Economic Development and Policies: Realities and Prospects. Sustainability in the Conditions of Global Transformations

В навечерието на еврото: фискална устойчивост и средносрочни перспективи пред икономическото развитие на България

В навечерието на еврото: фискална устойчивост и средносрочни перспективи пред икономическото развитие на България
(On the Eve of the Euro: Fiscal Sustainability and Medium-Term Prospects for Bulgaria’s Economic Development)

Author(s):Victor Yotzov
Language:Bulgarian
Subject(s):Economy, National Economy, Public Finances
Page Range:11-35
No. of Pages:25
Summary/Abstract:This study assesses Bulgaria’s fiscal sustainability on the eve of the adoption of the euro, situating it with-in the broader medium-term prospects for economic development. The analysis combines the classical framework of public debt dynamics with a scenario-based stress test that integrates three groups of risks: (i) the structural weaknesses of the Bulgarian economy (low productivity, demographic pressures, region-al disparities), (ii) emerging climate-related and geoeconomic shocks, and (iii) the implications of the country’s definitive accession to the euro area. Methodologically, the study extends the conventional ap-proach—based on the equilibrium between the interest rate, economic growth, and primary balances—by introducing state-dependent fiscal multipliers and explicitly modelling external shocks. A dynamic model is developed for the period 2025–2035, within which five alternative scenarios are simulated: a baseline scenario; a scenario with global trade protectionism; a climate shock; a combined shock (trade plus cli-mate); and a scenario of a deteriorated global financial environment characterized by a persistently pos-itive differential between the interest rate on public debt servicing and real economic growth. The results indicate that, under the baseline scenario, Bulgaria retains its position as a low-debt country and contin-ues to comply with the Maastricht criteria, despite a gradual increase in the debt-to-GDP ratio. The most severe risks arise under a scenario of prolonged global stagnation and higher interest rates, when r–g becomes persistently positive and sufficient primary surpluses are absent; in this case, public debt moves from a “low” to a “medium” level and follows a potentially unstable trajectory. The conclusion is that Bulgaria enters the euro area with a relatively favourable fiscal position, but its sustainability depends critically on the ability to preserve the fiscal buffer, to integrate climate-related and geoeconomic risks into budgetary planning, and to accelerate real convergence through structural reforms and productivity enhancement.

Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy

Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy
(Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy)

Author(s):Virginia Zhelyazkova
Language:English
Subject(s):Economy, Green Transformation
Page Range:37-41
No. of Pages:5
Summary/Abstract:The European Union's pursuit of strategic autonomy in the context of its green transition has placed critical raw materials at the heart of geoeconomic policy. This paper examines the tensions between the EU’s internal ambitions for resource sovereignty and its external commitments to sustainable development, open trade, and global integration. Focusing on the Critical Raw Materials Act and its strategic targets, the study explores how the EU attempts to reduce dependencies–particularly on China–while promoting circularity, innovation, and resilience across supply chains. The analysis highlights the emerging trade-offs between security of supply and environmental sustainability, especially in the sourcing and processing of raw materials in non-EU countries, including those in Africa and Latin America Through a policy and literature-based approach, the paper identifies the risk of green protectionism and offers a framework for aligning geoeconomic strategy with equitable, sustainability-oriented partnerships. The findings contribute to the broader debate on how the EU can balance strategic autonomy with a cooperative and inclusive global green transition.

Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration

Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration
(Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration)

Author(s):Milena Angelova
Language:English
Subject(s):Economy, Energy and Environmental Studies
Page Range:42-47
No. of Pages:6
Summary/Abstract:The global transformation towards sustainability is challenging the existing economic and social models, requiring a new understanding of mobility, security, and development. The climate migration is emerging to be one of the most serious challenges of the 21st century, with significant potential to transform the geopolitical order and economic models and to exacerbate social inequalities and tensions in vulnerable regions. The article aims at gathering and reviewing existing literature and secondary data as to provide better understanding of climate migration, by examining its factors, characteristics, nature and trends, as to contribute to tracing and forecasting these processes and to help advancing their strategic governance.

Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States

Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States
(Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States)

Author(s):Iana Paliova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Green Transformation
Page Range:48-54
No. of Pages:7
Summary/Abstract:: The European Commission and the Member States are developing comprehensive public policy packages to promote the circularity transition in the economy. The EU Circular Economy Framework established in 2018 aims to assess the progress in achieving the EU circular economy goals in the Member States. In March 2020, the EU Circular Economy Action Plan set up new ambitious targets to boost the process of decarbonisation and circular economy in the Member States aligned with the EU climate objectives for 2030. The Circular Economy Act, which is proposed by the European Commission for public consultation in 2025, is scheduled to be adopted in 2026. In this regard, the study perceives the EU Circular Economy Framework in relation to the decarbonisation and circular economy tasks set by the Multiannual Financial Framework 2021-2027 and NextGenerationEU. The study examines the new developments in dimensions and indicators of the European Circular Economy Framework in 2023. It analyses the challenges facing Bulgaria in a comparative analysis with other Member States in achieving the EU average for some indicators of the first three dimensions of the EU Circular Economy Framework - production and consumption, waste management and secondary use of materials.

The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics

The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics
(The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics)

Author(s):Simeon Stoilov
Language:English
Subject(s):Economy, Supranational / Global Economy
Page Range:55-59
No. of Pages:5
Summary/Abstract:The post-globalization era is defined by transformative geo-economics, where techno-nationalism, supply-chain disruptions, and the securitization of technology reshape global relations. Economic policy increasingly serves strategic objectives, as competitiveness and interdependence are redefined. Within this environment, the International innovations and technology transfer (IITT) becomes a crucial mechanism for sustaining growth and resilience. IITT acts both as a transmission channel and as a multiplier of systemic transformation, enabling adaptation and innovation in fragmented global networks. Beyond productivity gains, it reshapes the social dimension of development by influencing consumer behavior and quality of life. The growing interdependence between technology, security, and sustainability underscores the need for effective governance of innovation transfer to consolidate Europe’s technological and economic sovereignty in an unpredictable geo-economic order.

Impact of the U.S. Import Tariffs on Bulgaria’s Economy

Impact of the U.S. Import Tariffs on Bulgaria’s Economy
(Impact of the U.S. Import Tariffs on Bulgaria’s Economy)

Author(s):Daniela Bobeva-Filipova, Emil Panusheff, Nedialko Nestorov, Atanas V. Pavlov
Language:English
Subject(s):Economy, Supranational / Global Economy
Page Range:60-65
No. of Pages:6
Summary/Abstract:This paper evaluates the direct and indirect effects of the U.S. import tariffs introduced in August 2025 on the Bulgaria’s economy. Using elasticity-based models and global value chain analysis, the evaluation estimates a total export loss of €626.9 million, equal to 1.46% of Bulgaria’s goods exports, and a projected GDP decline of 0.36%. While short-term impacts are measurable, long-term outcomes will depend on U.S. market adjustments and the ability of Bulgarian exporters to adapt to new competitive conditions. The results highlight the need for targeted measures, policies and adaptive strategies to mitigate external shocks in the current global trade environment.

The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries

The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries
(The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries)

Author(s):Galina Zaharieva
Language:English
Subject(s):Economy, National Economy, Business Economy / Management
Page Range:66-70
No. of Pages:5
Summary/Abstract:This article examines the impact of the 2019 amendments to the Basel Convention and Commission Delegated Regulation (EU) 2020/2174 on exports of plastic waste from the European Union to non-OECD countries. To assess the effects, an intervention analysis using interrupted time series with a seasonal ARIMA(1,0,0)(0,0,1)_12 model with three exogenous predictors: time, intervention, and time since intervention is applied. The study is based on monthly data for the period 2018-2023 extracted from the UN Comtrade database for HS code 3915: Waste, parings and scrap of plastics. The results show that although the regulation initially led to a decline in exports, a positive trend emerged after the intervention, leading to a significant cumulative positive effect by the end of the observation period. The findings suggest a successful adaptation by exporters to the new regulatory framework.

The Public Finance in Europe – Structural Developments in France

The Public Finance in Europe – Structural Developments in France
(The Public Finance in Europe – Structural Developments in France)

Author(s):Andrei Rădulescu
Language:English
Subject(s):Economy, Public Finances
Page Range:71-76
No. of Pages:6
Summary/Abstract:France (the second-largest economy of the European Union and of Euroland) has recently been confronted with the severe deterioration of public finance. In terms of the budget deficit/GDP ratio, France ranked first in Euroland and third in the EU during 2Q 2025 (Eurostat, 2025). The financial markets have penalized France with higher borrowing costs, as the yield on 10-year bonds has been above the Eurozone average since June 2024. Furthermore, in July 2025, France paid the same interest rate as Greece on the 10-year Government bonds for the first time in history (Eurostat, 2025). These developments and the weak growth pace of the economy (below 1% Y/Y over the past quarters) determined the increase of the public debt/GDP ratio to a record high level, above 115% in 2Q 2025, the third largest level in the EU (Eurostat, 2025). In this paper, standard econometric tools are employed, and the Eurostat database is utilized to analyze the structural developments in public finance in France and Germany from 2002 to 2025. Our results point out the divergence in terms of the structural component of the budget deficit between France and Germany in recent years, leading to the widening of the gap in terms of public debt/GDP ratio to over 50pps.

New Approaches in the Relationship Between China and CEE

New Approaches in the Relationship Between China and CEE
(New Approaches in the Relationship Between China and CEE)

Author(s):Iulia Monica Oehler-Sincai
Language:English
Subject(s):Economy, Supranational / Global Economy
Page Range:77-81
No. of Pages:5
Summary/Abstract:At present, one can trace four categories of CEE countries according to their attitude towards China: pillars of China-CEE cooperation (Serbia and Hungary); countries aligned with the EU attitude towards China and NATO objectives (most CEE countries, which are included in subcategories dominated by either prudence or pragmatism); countries discouraged to cooperate with China by Western mass media (Bosnia-Herzegovina); provocative partners (Czechia and the Baltic States). Taking into account relevant factors currently undermining relations in the 14+1 framework, one can assume that the future of China-CEE cooperation is uncertain. Among the EU member states, the majority of the CEE countries see the United States similar to Czechia (as stated in its Indo-Pacific Strategy): a natural partner and close ally. By contrast, China is seen simultaneously as a partner, as an economic adversary, and especially as a systemic rival. This paper has as its main objective the analysis of various factors currently influencing CEE relations with China and explains why the former enthusiasm towards cooperation has vanished.

EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU

EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU
(EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU)

Author(s):Jingxin Hu
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management
Page Range:82-88
No. of Pages:7
Summary/Abstract:Using monthly customs data from the EU-27 from 2010 to 2019, this paper examines the causal impact of two institutional shocks, the implementation and removal of the Minimum Import Price (MIP), on Chinese PV module exports to Europe. Identification combines a China-vs-others difference-in-differences with importer-by-month fixed effects and importer-clustered standard errors, plus event studies centered on both policy dates. MIP implementation significantly depressed imports from China; after removal, China’s share rose significantly relative to other sources. The evidence shows that, under the green transition, switching from trade defense to deregulation quickly reconfigures source composition and concentration, offering quantitative guidance for industry–trade policies that jointly pursue decarbonization and supply-chain resilience.

Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers

Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers
(Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers)

Author(s):Eduard Marinov
Language:English
Subject(s):Economy, Supranational / Global Economy
Page Range:89-93
No. of Pages:5
Summary/Abstract:In Africa, circular economy (CE) is both a waste management framework and a development strategy capable of driving industrial transformation, innovation, and employment. Despite contributing under 4% of global emissions, the continent faces severe climate impacts, including droughts, floods, and resource scarcity. This article combines literature review, SWOT analysis, and ten semi-structured interviews with entrepreneurs and practitioners to examine Africa’s CE transition. Findings reveal structural barriers – limited infrastructure, finance, and fragmented policies – alongside opportunities in renewable energy, community initiatives, and youth-led entrepreneurship.

The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators

The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators
(The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators)

Author(s):Rytis Milkintas
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:94-100
No. of Pages:7
Summary/Abstract:The national culture of the country is an integral foundation of a successfully developing state. Today's challenges have led to the ineffectiveness of traditional public management models. Therefore, as the world becomes more globalized, rapid technological transformations occur, favorable conditions have been created for the formation of a new branch of the new public management model - the smart management model. Smart management is becoming an integral part of today's cultural management. The mentioned change in public management models towards smart management is gradually taking place in the field of Lithuanian culture as well - many cultural sector services are moving to the digital space in order to increase their accessibility, more effective mechanisms for the activities of cultural institutions are being applied, and the most suitable cultural policy model for Lithuania is being sought. The gradual change of the public management model to the smart public management model was actualized by Jucevičius, Pauliukevičiūtė (2018), who began to develop a system of 6 dimensions of smartness in cultural management, however, sets of indicators were not created for the 4 dimensions of smartness, but only assigned criteria. The study aims to supplement the concept of six dimensions of smartness in cultural management and 24 criteria initiated by Pauliukevičiūtė and Jucevičius with sets of indicators for four dimensions and to summarize the sets of indicators proposed in the two-dimensional concept, thereby completing a unified system of six-dimensional sets of indicators.

EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses

EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses
(EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses)

Author(s):Zvezdelina Zhelyazkova
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:101-105
No. of Pages:5
Summary/Abstract:Recently the European Commission has adopted a new package of proposals to simplify sustainability reporting rules and increase competitiveness. Corporate Sustainability Reporting Directive should have been transformed into national laws by July 6, 2024, at the latest while as of the end of November 2024, only 15 countries had fully or partially transposed the CSRD and strong debates at all levels boosted the reform.

The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case

The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case
(The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case)

Author(s):Banu Gürneş Boz, Mustafa Boz
Language:English
Subject(s):Economy, Tourism
Page Range:106-111
No. of Pages:6
Summary/Abstract:This study aims to examine the impacts of the sale of residential properties to foreigners on tourism. Face-to-face interviews were conducted with hotel and travel agency managers by using a semi-structured questionnaire in Antalya in 2024, Content analysis was used to analyze the data. Participants stated that the sale of residential properties to foreigners has positive impacts such as ensuring foreign investment inflows and closing the foreign exchange deficit. On the other hand, direct and indirect negative impacts were identified as follows; Due to the extreme increases in housing rents and sales prices in the region, the migration of competent tourism workers to other regions is leading to a decline in service quality in the tourism sector. Furthermore, the operation of illegal accommodation businesses in properties purchased by foreigners negatively affects accommodation businesses. Foreigners' purchases from chain stores selling imported goods result in a loss of foreign currency. The study shows that negative impacts are much greater than positive ones. The exodus of skilled tourism workers resulting from excessively high apartment sales and rental prices will negatively affect the tourism sector. The resulting decline in service quality could reduce the number of tourists seeking high-quality service, and potentially tarnishing the image of Turkish tourism. Furthermore, illegal accommodation operations are a significant issue that has negative effects in terms of both security and accommodation businesses.

Certification Schemes in the Foodservice Sector: The Case of Meat

Certification Schemes in the Foodservice Sector: The Case of Meat
(Certification Schemes in the Foodservice Sector: The Case of Meat)

Author(s):Biasino Farace, Paola Geatti, Andrea Del Chicca, Erica Varese
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:112-117
No. of Pages:6
Summary/Abstract:Certifications play a key role in the agri-food and meat industries, where consumers, stakeholders, and legislative frameworks influence production practices and the sector’s economic, social, and environmental impacts. This study analyses certification schemes in the foodservice sector with reference to beef, pork and poultry, the most widely marketed variety of meat in the EU. The objective is to identify which standards attract the authors’ interest and whether the certifications examined vary according to the geographical area or the authors’ country of affiliation. To achieve these goals, this research carries out a systematic literature review using the PRISMA model. Findings indicate that certifications in the foodservice sector mainly cover the domains of animal welfare, food safety and quality, cultural aspects, and consumer behaviour. The findings establish the foundation for further research, which aims to integrate certification schemes into foodservice and support competitiveness of all meat producers of the supply chain in the meat sector.

Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study

Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study
(Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study)

Author(s):Gualter Fernandes Martins Câmara, Francisco José Ferreira Silva, José António Cabral Vieira
Language:English
Subject(s):Economy, Energy and Environmental Studies
Page Range:118-123
No. of Pages:6
Summary/Abstract:The Azores archipelago, located in the middle of the Atlantic Ocean, offers a unique setting to study the determinants of energy consumption. Its isolation from the mainland grid makes it a natural experiment where energy production is directly linked to consumption, providing an opportunity to analyze the determinants of energy consumption in archipelagos or isolated regions. This study aims to investigate the relationship between energy consumption and climate variables in an off-grid region, using the island of São Miguel in the Azores archipelago as a case study, from 2018 to 2022. Hourly data on total energy consumption and renewable energy consumption on São Miguel were collected, along with climate data (temperature, solar radiation, humidity, precipitation, and wind speed) and calendar variables (day of the week and holidays). The analysis was performed using panel data methodology with fixed effects, for total energy emission and for renewable energy emission separately. The results show that total energy consumption and renewable energy consumption are influenced by climate variables, albeit with impacts of different magnitudes and directions. The day of the week and holidays also had a significant negative effect on energy consumption. The study's findings can be used to develop policies to promote a more efficient and sustainable energy management in islands and other regions with limited access to the electricity grid.

Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia

Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia
(Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia)

Author(s):Tatjana Drangovska, Marica Antovska-Mitev
Language:English
Subject(s):Economy, National Economy
Page Range:124-129
No. of Pages:6
Summary/Abstract:The New Institutional Economics assigns a significant role to institutions within long-term economic development models. In the context of sustainable development, institutions are regarded as the fourth component, and the development of the institutional system is considered a prerequisite for steering national economies toward sustainable growth paths. This paper aims to examine the role of institutions in fostering economic growth, with a specific focus on North Macedonia. The quality and capacity of institutions in North Macedonia are assessed using selected international indicators, including the Worldwide Governance Indicators (WGI), the Corruption Perceptions Index (CPI) etc. In light of the identified weaknesses within the country’s institutional system, the paper presents macroeconomic projections that outline North Macedonia’s potential development trajectory over the next two decades, assuming the implementation of reforms in key institutional areas.

Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness

Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness
(Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness)

Author(s):Galateya Kolikova
Language:English
Subject(s):Economy, National Economy, Supranational / Global Economy
Page Range:130-133
No. of Pages:4
Summary/Abstract:Regional cooperation is increasingly recognised as an important factor in enhancing a country's ability to attract foreign direct investment. For Bulgaria, a strategically located Southeast European nation, regional integration frameworks play a vital role in shaping its investment climate. This paper explores how Bulgaria's participation in regional cooperation initiatives influences its competitiveness in securing foreign direct investments. Regional integration promotes economic stability, expands market accessibility, and fosters investor confidence–elements essential for attracting sustainable investment. Infrastructure interconnectivity, harmonised regulatory environments, and cross-border partnerships within Southeast Europe create synergistic benefits that amplify Bulgaria’s appeal to foreign investors. By situating Bulgaria’s investment performance within the context of its regional peers, this study aims to reveal the extent to which coordinated regional efforts enhance its relative attractiveness. The analysis draws on empirical data, including foreign direct investment inflow trends, international competitiveness indices, and regional development programs, to substantiate these claims. Despite evident advantages, Bulgaria faces challenges such as policy fragmentation and insufficient strategic alignment that limit its capacity to fully leverage regional cooperation benefits. Addressing these constraints through targeted policy measures is crucial. The study contends that a consolidated and proactive regional integration approach is important for consolidating Bulgaria's position as a competitive destination for foreign investment in Southeast Europe.

Global Crises and Municipal Finances: Evidence From Bulgaria

Global Crises and Municipal Finances: Evidence From Bulgaria
(Global Crises and Municipal Finances: Evidence From Bulgaria)

Author(s):Yana Kirilova, Dochka Velkova
Language:English
Subject(s):Economy, Public Finances
Page Range:135-143
No. of Pages:9
Summary/Abstract:Financial crises strike municipal finances more severely with longer recovery periods compared to state finance, while crises of non-financial origin do not impact so negatively local governments. Local own source revenues have limited growth potential as they usually do not play the role of automatic stabilizers as major state taxes do and are have territorial and base limitations.

Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria

Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria
(Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria)

Author(s):Kalina Petrova
Language:English
Subject(s):Economy, National Economy
Page Range:144-149
No. of Pages:6
Summary/Abstract:This research article examines regional resilience and economic adaptation in the context of Bulgaria’s new Nomenclature of Territorial Units for Statistics, level 2 territorial division, scheduled to take effect in 2027. The analysis focuses on the Northern, Eastern, Southern, and Capital regions and their role in promoting adaptive and sustainable development. The aim is to assess the impact of the new division on regional development and to identify challenges to its effective implementation within the cohesion policy of the European Union. Key tasks include analyzing socio-economic characteristics, comparing with the current division, identifying institutional, financial, and governance challenges, and formulating recommendations to enhance regional resilience. The methodology combines statistical and comparative analysis of key indicators with a review of national and European Union strategic documents. Expected results indicate that the new territorial division provides a foundation for more effective regional planning and cohesion policy implementation, while its success depends on strengthened institutional capacity, improved coordination across governance levels, and active participation of local communities.

Modern aspects of regional policy in the context of development of small settlements

Modern aspects of regional policy in the context of development of small settlements
(Modern aspects of regional policy in the context of development of small settlements)

Author(s):Nedelin Markov
Language:English
Subject(s):Economy, National Economy
Page Range:150-155
No. of Pages:6
Summary/Abstract:Small settlements in Bulgaria remain in the shadow of national and international mechanisms for smoothing regional disparities. In Bulgaria, regional policy is mainly focused on regional and municipal centers, while the problematic peripheral urbanized areas around them remain undervalued. This leads to an accumulation of complex problems and challenges that leave behind significant socio-economic consequences. The purpose of the report is to present a collective survey aimed at identifying the problems of small settlements in the Stara Zagora district and, on this basis, to derive some views on optimizing the instruments of regional policy in Bulgaria.

Progress Towards Sustainable Development

Progress Towards Sustainable Development
(Progress Towards Sustainable Development)

Author(s):Maria Kotseva-Tikova
Language:English
Subject(s):Economy, National Economy
Page Range:156-161
No. of Pages:6
Keywords:sustainable development; sustainable development goals; green economy; circular economy
Summary/Abstract:The report studies the results of the implementation of the Sustainable Development Goals globally. The assessments in the reports of the United Nations and Eurostat are compared, and Bulgaria's progress is analyzed. Special attention is paid to Goal 12 Sustainable Consumption and Production and its relationship with achieving sustainability through integration of green with circular economy. Through cluster analysis, the progress achieved by individual countries in the UN assessment of 2025 is analyzed, and the main patterns are summerized.

Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness

Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness
(Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness)

Author(s):Iliya Pironkov, Petya Biolcheva, Miglena Molhova-Vladova
Language:English
Subject(s):Economy, National Economy, ICT Information and Communications Technologies
Page Range:162-166
No. of Pages:5
Summary/Abstract:This paper examines the role of artificial intelligence as a catalyst for sustainable regional development in the context of Industry 5.0, with a special focus on the digitalization of the public sector and the transformation of regional policies. It outlines three key areas: 1) methodologies for digitalization and efficiency in the public sector, 2) the role of the human as an expert and active factor in creating innovations, and 3) the relationship between regional policies, sustainability and the transition to Industry 5.0. On this basis, a conceptual methodological framework is proposed for integrating AI-infrastructure to improve resource efficiency, digitalize the public sector and develop more flexible management practices in the context of Industry 5.0, which requires synergy between technology, ethical human-centricity and environmental and economic sustainability.

How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy

How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy
(How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy)

Author(s):Anton Peychev
Language:English
Subject(s):Economy, National Economy
Page Range:167-172
No. of Pages:6
Summary/Abstract:This paper explores the reliability of the “EU average” as a reference value for assessing performance in waste management and the circular economy. It highlights the dominant contribution of larger economies to aggregated indicators and the distortions that arise when interpreting these figures for smaller member states. A critical review is conducted of the available statistical data on waste and related indicators of circular material use. The study identifies key gaps in the statistical framework, including the lack of comparable data between generated and recycled waste across economic subsectors and the inconsistent reporting frequency of core indicators. Furthermore, the analysis demonstrates the dependence of circular economy metrics on the economic structure of individual countries, which makes cross-country comparisons potentially misleading with regard to actual progress toward circularity.

Spatial Economies of Energy Communities: How Urban Density of Collective Self-consumption Reduces Solar Curtailment and Enhances Grid Flexibility in the EU

Spatial Economies of Energy Communities: How Urban Density of Collective Self-consumption Reduces Solar Curtailment and Enhances Grid Flexibility in the EU
(Spatial Economies of Energy Communities: How Urban Density of Collective Self-consumption Reduces Solar Curtailment and Enhances Grid Flexibility in the EU)

Author(s):Daniel Petrov
Language:English
Subject(s):Economy, National Economy, Supranational / Global Economy
Page Range:173-178
No. of Pages:6
Summary/Abstract:This study investigates whether the spatial density of collective self-consumption energy communities in EU urban areas is positively correlated with enhanced grid flexibility and reduced solar PV curtailment. Using a mixed-methods approach, the research combines GIS-based spatial density mapping, statistical correlation and regression analysis, and qualitative policy review across 15 representative European cities. Results show that higher CSEC density is significantly associated with lower curtailment rates and higher flexibility scores. Cities like Ghent and Vienna exhibited the most favorable performance, supported by digital infrastructure and enabling policy frameworks. Multivariate regression confirmed CSEC density as a key predictor, independent of population or rooftop PV levels. The findings emphasize that spatial clustering of energy communities generates systemic grid benefits and should be prioritized in EU energy policy. The study concludes with strategic recommendations for spatial planning, DSO collaboration, data governance, and regulatory reform to accelerate the role of CSECs in Europe’s clean energy transition.

Устойчивостта в контекста на дигитализацията в ЕС – ретроспекция и проблеми

Устойчивостта в контекста на дигитализацията в ЕС – ретроспекция и проблеми
(Sustainability in the Context of Digitalization in the EU – Retrospect and Challenges)

Author(s):Elitsa Dimova
Language:Bulgarian
Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies
Page Range:179-184
No. of Pages:6
Summary/Abstract:Sustainability as a model for the future development of civilization implies economic stability, social care and guaranteed personal development.. The goals of this sustainability are related to the preservation of all types of resources in the long term. But in the last fifty years, the more modern ideology of managing the global information society, the creation of the infrastructure of the digital society, have shifted the focus in another direction. In this sense, sustainability has also begun to be considered in the context of digitalization. To the extent that it leads to economic benefits, its elements - for the ecological, guaranteed urban and regional development, are redefined and focused on much greater requirements for human capital. This creates conditions for social instability.

Domestic Tourism and Sustainable Development: A Bibliometric Analysis

Domestic Tourism and Sustainable Development: A Bibliometric Analysis
(Domestic Tourism and Sustainable Development: A Bibliometric Analysis)

Author(s):Desislava Varadzhakova, Marina Raykova
Language:English
Subject(s):Economy, Tourism
Page Range:185-191
No. of Pages:7
Summary/Abstract:The main goal of the present paper is to realize a bibliometric analysis of research about sustainable development of domestic tourism published in one of the leading scientific databases – Scopus. For the graphical representation of the results is used VOSviewer software. The selected papers for analysis are based on preselected keywords and content analysis. They are published between 1999 and 2025 with a clear peak between 2020 and 2025. Most of them are articles. The largest number of publications in the field of sustainable development of domestic tourism are observed in the journal Sustainability (Switzerland). The number of conference papers presenting results on the topic is significantly smaller. The analyzed topic is discussed mainly in the context of Social Sciences. The papers are authored by researchers from 50 countries. Scientists from Indonesia and China are mainly working on the topic.

Investment Pathways in Tourism: IPO Financing, Public Policy and Sustainable Destination Development: Exploring the Intersection of Capital Markets, Regulatory Frameworks, and Sustainability in Tourism Development Across Central and Eastern Europe

Investment Pathways in Tourism: IPO Financing, Public Policy and Sustainable Destination Development: Exploring the Intersection of Capital Markets, Regulatory Frameworks, and Sustainability in Tourism Development Across Central and Eastern Europe
(Investment Pathways in Tourism: IPO Financing, Public Policy and Sustainable Destination Development: Exploring the Intersection of Capital Markets, Regulatory Frameworks, and Sustainability in Tourism Development Across Central and Eastern Europe)

Author(s):Violeta Doneva-Yankulova
Language:English
Subject(s):Economy, Tourism
Page Range:192-196
No. of Pages:5
Summary/Abstract:This research critically examines the evolving relationship between various investment mechanisms, with a particular emphasis on Initial Public Offerings, and their role in sustainable tourism development within Central and Eastern Europe. Bulgaria serves as a primary case study for this investigation. Employing the methodology developed by Leppänen et al., the study meticulously analyses how tourism policy frameworks significantly influence investor behaviours and the overall attractiveness of the tourism sector across diverse scales, encompassing global hospitality corporations and small-scale local enterprises. The mixed-methods approach adopted combines quantitative analysis of IPO performance metrics with qualitative interviews involving key stakeholders, thereby directly responding to scholarly calls for methodological pluralism in tourism finance research. The findings reveal substantial disparities in capital formation between corporate and small-scale tourism ventures, while concurrently identifying emerging synergies between ESG-oriented investment and sustainable destination development. Furthermore, the research conclusively demonstrates that EU membership has considerably enhanced the investment climate within Bulgaria's tourism sector, despite persistent challenges posed by geopolitical instability. This study significantly contributes to the tourism finance literature by establishing a robust theoretical framework for understanding the intricate interplay among capital markets, public policy, and sustainable tourism development, culminating in actionable recommendations for both policymakers and industry practitioners.

National Identity and Tourism Policy

National Identity and Tourism Policy
(National Identity and Tourism Policy)

Author(s):Mariana Ianeva, Ralitsa Georgieva
Language:English
Subject(s):Economy, Tourism
Page Range:197-201
No. of Pages:5
Summary/Abstract:The object of study is the tourism destination Bulgaria, in the context of the nine tourism regions. The subject of study is the tourism policy, linked to the vision, mission, slogans and communication messages for Brand Bulgaria. The aim is to prove that in order for the tourism policy to be effective, it is necessary to emphasize not only the mission and vision for Brand Bulgaria, but to focus on the communication policy, part of the marketing mix, and more specifically, finding and implementing appropriate messages to form Brand Bulgaria, in the context of hospitality in four seasons, with an emphasis on the product offering and specificity of the nine tourism regions and the leading locations in them. The thesis developed in this presentation states that Brand Bulgaria, through hospitality in four seasons and prioritizing health, MICE, entertainment and cultural tourism, can be realized by creating and communicating the right messages focused on the specific resources of the country and individual destinations, national distinctive features, as well as product characteristics. Without creating and communicating the right messages for individual locations in the context of the nine tourism regions, tied to a common identity for the Bulgaria brand, it is not possible to reposition and rebrand the country towards a four-season attractive tourist destination for health, MICE, entertainment and cultural tourism.

Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025)

Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025)
(Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025))

Author(s):Andrey Zahariev
Language:English
Subject(s):Economy, National Economy
Page Range:202-209
No. of Pages:8
Summary/Abstract:The real estate sector is closely related to economic growth. With Bulgaria's accession to the Schengen area and the Eurozone, the real estate sector reports a positive price dynamic of 75.6% for the period 1Q'2020-1Q'2025. This logically leads to a sustainable increase in household wealth. To identify trends in real estate transactions, a database with quarterly indices was constructed, through which the factors of price growth can be modelled by regression, which is the goal of the study. Thirty-one factors transformed into indices with a base of 100 at the beginning of 2020 were studied. By applying a stepwise regression model, 26 factors were eliminated and the five factors with the most significant impact on the dependent variable - the general housing price index were determined. In parallel with the "overheating" in the real estate market, the article establishes a negative correlation between the intensity of housing transactions registered with the Registry Agency and the general price index of residential properties purchased by households in Bulgaria.

Развитие на селските райони в България – минало, настояще и бъдеще

Развитие на селските райони в България – минало, настояще и бъдеще
(Rural area development in Bulgaria - past, present, future)

Author(s):Ivan Byanov
Language:Bulgarian
Subject(s):Economy, National Economy
Page Range:210-215
No. of Pages:6
Summary/Abstract:Rural regions in Bulgaria play a strategic role for society, the economy and the environment. This article examines their evolution across three policy periods – the Rural Development Programme (RDP) 2007–2013, RDP 2014–2020 and the Strategic Plan under the Common Agricultural Policy (CAP) 2023–2027. It analyses trends in unemployment, gross domestic product, demography and business dynamics across predominantly urban, intermediate and predominantly rural areas, drawing on Eurostat data and policy documents. The article evaluates the effectiveness of measures and outlines scenarios for the future. The main conclusion is that rural development remains challenging, but targeted investments, integrated policies and stronger urban–rural linkages can foster sustainable growth.

Economic Development Through the Implementation of a Strategy of Linked and Unrelated Diversification in Agriculture in the North-East Planning Region

Economic Development Through the Implementation of a Strategy of Linked and Unrelated Diversification in Agriculture in the North-East Planning Region
(Economic Development Through the Implementation of a Strategy of Linked and Unrelated Diversification in Agriculture in the North-East Planning Region)

Author(s):Gergana Slavova
Language:English
Subject(s):Economy, Agriculture
Page Range:216-223
No. of Pages:8
Summary/Abstract:In recent years, there has been considerable uncertainty in the economic, political, and social business environment. Therefore, in order to be adaptive, agricultural companies in the northeastern planning region are faced with the opportunity to implement various strategies for survival, development, and growth. Some of the most suitable strategies for them are related and unrelated diversification strategies. The main objective of this scientific study is to identify the different types of diversification strategies that farmers in the NEP can apply. To this end, an empirical study was conducted covering large and medium-sized producers in the region of Northeastern Bulgaria. The methods used are: comparative and empirical methods, the interview method, methods of deduction, induction, and extrapolation. The results obtained in the study, the conclusions and recommendations are useful both for people working in the agricultural sector and for the scientific community and managers of agricultural companies.

Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework

Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework
(Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework)

Author(s):Veselin Krustev
Language:English
Subject(s):Economy, Agriculture
Page Range:224-231
No. of Pages:8
Summary/Abstract:In the Common Agricultural Policy, which has been implemented for almost two decades, contradictory trends have been observed, both in Bulgaria and in the other Member States, which is especially relevant for small farms, which are mainly located in the so-called "new" Member States, and in a large part of the Mediterranean countries. This study offers a holistic approach to assessing the farm sustainability, based on key indicators suitable for evaluating a relatively large research scale and showing the direction of sustainable development of farms, and on the other hand estimating efficiency of the implemented policies in the sector, which occupies an increasingly significant share of the utilized agricultural area in the European Union. Results of six economic size classes are obtained by both methods to form a Composite Sustainability Index and data is provided by the Farm Accountancy Data Network. The results proof how the majority of Bulgarian farms of various sizes in the field crops sector lag behind the sustainability of the average statistical agricultural production unit at the European Union level, but when it comes to an assessment linked to the scale of production (payment per area), this is not relevant for the enterprises with the largest area.

Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030

Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030
(Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030)

Author(s):Bozhura Fidanska
Language:English
Subject(s):Economy, Agriculture
Page Range:232-237
No. of Pages:6
Summary/Abstract:In recent decades, especially since the second half of the twentieth century, farms in mountainous areas have undergone a process of socio-economic and environmental transformations as a result of accelerated integration into national and international social-economic systems. Consequently, these farms have had to adapt to broader socio-economic dynamics, including the full integration of rural economies into a globalised market economy; expansion and deployment of communication technologies; gradual protection of the environment; an increasing revision of agricultural policy support; emergence of new requirements and interests for rural areas such as tourism, landscape maintenance, protection of biodiversity and cultural heritage, and growth of an economy based on the provision of diverse services. This study aims to design, using statistical data from 2007 to 2020, a multi-scenario simulation framework for the development of farms in mountain areas. It applies a widely recognised scenario-based methodological approach. The study establishes the logical relationship between the functioning of production systems in mountain regions and the sustainable development of agricultural holdings in these areas. Three scenarios are constructed: a baseline, a moderate, and a pessimistic scenario. The results highlight the significant challenges confronting farms in mountainous regions while also revealing opportunities to adapt development policies and strategies. Targeted measures aimed at stimulating sustainable practices, diversifying activities, and improving infrastructure can mitigate negative trends and enhance the long-term viability of farms in these territories.

Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers

Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers
(Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers)

Author(s):Monika Kabadzhova, Anton Blagoev
Language:English
Subject(s):Economy, Agriculture
Page Range:238-243
No. of Pages:6
Summary/Abstract:The study combines different methodological approaches to track trends in the implementation of agroecological practices, identify barriers, assess their specificities and impact, and outline directions for development. To achieve this, some tasks have been set, including reviewing the literature on the topic, identifying the leading trends in the implementation of agroecological practices and innovations, and the main problems and barriers to their adoption on farms. The study aims to identify the leading trends in the implementation of agroecological practices on farms. It was found that the line for the development of agroecological practices and innovations is as important as the important stages for farm management.

The Contribution of Small Farmers to Ensuring Food Security in Bulgaria

The Contribution of Small Farmers to Ensuring Food Security in Bulgaria
(The Contribution of Small Farmers to Ensuring Food Security in Bulgaria)

Author(s):Mihaela Mihailova, Rumena Gandeva
Language:English
Subject(s):Economy, Agriculture
Page Range:244-249
No. of Pages:6
Summary/Abstract:Small farms occupy a leading place in structure of Bulgarian agriculture. This study examines contribution of small farms to national agriculture, based on data from Eurostat. The relative share of small farms in terms of used agricultural area, produced output, specialisation, as well as the distribution of small farms by subgroups, was analysed. This study aims to determine the relative contribution of food produced by small farms to ensuring food security in Bulgaria. A key aspect of this study was to research the role of small farms in ensuring food security, sustainable resource management. The article outlines the challenges facing small farms, such as access to finance and markets, as well as the opportunities for development through policy synergy.

The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation

The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation
(The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation)

Author(s):Adelina Milanova, Pavlinka Naydenova
Language:English
Subject(s):Economy, Business Economy / Management, Human Resources in Economy
Page Range:251-255
No. of Pages:5
Summary/Abstract:The issues regarding innovativeness, innovation attitudes, and behavioral manifestations are broad in scope and generally related to the cultural context of corporate management. Diagnosing this aspect is of essential importance to both management and economic science. This study focuses on the realization of innovation potential in accordance with the innovation attitudes demonstrated by a specific social cohort, engaged in various economic activities within business units in Bulgaria, where relatively high employment of Generation Z representatives is observed. The authors argue that the innovative potential and attitudes can be considered both as a reflection and as a result of the manifestation of the corporate human capital, which is a product of complex and not always linear processes in the economic-historical plan. Addressing this specific component of contemporary corporate human capital is justified by the need to track the status of this emerging segment of society, which is increasingly influencing the identification and analysis of specific attitudes, expectations, and behaviors across business units in Bulgaria. Given the selected focus, the team conducts a longitudinal study as the most appropriate methodology for the specific case. A deeper examination of the traits and dynamics of Generation Z individuals in Bulgaria, particularly as they engage in their preferred occupations, may shift the emphasis within the organizational culture of business units, and that could as well influence the balance between national and organizational cultural dimensions in the Bulgarian economic context.

Building the Employer Brand as a Driver for Achieving Sustainability

Building the Employer Brand as a Driver for Achieving Sustainability
(Building the Employer Brand as a Driver for Achieving Sustainability)

Author(s):Neviana Krasteva, Tinka Churkova
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:256-261
No. of Pages:6
Summary/Abstract:This article explores how the employer brand, combined with sustainable business practices and commitments to Environmental, Social, and Governance principles, becomes a key instrument for organizational development in the current economic and social environment. Through content analysis of 14 Bulgarian companies from various sectors, the study identifies how digital communication, the employer value proposition and adaptation to Generations Y and Z contribute to internal organizational engagement and external reputational trust. The authors argue that strategically developing the employer brand in alignment with sustainability principles has the potential not only to improve human resources effectiveness but also to strengthen the organization’s long-term competitive position.

Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams

Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams
(Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams)

Author(s):Antoaneta Ivanova-Bares
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:262-267
No. of Pages:6
Summary/Abstract:The accelerating digitalization of global business and the growing prevalence of Virtual International Teams (VITs) have transformed organizational design and managerial practice. This paper develops an integrated analytical framework combining Principal–Agent Theory (PAT) and Business Process Reengineering (BPR) to address the key challenges of virtual collaboration—information asymmetry, trust, motivation, and control. While PAT explains behavioral dynamics of delegation, incentives, and accountability, BPR provides structural and technological tools for process optimization and transparency. Through theoretical synthesis and comparative analysis of leading corporations such as IBM, SAP, Google, and Deloitte, the study demonstrates that integrating agency mechanisms with reengineered digital processes enables organizations to balance autonomy with accountability and flexibility with control. The proposed model conceptualizes virtual management as a dual-governance system in which trust, technology, and transparency interact to create adaptive, learning-oriented teams. The research highlights that virtual leadership must evolve from supervision to system design, emphasizing empathy, data fluency, and ethical governance. Beyond its theoretical contribution, the study offers practical guidelines for implementing incentive-compatible digital architectures that foster collaboration, innovation, and resilience in hybrid and global environments. The synthesis of PAT and BPR provides a foundation for developing a broader theory of Collaborative Digital Governance, positioning virtual teamwork as a defining feature of modern enterprises in the Fourth Industrial Revolution.

Trade Credit and Financial Sustainability of Enterprises

Trade Credit and Financial Sustainability of Enterprises
(Trade Credit and Financial Sustainability of Enterprises)

Author(s):Galya Taseva
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:268-273
No. of Pages:6
Summary/Abstract:The aim of the article is to examine the importance of trade credit for the financial stability of enterprises in Bulgaria and specifically for the risk of falling into a state of liquidity shortage and inability to cover obligations to creditors in different economic conditions. The analysis is based on panel data for 43 non-financial enterprises with different main activities in the field of production and services, which were traded on the Bulgarian Stock Exchange during the period 2018 - 2024. Non-parametric analysis of variance revealed a statistically significant difference between the degree of liquidity and the risk of bankruptcy of companies that are net creditors and net debtors of trade credit. Companies that are net debtors of trade credit are financially more vulnerable. The results of the study show a unidirectional change in trade receivables and payables, with an extremely strong convergence of the average values of receivables and payables to trade counterparties observed since 2022 and even an almost complete equalization of the values in 2024. This is the result of an increasing desire to hedge trade credit risk and the desire of companies to be prepared for upcoming economic shocks.

Финансиране и устойчивост на българските МСП (2020–2025)

Финансиране и устойчивост на българските МСП (2020–2025)
(Financing and Resilience of Bulgarian SMEs (2020–2025))

Author(s):Dobrin Ivanov
Language:Bulgarian
Subject(s):Economy, Business Economy / Management
Page Range:274-280
No. of Pages:7
Summary/Abstract:The paper aims to analyse access to finance and the financial resilience of SMEs in Bulgaria over 2020–2025, a period affected by successive crises — pandemic, energy, and inflationary. The study is based on empirical data from a national sociological survey of SMEs, identifies key challenges in securing financing, and proposes policies to support the sustainable development of SMEs under crisis conditions. The methodology includes a structured questionnaire for standardised interviews with SMEs across sectors, sizes, and regions. The results reveal substantial challenges in SME access to finance during crises, with predominant reliance on internal sources and bank loans, alongside liquidity strains and constraints on adaptability to shocks. Resilience is influenced by factors such as sectoral specificity and markets, underscoring the need to diversify sources of capital. The conclusions highlight the need for integrated policies to strengthen financial stability, including recommendations for more accessible financial instruments and strategies to deal with shocks.

Media Publications as a Potential Tool for Promoting Sustainable Accountability and Disclosure of R&D and Innovation

Media Publications as a Potential Tool for Promoting Sustainable Accountability and Disclosure of R&D and Innovation
(Media Publications as a Potential Tool for Promoting Sustainable Accountability and Disclosure of R&D and Innovation)

Author(s):Daniela Ventsislavova Georgieva
Language:English
Subject(s):Economy, Business Economy / Management, Marketing / Advertising
Page Range:281-286
No. of Pages:6
Summary/Abstract:The paper presents the results of media monitoring on topics related to research, development, and innovation in Bulgaria. Public disclosure of complete and reliable data on R&D and innovation activities of enterprises protects stakeholders' interests and can be considered a factor supporting the sustainable economic development of the EU. The results show that most media content is neutral. None it reporting data on R&D and innovation. Publications with positive content are mainly descriptive and promotional, focusing on new products, research projects’ results, and international news. The publications with negative sentiments focus on inadequate funding for scientific research, Bulgaria's position in European rankings, and ineffective national policies in the sector.

The Age of Agile for Research Organizations

The Age of Agile for Research Organizations
(The Age of Agile for Research Organizations)

Author(s):Spartak Keremidchiev
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:287-292
No. of Pages:6
Summary/Abstract:The Agile concept has rapidly entered business organizations that create software and apply the principles of project management. The article presents the possibilities for applying this concept in research organizations. To this end, the main characteristics of Agile in business organizations are outlined. Then the peculiarities of the functioning of research organizations and their environment are discussed. Instead of a conclusion, stages and steps of using Agile in research organizations are developed.

Икономическо развитие, основано на ново знание и провеждани политики

Икономическо развитие, основано на ново знание и провеждани политики
(New Knowledge Based on Economic Development and Policies)

Author(s):Rossitsa Chobanova
Language:Bulgarian
Subject(s):Economy, Business Economy / Management
Page Range:293-298
No. of Pages:6
Summary/Abstract:The article discusses contemporary knowledge driven economic development based on the creation, absorption and use of new knowledge, as well as the policies pursued. By applying Hegel's theoretical and methodological approach to economic development, the need for a change in the model of Governmental policy for innovation is proven on the example of Bulgaria. It is proposed that the state forms and coordinates the strategy for knowledge-based development, stimulating the renewal of enterprises not only through the supply - directing public funds for renewal to the business sector, but also by supporting the demand – domestic and foreign for new products and services, the production of which is nationally based and / or included in global and regional supply chains.

Specifics of Cooperative Business Models in Relation to Existing Corporate Governance Mechanisms

Specifics of Cooperative Business Models in Relation to Existing Corporate Governance Mechanisms
(Specifics of Cooperative Business Models in Relation to Existing Corporate Governance Mechanisms)

Author(s):Plamen D. Tchipev
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:299-303
No. of Pages:5
Summary/Abstract:The active development of cooperatives requires the study of the practices specific to the cooperative business model. Their management bodies should manage the cooperative and at the same time act in accordance with the values and principles of the International Cooperative Alliance, actively engage and maintain close relations with their members and encourage the active participation of members in its management. The present study highlights the specifics of the cooperative business model, as a first step towards the evaluation of corporate governance (CG) in cooperatives.

Корпоративна устойчивост със социални измерения

Корпоративна устойчивост със социални измерения
(Corporate Sustainability with Social Dimension)

Author(s):Radostina Bakardjieva
Language:Bulgarian
Subject(s):Economy, Business Economy / Management
Page Range:304-310
No. of Pages:7
Summary/Abstract:Corporate sustainability in recent years has been at the center of discussion both in academia and in research centers and non-governmental organization. Social aspects of corporate sustainability are an area still insufficiently explored in the context of European social taxonomy. The goal of article is to systematize current economic literature and to assess the contribution of Bulgarian non- financial enterprises to achieving sustainability and adaptability in the context of Sustainable Development Goals. Statistical data provided by the National Statistical Institute on the results achieved by Bulgarian enterprises are summarized.

The Impact of ESG Integration on Firms' Financial Performance and Corporate Value

The Impact of ESG Integration on Firms' Financial Performance and Corporate Value
(The Impact of ESG Integration on Firms' Financial Performance and Corporate Value)

Author(s):Katerina Vojcheska-Nikodinoska
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:311-317
No. of Pages:7
Summary/Abstract:This research examines how environmental, social and governance integration affects firms' financial performance and corporate value in Bulgarian enterprises. The research examines mechanisms through which ESG affects profitability, cost of capital and valuation. The analysis incorporates evidence from the literature highlighting the positive financial outcomes of sustainability-oriented strategies. Particular attention is given to the European Union taxonomy for sustainable activities, the Corporate Sustainability Reporting Directive, and the International Sustainability Standards Board framework. The contribution of this paper lies in presenting empirical evidence on the relationship between sustainability integration and firm-level profitability, market valuation and capital costs in emerging European economies, using Bulgaria as a representative case study. The findings confirm that firms with higher ESG integration demonstrate stronger profitability, valuation, and lower capital costs.

Structural Changes and Labour Productivity Dynamics in Bulgaria

Structural Changes and Labour Productivity Dynamics in Bulgaria
(Structural Changes and Labour Productivity Dynamics in Bulgaria)

Author(s):Stela Raleva
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:319-325
No. of Pages:7
Summary/Abstract:The paper studies the structural changes in the Bulgarian economy and their impact on labour productivity growth. It analyses the dynamics of sectoral structures of gross value added and employment and reveals their peculiarities related to differences in labour productivity. It characterises productivity growth rates overall and by economic sector and provides a comment on changes in relative productivity levels. By applying the shift-share methodology and decomposing productivity growth, an assessment is made of its dependence on sectoral shifts and on intra-sectoral changes related to the fundamental factors of growth. Empirical results show that the economy has experienced sustained structural changes with an increasing share of the tertiary sector, which is characterised by the highest level of productivity. Its relative level has been declining, with the gap with industry narrowing and that with agriculture widening. The relocation of workers between economic sectors accounts for between 1/5 and 1/4 of the productivity growth rate, with both structural effects – static and dynamic – being positive only in the services sector.

Labour Productivity in the Education Sector in CEE Countries

Labour Productivity in the Education Sector in CEE Countries
(Labour Productivity in the Education Sector in CEE Countries)

Author(s):Kristina Stefanova
Language:English
Subject(s):Economy, Business Economy / Management, Socio-Economic Research
Page Range:326-331
No. of Pages:6
Summary/Abstract:The article aims to analyse labour productivity dynamics in the education sector in CEE countries during the period 2010-2024. The results of the study show that labour productivity in the education sector in CEE countries lags behind both the EU-27 average and the overall economy, showing no significant growth from 2010 to 2024. CEE's lag behind the EU-27 average in terms of labour productivity in the education sector is more significant than its lag behind the labour productivity indicator for the economy as a whole. The private education sector also demonstrates labour productivity below the EU-27 average.

Влиянието на изкуствения интелект върху трудовите процеси в България

Влиянието на изкуствения интелект върху трудовите процеси в България
(The Impact of Artificial Intelligence on the Labor Market: Trends and Challenges)

Author(s):Yordan Dimitrov
Language:Bulgarian
Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies
Page Range:332-337
No. of Pages:6
Summary/Abstract:The article examines the impact of artificial intelligence (AI) on labor through real implementations in enterprises, focusing on the structure and dynamics of its adoption by firm size and economic sector, as well as on its effects on the content of work – which operations AI supports and which it replaces. Eurostat data (2023–2024) are analyzed on technologies such as text mining, natural language generation, image recognition and processing, machine learning, robotic process automation, and autonomous systems.In Bulgaria, AI is spreading most rapidly among small and medium-sized enterprises, while large firms maintain the highest levels of adoption. The most common technologies are text mining (3.9%), robotic process automation (2.9%), natural language generation (2.3%), and machine learning (2.1%). These technologies support data analysis and processing, requiring new skills and algorithmic oversight while replacing routine tasks. The information and communication sector leads in adoption, the services sector advances through administrative applications, and industry and trade mainly apply AI for quality control and logistics. The main barriers remain the lack of expertise, legal uncertainty, privacy concerns, and high implementation costs.

From Economic Growth to Sustainable Wellbeing

From Economic Growth to Sustainable Wellbeing
(From Economic Growth to Sustainable Wellbeing)

Author(s):Dimitar Sabev
Language:English
Subject(s):Economy, Business Economy / Management
Page Range:338-343
No. of Pages:6
Summary/Abstract:This article argues that growth is not always a path to greater happiness: based on data from 134 countries grouped into 6 regions, the analysis identified three major patterns in the relationship between economic growth and subjective wellbeing. In the Global North, there is a significant negative association – that is, higher growth impedes the population’s wellbeing. For the emerging economies in Asia and Latin America, the link is positive: higher economic growth promotes happiness. Finally, for a broad group of countries in Africa and the Middle East, as well as in the Eurasia region, there is no clear statistical association between growth and happiness, assumedly because of their statist and resource-based economic structure. The general conclusion confirms the existence of the Easterlin Paradox on an international level, which might be explained by two main factors: the higher marginal social and environmental costs of growth beyond a certain threshold, and the need for institutions to provide equitable distribution of the surplus output. The main policy implication of this finding is that “more growth” is an improper development prescription for both the richest and the poorest nations.

Декуплиране на икономическия растеж от екологичните натиски: предизвикателства и перспективи пред България

Декуплиране на икономическия растеж от екологичните натиски: предизвикателства и перспективи пред България
(Decoupling Economic Growth From Environmental Pressures: Challenges and Prospects for Bulgaria)

Author(s):Ivaylo Yankov
Language:Bulgarian
Subject(s):Economy, National Economy, Business Economy / Management
Page Range:344-349
No. of Pages:6
Summary/Abstract:This article explores how economic growth in Bulgaria has become decoupled from environmental pressures, with particular focus on the long-term transition to carbon neutrality. The approach builds on definitions and methodological guidelines from the OECD, the European Commission, and recent academic studies. The analysis draws on official data from the National Statistical Institute (NSI) and Eurostat, making it possible to track and compare Bulgaria’s development over time. The results indicate encouraging trends: both relative and absolute forms of decoupling are observed across different sectors, although structural barriers remain. Based on these findings, the article outlines conclusions about the capacity of the Bulgarian economy to move toward the European Union’s goal of net-zero emissions by 2050.

Potential Gaps in Bulgaria's Social Climate Plan: Assessing Draft Measures and Impact on Energy-Poor Households

Potential Gaps in Bulgaria's Social Climate Plan: Assessing Draft Measures and Impact on Energy-Poor Households
(Potential Gaps in Bulgaria's Social Climate Plan: Assessing Draft Measures and Impact on Energy-Poor Households)

Author(s):Teodora Peneva
Language:English
Subject(s):Economy, Energy and Environmental Studies
Page Range:350-354
No. of Pages:5
Summary/Abstract:This article examines potential gaps and limitations in the Social Climate Plan, focusing on its draft versions. The study analyzes key components of the plan, including its structural framework, types of measures, budget allocation, and administrative mechanisms, with attention to potential challenges in implementation. Particular emphasis is placed on the identification of target groups, the intensity of grants, and support schemes, highlighting possible weaknesses in design, effectiveness, and administrative procedures. In addition, the study critically assesses the possible impacts on energy-poor households, including the risk of unequal access to benefits or potential loss of support due to gaps in targeting or implementation. The analysis aims to provide a critical framework for assessing the Social Climate Plan in its early stages and to offer insights for optimizing its design, promoting more equitable and sustainable implementation, without drawing conclusions on the finalized plan outcomes.

Economic Arguments in the Processes of (De)Legitimation of the Green Transition Policy: Two Cases from the Bulgarian Media Discourse

Economic Arguments in the Processes of (De)Legitimation of the Green Transition Policy: Two Cases from the Bulgarian Media Discourse
(Economic Arguments in the Processes of (De)Legitimation of the Green Transition Policy: Two Cases from the Bulgarian Media Discourse)

Author(s):Nikolay Baltov
Language:English
Subject(s):Economy, Energy and Environmental Studies, Green Transformation
Page Range:355-359
No. of Pages:5
Summary/Abstract:Economic arguments have a crucial role in the (de)legitimation of the green transitions. This article examines the economic debate on the European Green Transition in two Bulgarian online-based media outlets. The discourse analysis identifies sixteen economic story-lines. Nine of them are embedded within a strongly delegitimizing discourse that portrays the transition as a bureaucratized process leading to economic decline. Seven are organized around a discourse of inevitable economic transformation, which presents the transition not as a threat to the economy but as an opportunity for its modernization, emphasizing the benefits of renewable energy sources over the limitations of a fossil fuel-based economy. The study contributes by revealing the fundamental arguments underpinning the (de)legitimation of the green transition, as well as the logic of their unfolding.

Публично-частното партньорство в образователната сфера

Публично-частното партньорство в образователната сфера
(Public-private Partnership in the Educational Sphere)

Author(s):Natalya Licheva
Language:Bulgarian
Subject(s):Economy, Business Economy / Management
Page Range:360-366
No. of Pages:7
Summary/Abstract:The article examines the role and significance of public–private partnerships (PPPs) in the educational sphere, analyzing their opportunities, challenges, and achievements. It introduces the concept of PPPs as a model of joint activity between the state and the private sector with the aim of improving the quality and access to education. The opportunities offered by PPPs include expanding the resource base, innovations in teaching, modernization of infrastructure, and increasing the efficiency of governance. This model enables greater flexibility, attracts investors, and fosters the development of new educational programs aligned with the needs of the labor market.

Blockchain in the public sector – opportunities and challenges

Blockchain in the public sector – opportunities and challenges
(Blockchain in the public sector – opportunities and challenges)

Author(s):Mihaela Todorova
Language:English
Subject(s):Economy, Business Economy / Management, Public Finances
Page Range:367-373
No. of Pages:8
Summary/Abstract:Today's dynamic society is characterised by increasing digitalisation, which is changing the way citizens interact with institutions and participate in public processes. The public sector faces many challenges, and modern solutions must be found to overcome them. Blockchain is an innovative technology that can provide transparent and decentralized data storage, creating the conditions for optimizing public services and increasing trust between citizens and institutions. This study examines and summarizes the opportunities that the technology can provide, such as improving the efficiency of e-government, education, healthcare, corruption, e-voting, and others. The main challenges to the implementation of the technology in the public sector, which should not be overlooked, are also discussed. Practical examples are examined and a comparison is made of the blockchain application in the public processes of Estonia, Georgia, and Sweden.

Economic Development and Policies: Realities and Prospects. Sustainability in the Conditions of Global Transformations Economic Development and Policies: Realities and Prospects. Sustainability in the Conditions of Global Transformations

В навечерието на еврото: фискална устойчивост и средносрочни перспективи пред икономическото развитие на България

Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy

Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy (Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy)

Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration

Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration (Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration)

Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States

Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States (Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States)

The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics

The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics (The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics)

Impact of the U.S. Import Tariffs on Bulgaria’s Economy

Impact of the U.S. Import Tariffs on Bulgaria’s Economy (Impact of the U.S. Import Tariffs on Bulgaria’s Economy)

The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries

The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries (The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries)

The Public Finance in Europe – Structural Developments in France

The Public Finance in Europe – Structural Developments in France (The Public Finance in Europe – Structural Developments in France)

New Approaches in the Relationship Between China and CEE

New Approaches in the Relationship Between China and CEE (New Approaches in the Relationship Between China and CEE)

EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU

EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU (EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU)

Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers

Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers (Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers)

The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators

The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators (The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators)

EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses

EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses (EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses)

The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case

The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case (The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case)

Certification Schemes in the Foodservice Sector: The Case of Meat

Certification Schemes in the Foodservice Sector: The Case of Meat (Certification Schemes in the Foodservice Sector: The Case of Meat)

Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study

Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study (Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study)

Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia

Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia (Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia)

Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness

Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness (Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness)

Global Crises and Municipal Finances: Evidence From Bulgaria

Global Crises and Municipal Finances: Evidence From Bulgaria (Global Crises and Municipal Finances: Evidence From Bulgaria)

Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria

Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria (Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria)

Modern aspects of regional policy in the context of development of small settlements

Modern aspects of regional policy in the context of development of small settlements (Modern aspects of regional policy in the context of development of small settlements)

Progress Towards Sustainable Development

Progress Towards Sustainable Development (Progress Towards Sustainable Development)

Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness

Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness (Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness)

How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy

How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy (How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy)

Spatial Economies of Energy Communities: How Urban Density of Collective Self-consumption Reduces Solar Curtailment and Enhances Grid Flexibility in the EU

Устойчивостта в контекста на дигитализацията в ЕС – ретроспекция и проблеми

Устойчивостта в контекста на дигитализацията в ЕС – ретроспекция и проблеми (Sustainability in the Context of Digitalization in the EU – Retrospect and Challenges)

Domestic Tourism and Sustainable Development: A Bibliometric Analysis

Domestic Tourism and Sustainable Development: A Bibliometric Analysis (Domestic Tourism and Sustainable Development: A Bibliometric Analysis)

Investment Pathways in Tourism: IPO Financing, Public Policy and Sustainable Destination Development: Exploring the Intersection of Capital Markets, Regulatory Frameworks, and Sustainability in Tourism Development Across Central and Eastern Europe

National Identity and Tourism Policy

National Identity and Tourism Policy (National Identity and Tourism Policy)

Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025)

Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025) (Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025))

Развитие на селските райони в България – минало, настояще и бъдеще

Развитие на селските райони в България – минало, настояще и бъдеще (Rural area development in Bulgaria - past, present, future)

Economic Development Through the Implementation of a Strategy of Linked and Unrelated Diversification in Agriculture in the North-East Planning Region

Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework

Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework (Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework)

Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030

Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030 (Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030)

Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers

Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers (Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers)

The Contribution of Small Farmers to Ensuring Food Security in Bulgaria

The Contribution of Small Farmers to Ensuring Food Security in Bulgaria (The Contribution of Small Farmers to Ensuring Food Security in Bulgaria)

The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation

The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation (The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation)

Building the Employer Brand as a Driver for Achieving Sustainability

Building the Employer Brand as a Driver for Achieving Sustainability (Building the Employer Brand as a Driver for Achieving Sustainability)

Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams

Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams (Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams)

Trade Credit and Financial Sustainability of Enterprises

Trade Credit and Financial Sustainability of Enterprises (Trade Credit and Financial Sustainability of Enterprises)

Финансиране и устойчивост на българските МСП (2020–2025)

Финансиране и устойчивост на българските МСП (2020–2025) (Financing and Resilience of Bulgarian SMEs (2020–2025))

Media Publications as a Potential Tool for Promoting Sustainable Accountability and Disclosure of R&D and Innovation

Economic Development and Policies: Realities and Prospects. Sustainability in the Conditions of Global Transformations
Economic Development and Policies: Realities and Prospects. Sustainability in the Conditions of Global Transformations

Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy
(Strategic Autonomy and the Green Transition: Geoeconomic Trade-offs in the EU’s Critical Raw Materials Policy)

Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration
(Impacts of the Global Sustainable Transition on the Economy and Society: Climate Migration)

Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States
(Bulgaria’s Circular Economy Indicators in Comparative Analysis with Other EU Member States)

The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics
(The Role of the International Transfer of Innovations and Technologies in an Era of Transformative Geo-economics)

Impact of the U.S. Import Tariffs on Bulgaria’s Economy
(Impact of the U.S. Import Tariffs on Bulgaria’s Economy)

The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries
(The Effect of EU Plastic Waste Trade Regulations on Exports to Non-OECD Countries)

The Public Finance in Europe – Structural Developments in France
(The Public Finance in Europe – Structural Developments in France)

New Approaches in the Relationship Between China and CEE
(New Approaches in the Relationship Between China and CEE)

EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU
(EU Minimum Import Price: Implementation and Removal–Difference-in-Differences and Event-Study Evidence on Chinese PV Module Exports to the EU)

Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers
(Circular Transitions in Africa: Insights from Entrepreneurs and Practitioners on Opportunities and Barriers)

The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators
(The Expression of Smartness‘ Dimensions in the Culture Management: A System of Criteria and Indicators)

EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses
(EU Between Effective Rules for Reporting on Corporate Sustainability and Reducing the Administrative Burden for the Businesses)

The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case
(The Impact of Residential Property Sales to Foreigners on Tourism: Antalya Case)

Certification Schemes in the Foodservice Sector: The Case of Meat
(Certification Schemes in the Foodservice Sector: The Case of Meat)

Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study
(Unveiling the Impact of Weather and Calendar Patterns on Electricity Demand in Off-grid Regions: An Empirical Study)

Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia
(Institutions as a Prerequisite for Growth: Projections and Policy Implications for North Macedonia)

Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness
(Regional Cooperation and Bulgaria’s Foreign Direct Investment Competitiveness)

Global Crises and Municipal Finances: Evidence From Bulgaria
(Global Crises and Municipal Finances: Evidence From Bulgaria)

Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria
(Regional Resilience and Economic Adaptation: Challenges and Opportunities of the New NUTS-2 Territorial Division of Bulgaria)

Modern aspects of regional policy in the context of development of small settlements
(Modern aspects of regional policy in the context of development of small settlements)

Progress Towards Sustainable Development
(Progress Towards Sustainable Development)

Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness
(Artificial Intelligence as a Catalyst for Sustainable Regional Development in Industry 5.0: From Resource Efficiency to Regional Competitiveness)

How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy
(How Aggregated Indicators and Data Gaps Distort the Analysis of Waste and the Circular Economy)

Устойчивостта в контекста на дигитализацията в ЕС – ретроспекция и проблеми
(Sustainability in the Context of Digitalization in the EU – Retrospect and Challenges)

Domestic Tourism and Sustainable Development: A Bibliometric Analysis
(Domestic Tourism and Sustainable Development: A Bibliometric Analysis)

National Identity and Tourism Policy
(National Identity and Tourism Policy)

Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025)
(Real Estate Transactions and Household Wealth in Bulgaria – Stepwise Regression Model of Growth Factors (2020-2025))

Развитие на селските райони в България – минало, настояще и бъдеще
(Rural area development in Bulgaria - past, present, future)

Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework
(Sustainability of Bulgarian Field Crops Farms in the Context of the European Development Framework)

Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030
(Scenarios for the Development of Agricultural Holdings in Areas Facing Natural Constraints Until 2030)

Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers
(Identifying Trends and Problems in Implementation of Agro-ecological Practices and Innovations by Farm Managers)

The Contribution of Small Farmers to Ensuring Food Security in Bulgaria
(The Contribution of Small Farmers to Ensuring Food Security in Bulgaria)

The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation
(The Modern Corporate Human Capital as a Challenge to Sustainable Business Innovation)

Building the Employer Brand as a Driver for Achieving Sustainability
(Building the Employer Brand as a Driver for Achieving Sustainability)

Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams
(Integrating Principal-Agent Theory and Business Process Reengineering: An Analytical Framework for Managing Virtual Teams)

Trade Credit and Financial Sustainability of Enterprises
(Trade Credit and Financial Sustainability of Enterprises)

Финансиране и устойчивост на българските МСП (2020–2025)
(Financing and Resilience of Bulgarian SMEs (2020–2025))

Media Publications as a Potential Tool for Promoting Sustainable Accountability and Disclosure of R&D and Innovation
(Media Publications as a Potential Tool for Promoting Sustainable Accountability and Disclosure of R&D and Innovation)

The Age of Agile for Research Organizations
(The Age of Agile for Research Organizations)

Икономическо развитие, основано на ново знание и провеждани политики
(New Knowledge Based on Economic Development and Policies)

Specifics of Cooperative Business Models in Relation to Existing Corporate Governance Mechanisms
(Specifics of Cooperative Business Models in Relation to Existing Corporate Governance Mechanisms)

Корпоративна устойчивост със социални измерения
(Corporate Sustainability with Social Dimension)

The Impact of ESG Integration on Firms' Financial Performance and Corporate Value
(The Impact of ESG Integration on Firms' Financial Performance and Corporate Value)

Structural Changes and Labour Productivity Dynamics in Bulgaria
(Structural Changes and Labour Productivity Dynamics in Bulgaria)

Labour Productivity in the Education Sector in CEE Countries
(Labour Productivity in the Education Sector in CEE Countries)

Влиянието на изкуствения интелект върху трудовите процеси в България
(The Impact of Artificial Intelligence on the Labor Market: Trends and Challenges)

From Economic Growth to Sustainable Wellbeing
(From Economic Growth to Sustainable Wellbeing)

Декуплиране на икономическия растеж от екологичните натиски: предизвикателства и перспективи пред България
(Decoupling Economic Growth From Environmental Pressures: Challenges and Prospects for Bulgaria)

Potential Gaps in Bulgaria's Social Climate Plan: Assessing Draft Measures and Impact on Energy-Poor Households
(Potential Gaps in Bulgaria's Social Climate Plan: Assessing Draft Measures and Impact on Energy-Poor Households)

Economic Arguments in the Processes of (De)Legitimation of the Green Transition Policy: Two Cases from the Bulgarian Media Discourse
(Economic Arguments in the Processes of (De)Legitimation of the Green Transition Policy: Two Cases from the Bulgarian Media Discourse)

Публично-частното партньорство в образователната сфера
(Public-private Partnership in the Educational Sphere)

Blockchain in the public sector – opportunities and challenges
(Blockchain in the public sector – opportunities and challenges)