic system should also be taken into account in determining the instruments of the stabilisation policy. For the European Union in particular, the stabilisation instruments in its development are expressed in changes both in the strategic and in the structural and the institutional aspects and the evolution of the stabilisation policy can be characterized as distinct periods of development.
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Venelin Terziev
THE NATIONAL EMPLOYMENT PLAN IN BULGARIA - POLICIES, PRIORITIES AND NECESSARY CHANGES DUE
TO COVID-19
Summary:
The paper comprises two interrelated parts and focuses on the analysis and study of the processes on the Bulgarian market, which unfold in the emergency situation resulting from the COVID-19 pandemics. In the first part, an attempt is made for a systematic analysis of the current national employment plan, its priorities and the needed revisions thereof in the conditions of a critical situation.
