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Bulgaria - Media Review - Sept 2

Sep 2, 2009, 12:12:10 PMArticle by Iva Doneva
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September 2 (SeeNews) - Following are some of the main stories in Bulgarian newspapers on Wednesday morning. SeeNews has not verified these reports and cannot vouch for their accuracy.

Bulgaria - Media Review - Sept 2

PARI

- Bulgaria's economy will start recovering in 2011 when it is expected to rise by 3.8%, after falling 2.0% in 2010, according to the government's 2010-2013 fiscal programme. The country will record an economic growth of 4.8% in 2012 and will grow by 5.0% in 2013.

- Bulgaria should not sign a funding arrangement with the International Monetary Fund as such a deal will be considered a sign of weakness of the new government in its effort to recover the country's economy, U.S. economist Steve Hanke said. Hanke, a professor of applied economics at The Johns Hopkins University in Baltimore and a senior fellow at the Cato Institute in Washington, D.C., is credited with arranging Bulgaria's currency board system, a fixed exchange rate mechanism introduced in 1997 after a financial crisis wiped out nearly a third of the country's banks and spurred inflation.

- Bulgarian diversified company Zarneni Hrani Bulgaria - Farin, active in fodder production, trade in agricultural goods, construction, furniture, transport, leasing and auto services, has acquired 66% of local electricity producer Norex Energy Management for an undisclosed sum, the buyer said.

KLASA

- Bulgaria's Consumers Protection Commission has launched a lawsuit against Cosmo Bulgaria Mobile, a unit of Greece's Cosmote that runs Bulgaria's second mobile phone operator Globul, for unfair treatment of clients, the commission said.

MONITOR

- Bulgaria will decide by the end of the year how to carry on existing joint energy projects with Russia, Bulgarian Prime Minister Boyko Borisov said after a meeting with his Russian counterpart Vladimir Putn.

STANDART

- Bulgarian blue-chip chemical fertilisers producer Neochim is resuming operations after a planned annual maintenance, the company said.

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