The Fiscal Council (FC) has warned the caretaker government, which is about to take office these days, to strictly comply with the Public Finance Act, since a regular budget has not yet been adopted. This expert body was established years ago to advise governments on how to spend public funds effectively and appropriately. The main warning is that the inclusion of social policies such as wage indexations in the budget sector and increased capital financing of municipalities in the extended Law on the Collection of Revenues and Expenditures compromises the principles of budget legislation. The experts from the FC advise future leaders to rethink their policy on paying public sector personnel. First, because the burden of personnel costs in the public sector has become too great (nearly 11% of GDP). In addition, this puts pressure on the private sector to raise wages, and the outpacing growth of incomes relative to inflation stimulates consumption and generates more inflation. The priority increase in salaries in certain sectors creates a feeling of injustice and leads to protests for higher salaries in other sectors as well, the Fiscal Council also believes. In addition, the decrease in the population requires optimization of employees in the entire budget sector. The regime regarding the distribution of the insurance burden between employer and employee should be the same for all workers, probably referring to civil servants who are exempt from personal insurance contributions. The Fiscal Council recalls that it has already made recommendations to previous ruling majorities to reduce the municipal administration by merging municipalities and optimizing the number of police officers, which is growing with a decreasing population. A reform is also necessary, in which civil servants and police officers pay their personal insurance contributions, like all other employees.

As of the end of December 2025, the assets managed by Bulgarian and foreign investment funds (a total of 1,758) operating in Bulgaria amounted to BGN 13.79 billion. Their size increased by BGN 1.996 billion (16.9%) compared to December 2024 and by BGN 982.3 million (7.7%) compared to September 2025. This was reported by the Bulgarian National Bank. As a percentage of GDP, the total assets of Bulgarian and foreign investment funds as of the end of December grew to 6.1%, compared to 5.8% of GDP as of December 2024 and 5.7% as of the end of September last year. The assets managed by Bulgarian investment funds reached 4.23 billion leva, increasing by 519.5 million leva (14%) compared to December 2024. Compared to September last year, their assets increased by 167.4 million leva (4.1%). As of the end of December, the funds attracted to foreign investment funds (a total of 1,592) were 9.56 billion leva. Compared to the same month of 2024, they increased by 1.48 billion leva (18.3%). Compared to the end of September last year, the amount of liabilities of foreign investment funds to residents of Bulgaria increased by 815 million leva (9.3%). The main investors in foreign investment funds as of the end of December were insurance companies and pension funds (63.1%) and households and non-profit organizations serving households (20.6%). As of the end of December 2024, the relative shares of the two sectors were 65.4% and 19%, respectively, and as of September 2025 – 61.8% and 21.2 percent.

The government of Prime Minister Zhelyazkov has accelerated the assessment of the submitted proposals under one of the largest schemes under the Operational Program "Development of Regions" - to support investments in large enterprises in Stara Zagora. The proposal of "Mini Maritsa Iztok" for "Construction of a photovoltaic park with a total installed capacity of up to 20 MWp and electricity storage systems with batteries of about 29 MWh" has been rejected from the list of companies admitted to financing. BGN 472.7 million is allocated under the scheme. The deadline for submitting proposals expired in November 2024, and manufacturing enterprises in the territory of Stara Zagora district, as well as 10 more municipalities - Nova Zagora, Yambol, Simeonovgrad, Harmanli, Topolovgrad, Dimitrovgrad, Haskovo, Elhovo, Sliven and Tundzha were eligible to apply. The minimum amount of grant that can be applied for is 1 million leva, the maximum - 20 million leva. The MRDPW specified that 50 companies have submitted proposals and projects under this scheme, with 3 having meanwhile withdrawn. Out of 47 proposals submitted, 4 were rejected for eligibility. The remaining proposals are undergoing financial and technical evaluation. For example, a project to expand the production capacity of the AB AD company was approved for funding. The European Roads company also applied with a project for the development of production investments. Nivel Stroy also wants to build a new business with energy efficiency, a new business site and new jobs will be built by Trace Group Hold. The RIA counterparty and a player in railway transport through another company, PIMK, is also applying with a project for adapting to the economic transition. Other energy companies have met the requirements of the MRDPW at the eligibility stage - "Brickel", "ContourGlobal Maritsa Iztok 3 AD", the military "Arsenal" and the chemical "Neochim" are applying with a project. "Lidl Bulgaria", "Bella Bulgaria" and "Zagorka" also have projects.

The government in resignation of Rosen Zhelyazkov adopted a decision to declare a property of public state ownership as a property of private state ownership and to increase the capital of "TEREM - HOLDING" EAD, Sofia. The increase is made with a non-cash contribution - through the contribution of real estate with no longer needed - for the Ministry of Defense and the Bulgarian Army "TEREM-HOLDING" EAD carries out repairs, production, modernization and logistical support of defense equipment and armament in its 5 subsidiaries: "Terem - Letets", "Terem - Ivaylo", "Terem - Khan Krum", "Terem - Tsar Samuil" and "Terem-KRZ Fleet Arsenal - Varna". "TEREM-HOLDING" is a state company of the Ministry of Defense, which maintains aviation equipment, ships and vessels, armored vehicles, small arms, artillery and missile weapons, ammunition, radar equipment and communication equipment.

One of the large enterprises in the Brașani region, MD Electronic, which produces cables for the needs of the automotive industry, is suspending its operations. "The market situation in the automotive industry sector in Europe presents many difficulties for the business of MD Electronics. Reduced sales volumes, the need to reduce costs and competition in the sector, as well as changes in customer demand, lead to the need for MD Electronics to change the structure of its production activity in Europe", is stated in the official information from the company. The Bulgarian plant of MD Electronics, established in Germany in 1974, is new - production began in 2020 with the promise of a large investment to be combined with a permanent presence. The revenues of the Bulgarian business amounted to over 79 million leva for 2024. The number of employees at the end of 2025 was close to 650, but according to local media, the number of people affected since the closure is currently around 571. As early as December last year, over 180 people were released. The company will complete all current projects, after which no new orders will be accepted and the closure of production activities will be organized. Only a few people will remain employed in Bratsa, engaged in defense. This is a serious blow to the labor market in Bratsa. The Teklas plant, which opened in 2022, also closed its doors - while the region recovered from the decision of CE Bordnetse - Bulgaria to cease operations in Mezdra.

Deliveries of the new Stryker combat and support vehicles for the needs of the Land Forces have begun. They are being carried out in implementation of international contracts of the Ministry of Defense on the main projects for the modernization of the Bulgarian Army. The first five Stryker armored combat vehicles arrived at the port of Burgas today, February 14, as part of a delivery from the USA and Canada. In accordance with the industrial cooperation stipulated in the contract, they will be delivered to the TEREM - Ivaylo EOOD plant in Veliko Tarnovo for final assembly and subsequent transfer to the 61st Mechanized Brigade in the town of Karlovo. Within the same delivery, logistics vehicles and property under the F-16 contract also arrived in Bulgaria. An additional 8 Stryker armored combat vehicles (ABMs) were also delivered, which were provided free of charge under a program with the USA and will be used for training in the 61st Mechanized Brigade in Karlovo.

The Supreme Court and the Agency for Public Enterprises and Control have been finally ordered to pay compensation of 24 million leva for property damage to a company related to Nikolay and Evgeniya Banevi. The compensation was awarded to the company "Helio-Tour-S" for the seizure of property in violation of European Union law and the practice of the Supreme Court of Cassation. The case under the State Liability Act is due to a law that has been in force for years and that contradicts European Union law. This is the text of the Privatization and Post-Privatization Control Act, which was repealed only in 2015, which allowed the state, through the Privatization Agency, to establish a legal mortgage on the property of the privatized company for the buyer's unfulfilled obligations under a privatization contract. The company is suing the National Assembly and the Bulgarian Property and Property Commission because it has lost coastal properties - in Chernomorets and Sozopol, mortgages were registered on them, which were supposed to satisfy the obligations of another company - "Helio". The mortgaged properties were subsequently sold by a private bailiff through forced execution at seriously undervalued prices. The court accepted that the compensation due for damages from the property seized through mortgage in Chermorets is 9,592,180 leva with interest from 2013 for nearly 14 million leva, and for the property seized in Sozopol the compensation is 327,190 leva plus another 390,935 leva in interest. The total amount of the state's obligation to the company amounts to 24 million leva. plovdiv24

Started as an experiment in Svetlana Peycheva's kitchen, Agarikus' dessert bars are turning into a business worth over BGN 5 million per year. After Europe, the company wants to test the taste buds of Dubai. The market for functional bars in Europe is developing at an average annual forecast rate of about 14.7% for the period 2026-2033. The Agarikus company creates private labels for protein, vegan and energy bars. In 2024, Agarikus BG, owned by Ivaylo Georgiev (Peycheva's partner in other companies) and Radka Peycheva, had operating revenues of BGN 5.25 million – BGN 1 million more than the previous year. The factory in the Sofia village of Gurmazovo, Agarikus' production facilities feed the hunger for private labels of manufacturers in Germany, the Netherlands, Belgium and France. Customers order the product, and the Bulgarian company, which employs about 45 people, handles everything else – from selecting and mixing the ingredients, to designing the packaging, to experimenting with flavors. Initially, the company tested the market with two of its own brands – Rawganic and Amara, which it promoted as organic raw desserts. So in 2017, Agarikus began working exclusively on the private label model.

The construction company Trace Group Hold AD will be the third Bulgarian company to list its shares for trading on the Frankfurt Stock Exchange, in addition to the Bulgarian Stock Exchange (BSE). The first trading session of Sirma Group Holding AD shares in Frankfurt is scheduled for February 24, 2026, and the shares will be moved for trading on the EuroBridge segment of the Bulgarian Stock Exchange-Sofia. The shares of Shelly Group ED have been traded in Germany since 2021, and in 2024 they were moved to EuroBridge for simultaneous trading on the Bulgarian Stock Exchange and XETRA. Trace Group Hold reported nearly BGN 377.7 million in revenue on an individual basis for 2025 and almost BGN 366.8 million in expenses, with the realized profit amounting to BGN 9.8 million. In the middle of last year, the company distributed a gross dividend of 0.4 leva per share from the profit for 2024. The total amount paid to shareholders amounts to nearly 9.7 million leva. The company has registered branches in Serbia, North Macedonia, Montenegro, Romania, Greece and Ukraine. The company is involved in the construction of some sections of the Sofia metro, highways and roads, railway infrastructure, and has also entered high-rise construction.

The Netherlands recently moved closer to introducing one of the world’s most unusual capital gains tax systems, when the House of Representatives approved legislation to tax unrealized gains on stocks, bonds and cryptocurrencies. The bill now needs to be submitted to the Senate, where the parties that supported the measure also have a majority. The government plans for the new rules to come into effect on January 1, 2028, dutchreview reports. According to the new regulations, Dutch citizens will pay a flat tax of 36% on annual investment income above €1,800, including unrealized capital gains. The tax applies regardless of whether investors have sold their assets or not, which is a significant difference from traditional capital gains taxation around the world. In practice, anyone who has invested money and is profitable at the end of the year, even though they have not sold their assets and have not collected this profit, will owe a 36% tax. Real estate shares and start-up companies are treated differently. The government will tax rental income annually, but will only tax capital gains from property sales. Start-ups will also qualify for such an exemption if they are less than 5 years old and generate less than €30 million in annual revenue. Primary residences remain exempt under Box 1 income tax rules. The government said the bill was not perfect, but the move was necessary because otherwise the country would have faced an estimated annual revenue loss of €2.3 billion. Investors around the world were shocked by the Dutch government’s avant-garde approach. Many expressed outrage at the obligation to pay tax on virtually non-existent profits that exist only on paper. Cryptocurrency and stock investors have called the Dutch law grossly unfair and a financial blow to households and small investors. Some already fear that the Dutch example could be contagious and other countries could change their tax systems in a similar way. Experts warn that these rules will force many investors to leave the country to migrate to other countries where tax systems are fairer. The House of Representatives must pass the final bill by March 15, 2026, to give banks, insurers and the Dutch tax administration enough time to modify their computer systems before it is implemented.

Wheat prices fell to their lowest level in nearly a week after weather forecasts for U.S. producing areas improved. Traders are pricing in the prospect of drier and warmer weather after a cold snap, a combination of factors that is boosting expectations for a stable supply, Bloomberg reported. On the Chicago Board of Trade, wheat futures for May delivery fell 1.4 percent to $5.4075 a bushel. The decline also extended to the broader grain and oilseeds market, with corn and soybean prices also down slightly. Weak trading after a long weekend in the U.S. and the closure of key Asian exchanges for the Lunar New Year holiday added further pressure to prices. The U.S. Climate Prediction Center (CPC) forecasts above-average temperatures in parts of Texas and Oklahoma next week. The expected warming in the American plains and southern states is reinforcing negative market signals, which are already under the influence of a global wheat glut. According to analysts at Argus, the market is currently in a wait-and-see mode. With most Asian markets remaining closed in the coming days, American exporters are counting on concrete new orders to confirm the prospect of a fresh flow of deals and stabilize price levels.

Russia became Kazakhstan's main partner in 2025 in terms of imports there, reaching almost 30% of all goods imported into the former Soviet republic. The specified import data were provided by the National Statistics Bureau of Kazakhstan for the period January-December 2025. In second place, with only almost a percent less, is imports from China (29.2%) to Kazakhstan. The next 4 countries, the largest suppliers of goods to Kazakhstan, have a much smaller share in the country's total imports, and they are: Germany (4.8%), the Republic of Korea (3.5%), the United States (3.3%) and France (2.4%). The main countries where Kazakhstan exports its goods are: Italy (19.8%), China (19.2%), Russia (10.3%), the Netherlands (7.6%), Turkey (4.9%) and Uzbekistan (4.5%). Which means that almost half of the country's exports are to only three countries, and in first place is an EU country. As for trade within the Eurasian Economic Union, Russia also retained its status as the leading country in terms of trade turnover with Kazakhstan. According to statistics, Russia has the largest share of Kazakhstan's total foreign trade with the organization's member states, accounting for 88.6% of Kazakhstan's cargo turnover. The share of other member states in trade with Kazakhstan is: Kyrgyzstan - 7.3%, Belarus - 3.9% and Armenia - 0.2%.