Public sphere

Nonperforming exposures (NPEs) of Greek banks will have to be reduced by 40.2 billion euros in the next three years, while bad loans (that do not include arranged debts) must go down by 38.1 billion, according to a report issued on Wednesday by the Bank of Greece.

Sofia Military-District Prosecutor's Office has indicted outgoing Defence Minister Nikolay Nenchev on charges of malfeasance.

According to the prosecution, Nenchev is responsible for a public procurement order for military uniforms which has defrauded the treasury.

OPAP, Europe's fourth-biggest betting firm, on Tuesday posted a 40 percent drop in third-quarter net profit, hurt by an austerity tax increase on its revenue.

Net profit came in at 29.3 million euros, down from 49.1 million euros in the same period a year ago.

[Reuters]

Half of the annual income of every Bulgarian is returned to the treasury in the form of personal tax burden, showed estimates of the economists at the Institute for Market Economy.

The tax burden of every working Bulgarian reaches up to 45% of his/her income and when municipal taxes and fees are added, it becomes nearly 50%.

Every year the Greek state misses out on tax revenues of at least 800 million euros due to the tax hikes it has imposed on cigarettes. With the new increases scheduled from 2017, it runs the risk of missing out on even more much-needed cash, as the shock of the hikes is likely to lead to a massive swing towards illegal tobacco products.

If the histrionics, over-the-top reactions and institutional acrobatics of the last couple of months had been avoided, the media landscape would have been regulated some time ago rather than being in the mess it has been in for so long.

Voter turnout was higher at 17:00 local time (EET) in Sunday's presidential election in Bulgaria compared to the 2011 voter for head of state, authorities say.

The activity was 44.83% at the time, up from the 38.76% in 2011, Central Election Commission (CEC) data shows.

Greece's privatization agency said it concluded the 400-million-euro ($437 million) sale of Astir Palace, a luxury seaside resort outside Athens, to Turkish-Arab fund Jermyn Street Real Estate Fund on Thursday.

Foods donated by retailers to non-profit organizations will not be levied with a value-added tax (VAT) if the products are thirty days or less out of their expiry date, Bulgarian lawmakers have decided.

The tax exemption will only be applied if the total value of donations does not exceed 0.5% of the respective businesses' annual turnover.

Greece's 14 regional airports will be delivered to Germany's Fraport by mid-February, the country's privatization agency (TAIPED) chief said on Friday.

Stergios Pitsiorlas also said that there was strong interest for a majority stake in Greece's second biggest port, Thessaloniki Port, and that binding bids were expected in January.