Икономически предизвикателства 2025: устойчивост, глобализация или протекционизъм : Единадесета научна конференция, 21 ноември 2025 г. : Сборник с доклади
Economic Challenges 2025: Sustainability, Globalization or Protectionism : Eleventh Scientific Conference, November 21, 2025 : Conference Proceedings
Contributor(s): Petar Peshev (Composer)
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, Energy and Environmental Studies, Governance, Economic policy, Environmental and Energy policy, ICT Information and Communications Technologies, Socio-Economic Research, Green Transformation
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: economic development; globalization; sustainability; digital transformation; economic policy, regional development
Summary/Abstract: This conference proceedings volume brings together scientific studies presented at the Eleventh Scientific Conference “Economic Challenges 2025: Sustainability, Globalization or Protectionism”, focusing on key issues of contemporary economic development. The papers cover a wide range of topics, including economic system management, regional development, financial markets, digital transformation, artificial intelligence, sustainability, and security. The studies analyze the impact of global economic processes, technological changes, and the institutional environment on economic dynamics at national, regional, and international levels. Special attention is given to the need for adapting economic policies and models to new challenges related to digitalization, sustainable development, and increasing uncertainty. The volume provides both theoretical and empirical analyses with practical relevance, contributing to the advancement of economic science and supporting the formulation of effective policy and management decisions in a transforming global economy.
- E-ISBN-13: 978-619-232-982-2
- Page Count: 198
- Publication Year: 2026
- Language: English, Bulgarian
Съвременните предизвикателства пред управлението на икономическата система
Съвременните предизвикателства пред управлението на икономическата система
(Contemporary Challenges Facing the Management of the Economic System)
- Author(s):Boyan Durankev
- Language:Bulgarian
- Subject(s):Politics / Political Sciences, Social Sciences, Economy, National Economy, Business Economy / Management, Political Theory, Sociology, Political economy, Policy, planning, forecast and speculation, Economic development, Socio-Economic Research
- Page Range:7-17
- No. of Pages:11
- Keywords:economic system; forecasting; planning; national economy
- Summary/Abstract:There is growing evidence that the economic system, as analyzed through the current system of statistical reporting based on conventional economic theory, not only fails to reveal the full picture of economic and social dynamics, but also conceals it. Questions such as the following come to the fore: what needs to be abolished in current economic theory that is untrue, and what new elements should be added to this theory; what is the scope and content of the economic system; what is the useful dynamics of the structure of the economic system; what are the factors for changing the prices of economic goods in a globalized/regionalized/national economic system; what are the economic interests that defend the status quo of current statistical reporting, focused on the „market economy“; in what direction will the global/European/national economy change; etc. This analysis seeks directions towards the correct answers for analyzing and forecasting the economic system.
Възможности и предизвикателства пред регионалното развитие на България в условията на европейската интеграция
Възможности и предизвикателства пред регионалното развитие на България в условията на европейската интеграция
(Opportunities and Challenges for the Regional Development of Bulgaria in the Conditions of European Integration)
- Author(s):Kamen Petrov
- Language:Bulgarian
- Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Economic policy, Rural and urban sociology, Economic development, EU-Approach / EU-Accession / EU-Development
- Page Range:18-32
- No. of Pages:15
- Keywords:regional development; European integration; regional policy; rural areas; territorial development; infrastructure and connectivity
- Summary/Abstract:This article is devoted to the problems of implementing European regional development policies in the context of European integration. The report focuses on the regional economy and modern development of rural regions. On the other hand, the impact of rural development policies sets the model of regional development of the respective territory. Thus, the problems of effective management and administration of large spaces and territories with their regional features and specificities based on the emerging challenges to regional development gradually come to the fore. A methodological characterization of regional development is brought out, opportunities for improving connectivity and business are considered, an assessment of European integration and structuring of new regional spaces is made. Therefore, territorial development has a high-quality dimension, which implies great coherence in the field of design and implementation of public authorities' policies. It is widely recognized that each area has a specific potential (or capital), which is different from that of other areas and which is determined by a series of factors. These may include the geographical location of the area, its size, the availability of production factors and infrastructures, its climate, its natural resources, the quality of life in it and the state of its environment or the economy of the settlements and cities located in it, its business incubators, its industrial zones or its network. In the conclusion, the relevant results are presented and significant recommendations are made in what direction regional development policy should be developed.
Динамика при превоза на пътници в градска среда за периода 2019 – 2025 г. (по примера на град София)
Динамика при превоза на пътници в градска среда за периода 2019 – 2025 г. (по примера на град София)
(Dynamics of Passenger Transport in an Urban Environment for the Period 2019 – 2025 (the Case of the City of Sofia))
- Author(s):Iliya Gatovski
- Language:Bulgarian
- Subject(s):Economy, Socio-Economic Research, Transport / Logistics
- Page Range:33-38
- No. of Pages:6
- Keywords:public transport; passenger flow; urban mobility; sustainable development; quality of transport services; social efficiency; Sofia
- Summary/Abstract:This paper analyzes the dynamics of passenger transport by public transit in the city of Sofia for the period 2019 – 2025. The study covers four main types of urban transport – metro, tram, trolleybus, and bus – tracing passenger flow trends before, during, and after the COVID-19 pandemic. Based on empirical data from the Center for Urban Mobility, a comparative analysis reveals varying recovery degrees across transport modes. The metro demonstrates the strongest recovery, surpassing pre-pandemic levels as early as 2022. Overall passenger flow in 2024 reaches 96% of the 2019 level. Guidelines for sustainable development of public transport are formulated through improving service quality and enhancing social efficiency.
Анализ на рентабилността на социалните предприятия в България през периода 2017 – 2022 г.
Анализ на рентабилността на социалните предприятия в България през периода 2017 – 2022 г.
(Analysis of the Profitability of Social Enterprises in Bulgaria in the Period 2017 – 2022)
- Author(s):Aglika Kaneva
- Language:Bulgarian
- Subject(s):Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Social development, Socio-Economic Research
- Page Range:39-54
- No. of Pages:16
- Keywords:social enterprises; profitability indicators; net profit
- Summary/Abstract:This publication is devoted to the profitability of social enterprises in Bulgaria. Profitability indicators for social enterprises in general, as well as for enterprises in „Human health and social work activities”, „Manufacturing“ and „Accommodation and food service activities“ sectors have been examined. A comparative analysis by economic sector has been made of the profitability indicators of social enterprises.
Причини за фискалната криза във Франция
Причини за фискалната криза във Франция
(Reasons for the Fiscal Crisis in France)
- Author(s):Vasil Gechev
- Language:Bulgarian
- Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Evaluation research, Fiscal Politics / Budgeting
- Page Range:55-65
- No. of Pages:11
- Keywords:fiscal policy; budget deficit; government debt; economic growth; France
- Summary/Abstract:This conference paper addresses the reasons behind the deepening fiscal crisis in France – the eurozone’s and EU’s second largest economy. Utilizing quantitative and qualitative analyses, the research demonstrates the interdependence between chronic budget deficits and government debt, and their impact on economic growth dynamics. The lack of reforms in the structure and the patterns of public spending in France is identified as the main reason for the country’s debt-management issues.
Токени за електронни пари и скрито влогонабиране: анализ на чл. 50 MiCA
Токени за електронни пари и скрито влогонабиране: анализ на чл. 50 MiCA
(Electronic Money Tokens and Shadow Banking: an Analysis of Article 50 MiCA)
- Author(s):Suleyman Bashov
- Language:Bulgarian
- Subject(s):Law, Constitution, Jurisprudence, EU-Legislation, Commercial Law
- Page Range:66-80
- No. of Pages:15
- Keywords:e-money tokens; banking; deposit-taking; MiCA; cryptoassets
- Summary/Abstract:This report examines key segments of the legal framework for electronic money tokens under MiCA through the prism of banking regulation. The analysis aims to verify to what extent MiCA, and particularly the prohibition under Art. 50 on accruing interest in favor of token holders, hinders the possibility of replicating the banking model through the commented crypto assets. The methodology is based on a legal-dogmatic comparison between MiCA and EMD II, as well as an assessment of different incentives for storing value through tokens. The results show that blockchain allows for incentives similar to deposit yields without categorically violating regulation, provided that they are not linked to the holding period of the tokens. The conclusions highlight gray areas in the legislation, while simultaneously drawing attention to a potential conflict (tension) between the provisions of Article 50 MiCA and Recital №68 of the Regulation's preamble. The applicability of the results lies in supporting both doctrine and practice in identifying potential gaps in the legal framework.
Устойчивото развитие в хотелиерството и ресторантьорството: проблеми, решения и перспективи
Устойчивото развитие в хотелиерството и ресторантьорството: проблеми, решения и перспективи
(Sustainable Development in Hospitality and Restaurant Management: Challenges, Solutions and Perspectives)
- Author(s):Kristina Shopova, Dimcho Shopov
- Language:Bulgarian
- Subject(s):Economy, Business Economy / Management, Energy and Environmental Studies, Tourism
- Page Range:81-91
- No. of Pages:11
- Keywords:Sustainability; HoReCa management; circular economy; waste management; environmental footprint
- Summary/Abstract:Sustainable development is a key theme for the 21st century, and its implementation in the hotel and restaurant industry is essential for limiting the adverse impact on the environment and for achieving economic stability. The purpose of this research is to argue the necessity of introducing sustainable approaches in HoReCa management, with a specific focus on ecological aspects, the circular economy, and waste management. The research employs analysis, synthesis, and comparison to examine techniques for the transition to sustainable management. The main finding is that the transition is not only achievable but also necessary. The conclusion is that the tourism business should adopt sustainable development as its mission, and successfully developing businesses prove the viability of this management approach.
Do Sovereign Credit Ratings Reduce Information Asymmetry? Evidence from CDS Markets
Do Sovereign Credit Ratings Reduce Information Asymmetry? Evidence from CDS Markets
(Do Sovereign Credit Ratings Reduce Information Asymmetry? Evidence from CDS Markets)
- Author(s):Radostina Stamenova, Vanina Yurieva
- Language:English
- Subject(s):Economy, National Economy, Supranational / Global Economy, Financial Markets
- Page Range:92-106
- No. of Pages:15
- Keywords:sovereign credit ratings; information asymmetry; CDS spreads; panel data
- Summary/Abstract:This study examines the informational value of sovereign credit ratings in the pricing of sovereign risk. Using a balanced panel of 53 advanced and emerging economies over the period 2012 – 2024, the empirical analysis combines fixed-effects panel regressions and Granger causality tests to assess whether rating actions influence sovereign credit default swap (CDS) spreads. Regression results confirm the significant impact of rating changes on CDS spreads, however, with asymmetry in market reactions. While rating downgrades are found to be positively associated with increases in CDS spreads, upgrades exhibit no statistically significant impact. Importantly, Granger causality tests indicate that rating actions precede movements in CDS spreads, rather than the reverse. These findings suggest that sovereign ratings continue to function as relevant informational and coordinating signals, despite the reputational setbacks experienced by credit rating agencies during recent financial crises.
Анализ на връзката между очакваната и реалната безработица в България
Анализ на връзката между очакваната и реалната безработица в България
(Analysis of the Relationship between Expected and Actual Unemployment in Bulgaria)
- Author(s):Todor Borisov
- Language:Bulgarian
- Subject(s):Economy, National Economy, Human Resources in Economy, Socio-Economic Research
- Page Range:107-141
- No. of Pages:35
- Keywords:unemployment; expectations; ARDL; ARIMAX; cointegration; Granger
- Summary/Abstract:This study examines the relationship between expected and actual unemployment in Bulgaria over the period 2003 – 2025, assessing the role of public expectations in the dynamics of the labor market. Data on expectations are sourced from the National Statistical Institute’s „Consumer Survey.“ After seasonal adjustment, ARDL, ARIMAX and VAR models are applied, alongside Johansen cointegration tests and Granger causality analysis. The results indicate that expectations exert a statistically significant and leading influence on actual unemployment, highlighting their predictive and behavioral relevance for economic policy.
Предпазване от съвременните компютърни престъпления и киберсигурността – условие за успешна икономика
Предпазване от съвременните компютърни престъпления и киберсигурността – условие за успешна икономика
(Preventing Modern Cybercrimes and Ensuring Cybersecurity – a Key Condition for Economic Success)
- Author(s):Mihail Tomov
- Language:Bulgarian
- Subject(s):Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Criminal Law, ICT Information and Communications Technologies
- Page Range:142-151
- No. of Pages:10
- Keywords:cybersecurity; cybercrimes; digital identity; online fraud; economic security
- Summary/Abstract:This report examines the relationship between cybersecurity, modern computer crimes and economic development in Bulgaria. In a digital economy, the protection of electronic identity and personal data is a key factor for financial stability, online commerce and electronic banking. „Computers and the Internet are used for stealing personal data, which can later be used to commit other crimes, such as bank card fraud, loans or registration of fake profiles on online platforms.“ New threats have emerged, including identity theft, deepfake impersonation, automated online fraud and digital identity abuse, which are not fully addressed in the Bulgarian Criminal Code. Some acts fall under Article 212a, 319a and 319b, but the lack of specific legal definitions hampers investigations and reduces the effectiveness of criminal prosecution. As a result, cybercrime generates direct economic losses, lowers consumer trust and slows digital transformation. The report argues that a successful modern economy depends on effective cybersecurity, and that updating Bulgarian criminal legislation is essential for protecting markets, citizens and businesses.
Изкуствен интелект и новите умения за успешна кариера в България
Изкуствен интелект и новите умения за успешна кариера в България
(Artificial Intelligence and New Skills for a Successful Career in Bulgaria)
- Author(s):David Davidov
- Language:Bulgarian
- Subject(s):Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Evaluation research, Social development, Social Informatics, Human Resources in Economy, ICT Information and Communications Technologies
- Page Range:152-167
- No. of Pages:16
- Keywords:artificial intelligence; digital skills; education, labor market; Bulgaria
- Summary/Abstract:The report examines the economic value of new skills in the context of the growing role of Artificial Intelligence (AI) in Bulgaria. The main objective is to analyze the link between digitalization, AI adoption, and skill demand in the labor market. Based on data from DESI, Eurostat, NSI, and the Ministry of Education, the paper argues that AI transforms rather than eliminates jobs, increasing demand for hybrid competencies – a mix of technical, analytical, and social skills.
Дигиталната трансформация като фактор за устойчиво развитие на застрахователните брокери в България в условията на глобални икономически предизвикателства
Дигиталната трансформация като фактор за устойчиво развитие на застрахователните брокери в България в условията на глобални икономически предизвикателства
(Digital Transformation as a Factor for the Sustainable Development of Insurance Brokers in Bulgaria in the Conditions of Global Economic Challenges)
- Author(s):Antonio Vasilev
- Language:Bulgarian
- Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies
- Page Range:168-177
- No. of Pages:10
- Keywords:digital transformation; insurance brokers; InsurTech; sustainable development; customer experience
- Summary/Abstract:Digital transformation is becoming a key factor for the sustainable development and increased competitiveness of insurance brokers in Bulgaria. The aim of the study is to analyse its impact on business models, processes, and client relationships. The methodological approach includes an analysis of secondary data and a survey conducted among brokers and clients. The results show that the use of CRM systems, online platforms, electronic signatures, and mobile applications improves efficiency and service quality. The regulatory requirements IDD, GDPR and DORA contribute to higher operational and cyber resilience.
Strengthening Digital Trust: An Approach for Supply Chain Resilience in An Era of Protectionism
Strengthening Digital Trust: An Approach for Supply Chain Resilience in An Era of Protectionism
(Strengthening Digital Trust: an Approach for Supply Chain Resilience in an Era of Protectionism)
- Author(s):Vasil Spasov
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, Governance, International relations/trade, ICT Information and Communications Technologies
- Page Range:178-186
- No. of Pages:9
- Keywords:digital trust; blockchain; artificial intelligence (AI); supply chain resilience
- Summary/Abstract:In response to the contemporary paradox between rising protectionism and the need for resilient global supply chains, this report presents a conceptual framework based on blockchain and artificial intelligence. The model demonstrates how digital trust can transform regulatory challenges such as CBAM (EU Carbon Border Adjustment Mechanism) into opportunities for automation, cost reduction, and enhanced traceability, thereby creating a more adaptive trading system.
Convergence Prospects of Bulgaria: Estimating the Timeline for Reaching Average EU Levels
Convergence Prospects of Bulgaria: Estimating the Timeline for Reaching Average EU Levels
(Convergence Prospects of Bulgaria: Estimating the Timeline for Reaching Average EU Levels)
- Author(s):Vasil Spasov
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, National Economy, Business Economy / Management, Economic policy, EU-Approach / EU-Accession / EU-Development
- Page Range:187-192
- No. of Pages:6
- Keywords:economic growth; convergence; purchasing power; regional development
- Summary/Abstract:The present study aims to assess the time horizon required for Bulgaria to reach the average standard of living in the European Union (EU-27). It focuses on the indicator „Volume indices of real expenditure per capita“ (in PPS, EU-27 = 100) and uses Eurostat data for the period 2013–2024. Forecast scenarios for convergence are constructed using the methods of linear and exponential extrapolation. The results show that in 2024 Bulgaria records an index value of 66, which indicates a significant gap compared to the average level of the Union.
