Confederation of Employers and Industrialists in Bulgaria

The Sofia City Prosecutor's Office has submitted an indictment against Ognian Donev, CEO of pharmaceutical company Sopharma and former Chair of the Confederation of Employers and Industrialists in Bulgaria (CEIBG), for large-scale tax evasion.

Donev faces charges of tax evasion to the tune of BGN 62 779 725 committed in April 2007 in his capacity of CEO of Elpharma AD.

Vasl Velev, Chair of the Bulgarian Industrial Capital Association (BICA), has argued that electricity tariffs should remain unchanged in the next pricing period.

In a Thursday interview for TV7, Velev claimed that there was no obstacle, be it of legal or economic nature, for Bulgaria's Commission for Energy and Water Regulation (KEVR) to keep electricity prices unchanged.

Representatives of employers' associations and trade unions staged protests over a forthcoming power price hike in a number of cities across Bulgaria.

The rally in Sofia, which started at the Council of Ministers building an ended in front of the National Assembly, was attended by several hundred people, according to reports of Capital daily.

Bulgaria's four major associations of employers have called for a power price freeze by end-2015.

Bulgarian Prime Minister Boyko Borisov has summoned a meeting of all ministers over the planned increase in electricity prices for industrial consumers as of July 1.

Sunday's meeting at the Council of Ministers building in Sofia is to also include energy experts, according to reports of the Bulgarian National Television.

Several business unions of international companies have moved to support Bulgarian energy watchdog KEVR's intention to increase electricity prices for industrial consumers, Capital Daily says.

This comes amid tensions between national business unions and the energy regulator as the latter is intending on rising industrial power prices in July.

The Supreme Administrative Court (VAS) has overturned a government decree which set the minimum wage in the country at BGN 360-380.

Under a decision dating last year, as of January 1, 2015 the amount rose to BGN 360 (up by BGN 20 compared to 2014) and was to grow by another BGN 20, to BGN 380, on July 1.

Employers' associations have threatened to leave Bulgaria's National Council for Tripartite Cooperation (NCTC), stressing that it has degenerated into a non-functioning and meaningless entity.

According to a survey conducted among representatives of Bulgaria's CEIB, businesses will be more likely to resort to reducing their workforces instead of paying higher social insurance contributions to employees.

The owner of Bulgarian reigning football champion Ludogorets Kiril Domuschiev expressed confidence that his team will win the domestic championship for the fourth time in a row.

According to Domuschiev, the competition with the team of CSKA, who are leaders at half-season, will be fierce, but the team from Razgrad will triumph at the end.